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Recently, the Financial Industry Regulatory Authority (FINRA) published an alert for investors relating to bond liquidity. For most individuals who have bonds as part of their portfolio of investments, the liquidity of those bonds is not usually an issue that is considered. But, understanding bond liquidity can be important, particularly…

Improper mutual fund switching and failing to provide mutual fund sales breakpoints can constitute violations of the Financial Industry Regulatory Authority (FINRA). These violations can lead to FINRA arbitration claims, which can result in significant damages being assessed against stockbrokers and financial advisors. Further, these violations can lead to financial…

Firm Fined and Censured for Failure to Report Required Information According to FINRA’s BrokerCheck website, Liberty Partners Financial Services, LLC of Bakersfield, California, put itself in the FINRA spotlight by failing to properly follow its own written supervisory procedures regarding Order Audit Trail System (OATS) reporting. Without admitting or denying…

Broker faces $25,000 fine and 9 month suspension for excessive trading As a broker in the securities industry for over 29 years, Douglas J. Dannhardt recently settled a FINRA disciplinary action relating to allegations of excessive trading in a customer’s account. According to the FINRA BrokerCheck website, Dannhardt’s first disclosure…

Newbridge securities advisor allegedly has conflict of interest between software company and his clients According to FINRA, Lawrence Michael LaBine is the subject of a disciplinary action pending against him after an alleged conflict of interest leading to several customer disputes. In his 29 years in the securities industry, LaBine…

Each faces a one-year suspension for alleged unregistered sale of penny stocks On Thursday, the Securities and Exchange Commission announced settlements in the cases of three Oppenheimer & Co. employees in Boca Raton, Florida. Scott A. Eisler, Arthur M. Lewis and Robert Okin allegedly were involved in the unregistered sale…

Investigation focuses on one UBS financial adviser in particular In a securities filing on July 28, 2015, the Swiss banking giant UBS AG reported that federal authorities are investigating one of its financial advisers and some of its customers for allegedly violating loan agreements and bank policies in Puerto Rico.…

Hedge fund firm owners agree to $5 million combined settlement On June 1, 2015 the Securities and Exchange Commission charged Greenwich, Connecticut-based AlphaBridge Capital Management and its two owners with fraudulently inflating the prices of securities in funds they managed. These inflated valuations caused the funds to pay higher management…

Disciplinary action pending against Wilton Manors, FL financial advisor Giovanni Acevedo could be facing disciplinary action from FINRA after a complaint that he allegedly converted more than $160,000 in customer funds. According to the report, he allegedly told a customer he would invest a $68,000 check she wrote to the…

NSC listed as defendant after misinformation allegedly harms investors A class action lawsuit filed in October 2014 seeks to right the wrongs done to investors when an Australian energy company went public last June. The suit also names National Securities Corporation (NSC), as one of the defendants listed in the…