Articles Posted in Failure to Supervise

Silver Law Group is currently investigating Centennial, Colorado based broker Joseph Alan Lavigne regarding complaints pertaining to failure to provide due diligence to investor clients and misrepresentation. Based on FINRA’s BrokerCheck report on Lavigne, a complaint was filed on December 4, 2017 alleging that Lavigne provided misleading information to investor…

FINRA has suspended broker Jeffrey Paul Dragon (CRD# 1874038) for 21 months and sanctioned him $50,000 in relation to a series of customer complaints.  He has since been subjected to a second customer dispute after being terminated. Dragon was last employed by Berthel Fisher & Company Financial Services, Inc. (CRD#…

Jason Eric Zwibel (CRD# 2460258, aka, Jay Bell Zwibel) is a registered broker and investment advisor with Garden State Securities (CRD# 10083) in Wellington, FL. He has been with Garden State since 1/22/2010. He has worked as a broker since 1994, and previously worked for: GunnAllen Financial, Inc. (CRD# 17609),…

A Financial Industry Regulatory Authority (FINRA) arbitration panel awarded a customer of Christopher Bennett of Hillard Lyons damages of $445,000 after the claimant alleged Bennett engaged in breach of fiduciary duty, unauthorized trading, suitability, churning, misrepresentation, omission of facts, common law negligence, fraud, failure to supervise, common law negligent supervision…

After multiple allegations and failure to supervise, New York broker Marc Arena faces stiff FINRA suspension. Newport Coast Securities broker Marc Arena has received a suspension from the Financial Industry Regulatory Authority (FINRA) for failing to adequately supervise a member of his FINRA registered firm. He allegedly did not take…

SEC and FINRA allegations include supervisory failures Both the Securities Exchange Commission (SEC) and the Financial Industry Regulatory Authority have handed a UBS affiliate in Puerto Rico orders to pay a settlement in the amount of $33.5 million, according to Law360.com. The charges against the bank include failure to supervise…

A customer of Wells Fargo Advisors filed a FINRA complaint against Wells Fargo to seek the money he lost when his adviser invested his monies in “F-Squared Investments.”  The customer’s claim is that Wells Fargo failed to supervise his adviser properly, and also did not do the required due diligence…

The Silver Law Group has filed a securities arbitration claim before the Financial Industry Regulatory Authority (“FINRA”) on behalf of a family and a family business from South America alleging, among other things, that Dawson James failed to properly supervise one of its registered representatives, permitted an unsuitable investment strategy…

Jan Ernest Helen, of Denver, Colorado, submitted an AWC in which he was barred from association with any FINRA member in any capacity. Helen was registered with Janco Partners, Inc. from 1996 through September 2014.  Without admitting or denying the findings, Helen consented to the sanction and to the entry…

Chapin Davis, Inc., of Baltimore, Maryland, submitted an AWC in which the firm was censured and fined by FINRA $35,000. Without admitting or denying the findings, Chapin Davis agreed to the sanctions and to the findings in connection with the sale of structured products, the firm’s supervisory system and WSPs…