Articles Posted in FINRA Arbitration

FINRA issues permanent bar from securities industry after failing to respond to the allegations and two counts of theft while employed at Independent Financial Group As of July 2016, Minnesota broker John Vernon Health has been barred by FINRA. His history in the financial services industry dates back to 1993…

Millions of dollars in awards go unpaid by defunct brokerage firms, boiler rooms, and unscrupulous brokers—what is FINRA doing to address this growing issue? A recent report from the Public Investors Arbitration Bar Association (PIABA) says that 75 awards (approximately one third of all money awarded to clients in FINRA…

Financial regulatory authority making it even easier for investors to access broker and firm histories As of June 6th, 2016, FINRA member firms are required to place a link on their website to their BrokerCheck reports. This gives potential clients and investors more information than ever before about the brokers…

If you want to succeed, you may want an excellent attorney, the right paperwork, and, perhaps most importantly, a clear goal in mind for what you want out of FINRA’s dispute resolution process. Whether you’ve decided to file a FINRA arbitration claim or a request for mediation, adequate preparation is…

New Jersey broker Edward T. Murphy permanently barred by FINRA due to multiple allegations of misconduct. Multiple serious client complaints have plagued Wells Fargo broker, Edward T. Murphy over the last several years and he has now been permanently barred from all securities activity by the Financial Industry Regulatory Authority…

Allegations of churning, unsuitability, and questionable exercise of discretion surround barred broker. William Siegel began his securities industry career in 2001 with Citigroup Global Markets Inc. in New York. Shortly after moving to Morgan Stanley & Co. in 2007, Siegel received his first complaint arising out of the sale of…

Have you invested funds with Eugene Smietana? For investors who may have utilized the services of LPL Financial LLC broker Eugene Smietana out of Traverse City, Michigan, may have potential claims against LLP. As of September 2015, FINRA has permanently barred Smietana from acting as a broker or otherwise associating…

Financial broker finally barred from FINRA activity after decades of questionable behavior. After a career plagued by multiple and repeated allegations of breaches of fiduciary duty and unauthorized trading dating back to 1994, David Levy has been permanently barred by FINRA for acting as a broker in any capacity. These final…

Broker accused of taking $1.8M in trust assets while serving as a trustee. Samuel Wylie Sloane’s 15-year career in the securities industry ended abruptly in December 2015 when FINRA permanently barred him from acting as a broker or otherwise associating with firms that sell securities to the public. According to…

Sales practice violations, misconduct and failure to respond to a FINRA request for information lead to suspension Formerly registered with Ameriprise Financial in California, ex-broker Li-Line Hsu was recently suspended by the Financial Industry Regulatory Authority (FINRA). He was suspended under Rule 9552 which was failure to keep information current…