Articles Posted in FINRA Disciplinary Actions

According to FINRA Disciplinary actions for March 2019, the following individuals were barred from FINRA and cannot currently work for a FINRA brokerage firm for failing to provide FINRA with information it requested or to keep information current with FINRA pursuant to FINRA rules: NAME FORMER EMPLOYERS   Alfaro, Jennifer…

The Financial Industry Regulatory Authority Inc. fined H. Beck $400,000 on November 20, 2018 for failing to maintain and enforce its own written supervisory procedures. Failing to maintain their procedures has resulted in the unsuitable sale of L-share variable annuities tied to long-term riders. H. Beck is an independent broker-dealer…

According to FINRA Disciplinary actions for February 2019, the following individuals were suspended from FINRA and cannot currently work for a FINRA brokerage firm for failing to provide FINRA with information it requested or to keep information current with FINRA pursuant to FINRA rules: NAME FORMER EMPLOYERS   Bishop, Tywan…

According to FINRA Disciplinary actions for February 2019, the following individuals were barred from FINRA and cannot currently work for a FINRA brokerage firm for failing to provide FINRA with information it requested or to keep information current with FINRA pursuant to FINRA rules: NAME FORMER EMPLOYERS   Arizmendi, Jose…

According to FINRA Disciplinary actions for February 2019, the following individuals were suspended from FINRA for failing to comply with a FINRA arbitration award or settlement agreement pursuant to FINRA rules: NAME FORMER EMPLOYERS   Grossman, Robert   David Lerner Associates, Inc   National Planning Corporation   Jacobowitz, Oded  …

On May 1, 2018, FINRA Department of Enforcement entered into a settlement via Acceptance, Waiver, and Consent (AWC) with Respondent Laidlaw & Company. Without admitting or denying any wrongful acts, Laidlaw consented to a public censure by FINRA, the imposition of a $25,000 fine, as well as agreeing to give…

FINRA recently fined LPL Financial (CRD #6413) for failing to disclose customer complaints and for failures in the firm’s anti-money laundering (AML) program. A misunderstanding with FINRA’s rule caused LPL to ignore dozens of customer complaints. The firm incorrectly failed to file and/or update registered representatives U4 or U5 forms…

Robert Edward White (CRD #3077959) is a former registered broker whose last employer was Raymond James Financial Services, Inc. (CRD #6694) of East Hampton, NY. His previous employer was 1st Global Capital Corp. (CRD #30349) of Dallas, TX. No current employment information is available. He has been in the industry…

Back in October, we told you about Kyusun Kim (CRD #2864085), a broker who was barred by FINRA after it was discovered he approached individuals who were near or at retirement age, and urged them to liquidate their pensions to invest in “alternative investments.” These investments included risky, non-traded real estate…

Mohamed Racheed Yassin (CRD #1673281) is a previously registered broker and investment advisor whose last employer was National Securities Corporation (CRD #7569) of Westbury, NY. His previous employers include Morgan Stanley (CRD #149777) of Garden City, NY, UBS Financial Services Inc. (CRD #8174) of Uniondale, NY and Prudential Securities Incorporated…