Articles Posted in sales practice violations

Phillip John Bucaro submitted a FINRA AWC in which he was fined $7,500 and suspended from association with any FINRA member in any capacity for four months. Bucaro has been registered with The Leaders Group, Inc. since August 2012.  Without admitting or denying the findings, Bucaro consented to the FINRA…

Meyers Associates, L.P. (CRD# 34171), Imtiaz A. Khan (CRD# 4084250) and Bruce Meyers (CRD# 1045447), of New York, New York, were named respondents in a FINRA complaint alleging that the firm and Meyers engaged in the improper public offering and sale of unregistered securities, in contravention of the Securities Act…

According to FINRA Disciplinary actions for December 2014, 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 Donald…

According to FINRA Disciplinary actions for December, 2014, 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 Joshua Robinson Ballinger Fifth Third Securities, Inc. Banc One Securities Corporation Patrick Ryan Bray Newbridge Securities…

According to FINRA Disciplinary actions for November, 2014, 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 Emily Maureen Allred…

Last week, the Financial Industry Regulatory Authority (FINRA) filed charges against Newport Coast Securities, Inc. (“Newport Coast”) and some of its current and former registered representatives, accusing them of using margin and risky securities to artificially generate huge commissions for themselves while wiping out most of their customers’ investment capital.…

According to the Sun Sentinel, the Palm Beach County Sheriff’s Office has charged Sultaine Valcius of Boynton Beach with fraud after taking $1.4 million from a 93 year-old man that hired her as a medical aide. The Sun Sentinel reports Sultaine Valcius, 48, is charged with organized scheme to defraud…

In July 2013, the U.S. Securities and Exchange Commission (“SEC”) issued a lifetime ban upon Carl Birkelbach, the founder and principal of Birkelbach Investment Securities (headquartered in Chicago, Illinois), which prevents him from participating in any working capacity in the securities industry.  Mr. Birkelbach appealed the SEC’s ban, claiming in…

The Financial Industry Regulatory Authority (FINRA) announced a fine against Merrill Lynch, Pierce, Fenner & Smith, Inc. for $8 million for charging excessive mutual fund sales charges for retirement accounts. FINRA also ordered Merrill Lynch to pay $24.4 million in restitution to damaged customers on top of $64 million Merrill…

If the Connecticut Department of Banking (the “Department”) has its way, Meyers Associates and its owner, Bruce Meyers, will be barred from selling securities in Connecticut. A February 2014 Order to Cease and Desist issued by the Department, charges Meyers Associates and Bruce Meyers (“Respondents”) with numerous violations of Connecticut…