Articles Posted in Stockbroker Misconduct

According to FINRA Disciplinary actions for October 2015, 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   Bennett Scott…

According to FINRA Disciplinary actions for October 2015, 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   James Curtis Ackerman   Sloan Securities Corp   Aplan Securities, Inc.   Robert Joseph Altemus…

According to FINRA Disciplinary actions for October 2015, 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   Modesto Biney…

Broker Paul G. Shea (“Shea”)(CRD# 2868966) was permanently barred by FINRA commencing on July 16, 2015, for failing to respond to a FINRA request for information, pursuant to FINRA Rule 9552(d). Shea is barred from association with any FINRA member in any capacity. Shea failed to request termination of his…

Michigan broker Kenneth Hornyak (“Hornyak”)(CRD# 2990144), was permanently barred by the Financial Industry Regulatory Authority (“FINRA”) and is no longer licensed to act as a broker, or otherwise associate with firms that sell securities to the public. Hornyak is barred from association with any FINRA member in any capacity. According…

New York broker and financial advisor Paul Padovani (CRD# 2688559) was suspended by FINRA (Financial Industry Regulatory Authority) for four months from associating with any FINRA firm in any capacity, for borrowing $75,000 from a customer. Padovani’s actions violated FINRA Rules 3240 and 2010. According to his Letter of Acceptance…

According to recent SEC allegations, from approximately mid-2009 through at least July 2014, Jacob and Innovative Business Solutions, LLC (“IBS”), which Jacob owns and controls, engaged in a fraudulent scheme involving material misrepresentations and omissions and other deceptive devices and practices. Jacob engaged in this scheme in order to obtain…

Broker Salim Lyazidi (CRD# 4617448) was permanently barred by FINRA commencing on March 9, 2015, for failing to respond to a FINRA request for information, pursuant to FINRA Rule 9552(d). Lyazidi is barred from association with any FINRA member in any capacity. Lyazidi failed to request termination of his suspension…

Broker Ralph Oelbermann (CRD# 1962900) was permanently barred by the Florida Office of Financial Regulation (“OFR”) and fined $110,000 by state regulators commencing on October 24, 2014, for failing to respond to a Complaint by the OFR . He was terminated after customers allegedly reported unauthorized trading in their accounts.…

New York broker Nathalo Menendez (CRD# 4882003), was permanently barred by FINRA and is no longer licensed to act as a broker, or otherwise associating with firms that sell securities to the public. Menendez is barred from association with any FINRA member in any capacity. According to FINRA, during the…