Articles Posted in Stockbroker Misconduct

A former broker with Syndicated Capital in Great Neck, New York, Martin Knapp, was permanently barred by FINRA. This action occurred because Knapp failed to respond to a FINRA request for information in which he was suspended in April 2015. Because Knapp did not request termination of his suspension within…

Miami, Florida based broker Scott Reynolds was fined by FINRA for allegedly failing to report an outside brokerage account to his member firm, Spartan Securities, violating FINRA rules. Reynolds was censured fined $10,000 for this violation. Reynolds has been employed by Spartan Securities since 2005. Prior to working at Spartan,…

Ohio broker Alex P. Anderson (CRD# 4243107) was permanently barred by FINRA in April 2015, for converting customer funds for his own use and benefit, in violation of FINRA Rules 2510 and 2010. According to the Letter of Acceptance Waiver and Consent, Anderson was appointed Power of Attorney over a…

New York broker and Chief Compliance Officer of Trident Partners Ltd., William Michael Quigley (CRD# 1968265), was permanently barred by FINRA commencing on June 23, 2015, for failing to respond to a FINRA request for information, pursuant to FINRA Rule 9552(d). Quigley is barred from association with any FINRA member…

Broker Errol Constantine Hyde (CRD# 1812079) was permanently barred by FINRA commencing on June 23, 2015, for failing to respond to a FINRA request for information, pursuant to FINRA Rule 9552. Hyde is barred from association with any FINRA member in any capacity. Hyde failed to request termination of his…

Silver Law Group is investigating Indiana-based stockbroker Thomas Buck, who earlier this week was barred by the Financial Industry Regulatory Authority (FINRA) from associating with any FINRA member firm and was accused by FINRA of improperly charging customers and engaging in unauthorized trading. Mr. Buck, a former top broker for…

According to FINRA Disciplinary actions for June 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   Frank Carmen…

According to FINRA Disciplinary actions for June 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   Jason Wade…

Earlier this year, the Financial Industry Regulatory Authority (FINRA) barred Wesley Smith from working for any FINRA member.  The broker had been previously registered with Edward Jones from January of 2008 to September of 2014. According to the CRD, Mr. Smith had not passed any principal/supervisory exams, but had passed…

According to the Financial Fraud Research Center, Americans lose $50 billion each year to fraud. Further, research funded by the Financial Industry Regulatory Authority Education Foundation (Foundation) discovered that roughly 80 percent of consumers over the age of 40 said they had been solicited for a potentially fraudulent scheme. In…