Articles Posted in Stockbroker Misconduct

According to FINRA, Thomas Tedeschi has recently been named in a securities arbitration lawsuit against him and his former employer, Aegis Capital Corp., for making unsuitable investments, unauthorized trades, misrepresentations and excessive trading (churning), among other claims.  The assertions against him involve speculative securities that include penny stocks and Exchange…

Herbert Leonard Kaye, of Delray Beach, Florida, submitted an AWC in which he was assessed a deferred fine of $25,000, which includes disgorgement of $11,000 of commissions received, and suspended from association with any FINRA member in any capacity for four months. Kaye was registered with First Allied Securities in…

David Lawrence Gabai, of West Hills, California, submitted a FINRA AWC in which he was barred from association with any FINRA member in any capacity.  Gabai was registered with LPL Financial Corporation until 2010.  Mr. Gabai then briefly worked for Comerica Securities.  Gabai consented to the sanction and to the…

Mark Foster, of Pasadena, California, was barred from association with any FINRA member in any capacity. Foster worked for Stern Fisher Edwards, Inc. until May 2012.  The sanction was based on findings that Foster failed to respond to requests from FINRA for information and documents and to appear and provide…

Anthony Fisher was a financial advisor with Morgan Stanley from 2003 through April 2009.  He subsequently worked at Stifel, Nicolaus and Company.  Mr. Fisher was suspended by FINRA in November 2014 for failing to pay an arbitration award.  However, over the last decade, Mr. Fisher’s employers have been the subject…

Timothy Landrum, of Atlanta, Georgia, submitted an AWC in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Landrum consented to the sanction and to the entry of findings that he failed to provide FINRA with on-the-record testimony in connection…

According to FINRA Disciplinary actions for December, 2014, 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 Bryan Wayne Anderson…

Silver Law Group is investigating Stephen Eldridge Ridgely, II who was suspended by FINRA for failing to respond to FINRA requests for information. Mr. Ridgely was registered with Ameriprise Financial Services, Inc.’s Plantation, Florida office from September 2012 through March 2014.  Prior to that time, he was registered with Merrill…

Chapin Davis, Inc., of Baltimore, Maryland, submitted an AWC in which the firm was censured and fined by FINRA $35,000. Without admitting or denying the findings, Chapin Davis agreed to the sanctions and to the findings in connection with the sale of structured products, the firm’s supervisory system and WSPs…

Patricia Miller was associated with Investors Capital Corp from July 2010 until Investors Capital Corp fired her in May 2014.  In October 2014, FINRA suspended her in all capacities from any FINRA firm for her failure to cooperate in a FINRA investigation.  Investors Capital Corp is now facing multiple arbitration…