Articles Posted in Unsuitable Investment Advice

Silver Law Group is investigating Meyers Associates broker Matthew A. Siliato (CRD# 5062153) for recent allegations that he recommended clients unsuitable investments. Siliato’s Financial Industry Regulatory Authority (“FINRA”) BrokerCheck report indicates that the broker has nine misconduct disclosures. Siliato’s most recent complaint was filed on June 23, 2016.  The customer…

Newbridge securities advisor allegedly has conflict of interest between software company and his clients According to FINRA, Lawrence Michael LaBine is the subject of a disciplinary action pending against him after an alleged conflict of interest leading to several customer disputes. In his 29 years in the securities industry, LaBine…

Hedge fund firm owners agree to $5 million combined settlement On June 1, 2015 the Securities and Exchange Commission charged Greenwich, Connecticut-based AlphaBridge Capital Management and its two owners with fraudulently inflating the prices of securities in funds they managed. These inflated valuations caused the funds to pay higher management…

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…

James Edward Rooney Jr., of Carrollton, Texas, was fined by FINRA a total of $75,000, suspended from association with any FINRA member in any capacity for a total of two years and was suspended in any supervisory capacity for 18 months.  FINRA alleges that Rooney engaged in private securities transactions…

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…

NSM Securities, Inc. (CRD #134357, West Palm Beach, Florida) and Niyukt Raghu Bhasin (CRD #2282048, Wellington, Florida) submitted an Offer of Settlement to FINRA in which NSM Securities (“NSM”) was expelled from FINRA membership. Bhasin was barred from association with any FINRA member in any capacity. NSM and Bhasin consented…

According to recent SEC filings, the Endowment Master Fund LP, has offered investors an exit strategy from the hedge fund offering a new fund through a Private Placement Memorandum (PPM) which will be used to liquidate the Fund.  The Endowment Master Fund, LP was marketed heavily by Wall Street firms,…

Be prepared, the Securities Exchange Commission (SEC) warns investors, “to ask your insurance agent, broker, financial planner, or other financial professional lots of questions about whether a variable annuity is right for you.“ Investor education is the key to making informed investment decisions, but what questions should be asked? Investors…