Securities Arbitration Lawyers Blog

Wedbush Securities is facing discipline from the SEC, NYSE, and FINRA for a manipulative trading scheme involving its founder, Edward Wedbush. According to a recent article by InvestmentNews.com, however, all three agencies were well aware of problems within Wedbush for many years, but handed down no real, meaningful punishment to…

Educate yourself so you can protect yourself or your loved ones While the health of your senior loved ones might be the main thing you focus on, there are other areas you can’t ignore, such as their finances. Just as you want to ensure that they are safe when driving,…

The Commission proposes new regulations for financial advisors and dealer-brokers to avoid conflict of interest While the Department of Labor (DOL) passed a fiduciary rule governing investment advice to retirees in 2016, a federal appeals court struck it down in its entirety in March of this year. Considered by its…

Silver Law Group announces that a class action lawsuit has been filed against Cancer Genetics, Inc. (“Cancer Genetics” or the “Company”) (CGIX) and certain of its officers. The class action, filed in United States District Court, District of New Jersey, and docketed under 18-cv-06353, is on behalf of a class…

According to FINRA Disciplinary actions for May 2018, 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   Benjamin Glasser…

According to FINRA Disciplinary actions for May 2018, 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   Lawrence Joseph Alfano   Blackbook Capital LLC   EKN Financial Services INC   Terry Dean…

According to FINRA Disciplinary actions for May 2018, 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   Fernando Enrique…

Silver Law Group is investigating Wilmington, Delaware-based Coastal Equities, Inc. (CRD# 23769) broker Luke Johnson (CRD# 461987) for unsuitable recommendations in non-traded REITs, annuities and other illiquid investments. In August 2017, a Coastal Equities customer filed a FINRA arbitration alleging that Johnson recommended unsuitable securities purchased in approximately 2015.  The…

The recent arrest of former broker Gary Basralian (CRD #14385) for defrauding two clients of $2.1 million also raises allegations of failure to supervise about his brokerage firm, Royal Alliance Associates (CRD #23131.) According to news reports, Basralian embezzled money from two elderly women and used the funds for his…

FINRA has barred former broker Gary Basralian (CRD# 14385) after allegations of stealing more than $2 million from two clients and using the money to pay his personal expenses. He is charged with two counts of wire fraud and one count of investment adviser fraud. His last employer was Royal…