Securities Arbitration Lawyers Blog

Advisors and other trusted professionals have an ethical duty to stop senior financial fraud Elder financial fraud is an increasingly serious issue in the U.S. As more Americans become seniors – at the rate of about 10,000 a day – new victims across the country are feeling the consequences. This…

Research suggests nearly 40% of American seniors may experience financial abuse Across the U.S., millions of seniors each year become the victims of fraudulent financial and investment scams. In fact, one recent survey reported that 37% of senior caregivers said their client had been a victim of financial fraud or…

FINRA has barred Fort Lauderdale, Florida-based broker Douglas W. Studer (CRD# 4440047) for refusing to testify on the record in a FINRA-led investigation into whether Studer violated his employing firm’s policy by being named in an elderly customer’s estate documents to inherit the customer’s waterfront condominium. Studer was employed by…

Silver Law Group is investigating former Deerfield, Illinois-based Morgan Stanley Smith Barney broker Brian C. Sak (CRD# 3259830) after he was terminated for allegations that he placed customers in unapproved investments. According to Sak’s FINRA BrokerCheck Report, he was terminated on May 17, 2016 by Morgan Stanley (CRD# 149777) due…

Silver Law Group is investigation former Tennessee-based Woodbury Financial Services, Inc. broker David A. Ross (CRD# 3021782) for allegedly failing to disclose an outside business activity and accepting loans from firm clients. According to Ross’s FINRA BrokerCheck report, Woodbury Financial Services (CRD# 421) discharged Ross in April 2016 for the…

Silver Law Group is investigation former Florida-based Fidelity Brokerage Services LLC (CRD# 7784) broker Michael J. DeBoer (CRD# 2114067) for allegedly conducting outside business activities without notifying Fidelity and losing his customers a great deal of money in the process. According to DeBoer’s FINRA BrokerCheck, FINRA permanently barred DeBoer in…

Silver Law Group is investigating former Ohio-based Concorde Investment Services, LLC (CRD# 151604) broker Larry S. Werbel (CRD# 828351) for three pending FINRA arbitrations and a litany of disclosures on his FINRA BrokerCheck report. According to Werbel’s FINRA BrokerCheck report, Werbel has three pending FINRA arbitrations filed in the last…

Silver Law Group is investigating former Connecticut-based Investacorp, Inc. (CRD# 7684) broker Warren M. Rockmacher (CRD# 2005652) after FINRA suspended and then permanently barred the broker. Rockmacher currently has a FINRA arbitration pending that alleges unsuitable recommendations and misrepresentation with damages in the amount of $75,000. On May 12, 2016,…

Silver Law Group is investigating former UBS Financial Services Inc. (CRD# 8174) broker Michael R. Smith (CRD# 428405) after UBS terminated the broker. UBS terminated Smith, based out of Aventura, Florida, in October 2015 after he failed to disclose to the firm that he was named trustee for the trust…

Silver Law Group is investigating former PFS Investments Inc. (CRD# 10111) Charles Little (CRD# 2632450) for felony criminal charges involving cocaine. According to Little’s FINRA BrokerCheck report, Little was charged with five felony criminal charges on February 19, 2015.  The charges are all drug-related, including selling and trafficking cocaine. Upon…