Securities Arbitration Lawyers Blog

The SEC filed charges against a Pompano Beach, Florida-based company, its CEO and its top sales agent in late March 2017, accusing them of conducting a boiler room operation that bilked investors out of almost $5 million. According to the SEC’s complaint, CEO David Gray and sales agent Joseph A.…

The SEC announced an emergency asset freeze and temporary restraining order against a Chicago-based investment adviser and his financial management company accused of scamming elderly investors out of millions of dollars. In the SEC’s complaint, the SEC alleges that Daniel H. Glick (CRD# 2175655) and his unregistered investment advisory firm…

FINRA and the SEC adopted and approved a new rule that is intended to help curb elder financial fraud. In March 2017, FINRA adopted FINRA Rule 2165. Financial Exploitation of Specified Adults.  Shortly thereafter, the SEC approved the rule with an effective date of February 2018 set in place. FINRA…

FINRA recently amended a rule that would require brokerage firms to establish a contact for at-risk seniors. In March 2017, FINRA amended FINRA Rule 4512 to require member firms to make reasonable efforts to obtain the name and contact information for a trusted contact person upon the opening of a…

Silver Law Group is investigating former LPL Financial LLC (CRD# 6413) broker Robert N. Tricarico (CRD# 1500863) after he pled guilty to one count of wire fraud against an elderly investor in a federal court in Connecticut. According to Tricarico’s FINRA BrokerCheck, Tricarico pled guilty in June 2016 in a…

Silver Law Group is investigating former Texas-based Rhodes Securities, Inc. (CRD# 19610) broker Christopher P. Anthony (CRD# 1157930) after a customer filed a $2 million FINRA arbitration against him. According to Anthony’s FINRA BrokerCheck report, a customer filed a FINRA arbitration complaint in January 2017 against Anthony alleging breach of…

Silver Law Group is investigating former Puerto Rico-based Popular Securities, LLC (CRD# 8096) broker Manuel Angel Mejia-Gomez (CRD# 2259727) after FINRA suspended him. According to Mejia-Gomez’s FINRA BrokerCheck report, FINRA suspended and fined Mejia-Gomez in December 2016 for three months and fined him $15,000.  According to Mejia-Gomez’s BrokerCheck report, he…

Silver Law Group is investigating New York-based Beech Hill Securities (CRD# 24771) broker Frank Hamrak (CRD# 1385077) after a customer complaint filed against him alleging unsuitable recommendations settled. According to Hamrak’s FINRA BrokerCheck report, a customer complaint filed in November 2016 against Hamrak settled.  The complaint alleged unsuitability and settled…

The financial advisor’s alleged financial stress stemmed from gambling losses that exceeded his annual income. The Financial Industry Regulatory Authority (FINRA) is currently investigating former St. Louis, MO- and Oklahoma-based broker Austin Wayne Morton after his dismissal from his member firm, Edward Jones, under suspicion of elder fraud. According to…

Connell is reported to have stolen $5 million from his elderly clients In January, the Financial Industry Regulatory Authority (FINRA) permanently barred Barry Franklin Connell from working as a broker. The decision came after an investigation reported that he made numerous transfers from client accounts without authorization. FINRA first suspended…