Securities Arbitration Lawyers Blog

Silver Law Group is investigating former Houston, Texas-based Park Avenue Securities (CRD# 46173) broker Lizabeth Gotuaco Ty (CRD# 4737319) (also known as “Beth Ty”) after FINRA permanently barred her. According to Ty’s FINRA BrokerCheck report, FINRA permanently barred Ty in May 2016 after she failed to provide documents and information…

Silver Law Group is investigating Houston, Texas-based IMS Securities Inc. (CRD# 35567) broker Michael J. Spears (CRD# 4501523) after two (2) customers filed complaints against Spears regarding non-traded REITs. According to Spears’ FINRA BrokerCheck report, two customers filed complaints against Spears in 2016.  The first, in August 2016, alleges negligence,…

The SEC National Exam Program concentrates on monitoring risks specific to elderly and retiring investors, at a time when it is needed most Here’s the good news: in United States, people are living longer. As a result of this trend, the aging population in the U.S. is becoming more and…

Unnecessary trading leads to losses for many investors, and the elderly are especially vulnerable to churning Churning is the process of a broker or investment adviser making unnecessary trades for a client with the sole or primary purpose of generating commissions. While there is no specific test to determine if…

The agency plans to get tougher on brokers and firms throughout 2017 The SEC’s Office of Compliance Inspections and Examinations (OCIE) has a new series of goals for 2017. The agency’s department, which is responsible for examining brokers, firms, and financial products to prevent fraudulent activities, identify risks, and inform…

Allegations include non-disclosure, false statements, and being named executor of an elderly client’s estate William Stephen Smith, a broker with nearly 30 years of professional experience, was fined $10,000 and suspended for three months by the Financial Industry Regulatory Authority (FINRA). It’s reported that Smith didn’t disclose that he had…

Jacobson was sanctioned for failing to supervise a broker who is accused of executing unsuitable investments for elderly clients The Financial Industry Regulatory Authority (FINRA) suspended Minnesota broker Jeffrey Jacobson for 15 days ending on December 12th, 2016 and fined him $7,500. Jacobson is alleged to have failed to adequately…

He allegedly misrepresented information regarding both fixed and variable annuities to customers who suffered financial losses as a result While the Financial Industry Regulatory Authority (FINRA) permanently barred former NYLife Securities LLC broker Amr Mostafa Aboulmagd in October 2016, additional complaints continue to be filed against him. With a total…

The Parsippany, New Jersey broker was also hit with a $10,000 fine Up until recently, Rembert McNeer had a clean record with the Financial Industry Regulatory Authority (FINRA). A broker for over 30 years, McNeer worked for three firms: E.F. Hutton & Company Inc.; G.A. Michele, Inc. in New York…

Silver Law Group is investigating Catalyst Capital Advisors LLC (CRD# 139895/ SEC# 801-66886) (“Catalyst”) and one of its mutual funds, Catalyst Hedged Futures Strategy Fund Class I (“HFXIX”) after the fund lost approximately 30 percent of its value in the span of three months. HFXIX is a fund that seeks…