Securities Arbitration Lawyers Blog

The Boston-based broker has been permanently barred by FINRA According to the Financial Industry Regulatory Authority (FINRA), Boston-based broker Rushton Leigh Ardrey failed to respond to the agency’s request for information and has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to…

According to FINRA Disciplinary actions for December 2016, 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   Maricela Alvarez…

According to FINRA Disciplinary actions for December 2016, 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   Keeland Douglas Howe   Wells Fargo Advisors, LLC   UBS Financial Services Inc.   Christopher…

According to FINRA Disciplinary actions for December 2016, 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   Troy Christopher…

A study funded by FINRA and AARP found that anger and excitement have an impact on decision-making A new Stanford University study funded by the Financial Industry Regulatory Authority’s (FINRA) Investor Education Foundation and AARP’s Fraud Watch Network states that financial fraudsters who evoke strong emotions in their victims can…

Silver Law Group is investigating Burnham Securities, Inc. (CRD# 22549) and related entities for allegations of its role as placement agent for fraudulent tribal bonds. In May 2016, the Securities and Exchange Commission (“SEC”) filed a complaint against a host of individuals, including notorious securities fraudsters Jason W. Galanis and…

On December 5, 2016, FINRA reported that it fined Credit Suisse Securities (USA) LLC (CRD# 816) $16.5 million for anti-money laundering (“AML”), supervision and other violations. According to the Acceptance, Waiver & Consent (“AWC”) entered into between Credit Suisse and FINRA, Credit Suisse neither admitted or denied the allegations but…

FINRA reported in a news release that it fined Merrill Lynch, Pierce, Fenner & Smith Inc. (CRD# 7691) $6.25 million and the firm will pay approximately $780,000 in restitution for inadequately supervising its customers’ use of leverage and  overconcentrating some of its customers in Puerto Rican bonds. According to the…

FINRA fined Oppenheimer & Co. Inc. (CRD# 249) and ordered the firm to pay retribution in an amount totaling $3.4 million for failing to produce documents in discovery to customers who filed FINRA arbitrations and for not applying applicable sales charge waivers to customers. According to the news release, FINRA…

One allegation against the former Innovation Partners LLC broker involved using an elderly client’s funds for his own benefit Joseph Butler is no longer allowed to conduct business through any member of the Financial Industry Regulatory Authority (FINRA). The former broker was notified in October of 2016 that he has…