Securities Arbitration Lawyers Blog

Patrick McGrath and Aaron Parthemer: Separate FINRA complaints for similar violations In two separate FINRA disciplinary actions, two South Florida investment brokers were found to have made loans to, or borrowed funds from, their firm’s customers without permission. Generally, brokerage firms prohibit stockbrokers from asking clients for personal loans or…

Allegations concern unsuitable, excessive and unauthorized trades for a 101-year-old customer After 16 years in the securities industry, FINRA barred Thomas Morley Hogle from acting as a broker or associating with FINRA members in a professional capacity on May 11, according to the FINRA website. The action comes in the…

Permanent action follows a three-month suspension from the securities industry According to the Financial Industry Regulatory Authority (FINRA), Neil J. Buysse has been permanently barred from practicing within the securities industry following a 2014 suspension. Buysse was suspended on Dec. 1 following his alleged failure to respond to a FINRA…

Diaz was also fined $10,000 amid allegations of fraud, negligence, unsuitability and misrepresentation After a 14-year career in the securities industry marred by 44 disclosure events, Anthony Diaz has been permanently barred from acting as a broker and fined $10,000 by FINRA on June 10, 2015. This follows allegations of…

Ohio broker Alex P. Anderson (CRD# 4243107) was permanently barred by FINRA in April 2015, for converting customer funds for his own use and benefit, in violation of FINRA Rules 2510 and 2010. According to the Letter of Acceptance Waiver and Consent, Anderson was appointed Power of Attorney over a…

The Financial Industry Regulatory Authority (“FINRA”) announced on April 27th that Avenir Financial Group (“Avenir”), its CEO Michael Clements (“Clements”), and registered representative Karim Ibrahim a/k/a Chris Allen (“Ibrahim”), consented to an order halting further fraudulent sales of equity interests in the firm and promissory notes, pending a hearing on…

Firm Allegedly Listed Commissions as “Miscellaneous” or “Additional Fees” BlackBook Capital, LLC, with headquarters on Wall Street in New York City, has been sanctioned by FINRA for allegedly mischaracterizing and understating commissions charged to its investors, among other charges. According to the FINRA disclosure, the firm –without admitting or denying…

New York broker and Chief Compliance Officer of Trident Partners Ltd., William Michael Quigley (CRD# 1968265), was permanently barred by FINRA commencing on June 23, 2015, for failing to respond to a FINRA request for information, pursuant to FINRA Rule 9552(d). Quigley is barred from association with any FINRA member…

Promises of safe bond investments result in lost nest eggs High returns and tax-free income and a government that could not default on its debt. If you think that sounds like a pretty sound investment, so did many who bought Puerto Rico bonds and leveraged bond funds sold by Swiss…

This final action follows two previously disclosed customer disputes Randy Bostick was barred from the securities industry following a suspension for failing to respond to a FINRA request for information. According to the FINRA website, Bostick, who was most recently employed by Janney Montgomery Scott LLC at the time of his…