Securities Arbitration Lawyers Blog

Allegedly provided false information to FINRA during investigation For Robert Charles Mangold, it seems it is the end of the line in the securities industry. Most recently employed by and registered with LPL Financial, LLC, Mangold is now permanently barred from acting as a broker or otherwise associating with firms…

The U.S. Securities and Exchange Commission (SEC) and the U.S. Attorney’s Office for the Southern District of Florida have each charged Miami-based investment advisor Phil Donnahue Williamson for his alleged role in a $2,000,000 Ponzi scheme that defrauded hundreds of retired public sector workers, including school teachers and law enforcement…

His career in securities ends with failure to respond to FINRA request After only six years in the securities industry, broker Charles Damien Johnson has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public. According to the FINRA BrokerCheck website,…

Broker Raymond Thomas Clark (CRD# 3120696) was permanently barred by FINRA for failing to appear for FINRA-requested on-the-record testimony related to an investigation into whether he executed excessive and/or unauthorized transactions in customer accounts, exercised discretion without authorization, and accepted trade instructions from an individual who was not authorized to…

Homer Vining was suspended by FINRA for failing to pay an arbitration award in a dispute with his former employer, Ameriprise Advisor Services, Inc.  Vining allegedly failed to repay a promissory note to Ameriprise upon termination of his employment in 2008.  Vining worked at J.P. Turner & Company, LLC from…

FINRA announced on May 6th that it censured and fined LPL Financial LLC (“LPL”) $10 million for supervisory failures in a number of different complex investment areas, including the sales of non-traditional exchange-traded funds (“ETFs”), certain variable annuity contracts, non-traded real estate investment trusts (“REITs”) and other products, as well…

Recently, the head of the Financial Industry Regulatory Authority (FINRA) told a congressional panel that the Securities and Exchange Commission (SEC) should take the lead in the development of a uniform fiduciary duty for broker-dealers and investment advisors. Currently, both the SEC and the Department Labor (DOL) are, independently, developing…

Amid claims of unsuitable investment advice, Molina does not respond to requests for information After not responding to a FINRA request for information, broker Pedro Molina is permanently suspended from the securities industry. According to the FINRA BrokerCheck website, Molina failed to request termination of his suspension from FINRA within…

The Silver Law Group has filed a securities arbitration claim before the Financial Industry Regulatory Authority (“FINRA”) on behalf of a family and a family business from South America alleging, among other things, that Dawson James failed to properly supervise one of its registered representatives, permitted an unsuitable investment strategy…

According to FINRA Disciplinary actions for May 2015, 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      Jinesh Pravin Brahmbhatt      Success Trade Securities, Inc.      LPL Financial Corporation      Patrick Ryan…