According to FINRA Disciplinary actions for December 2021, 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 William Friedman…
Securities Arbitration Lawyers Blog
FINRA Suspends Registered Individuals For Violations Of FINRA Rules December 2021
According to FINRA Disciplinary actions for December 2021, 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. However, these individuals remain bound by…
FINRA Suspends Stockbrokers For Failing To Comply With FINRA Arbitration Award Or Settlement Agreement December, 2021
According to FINRA Disciplinary actions for December 2021, 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 Omer Ali-Taha BB&T Investment Services, Inc. Citigroup Global Markets Inc. Berkley Badger…
Did You Invest In An Aegis Financial IPO?
Did you participate in an initial public offering (IPO) sold by Aegis Capital Corp.? According to its website, Aegis has been bookrunner, placement agent, or co-manager for dozens of public offerings in recent years. IPOs, Pre-IPO Offerings, And SPACs Stock IPOs, pre-IPO offerings, and SPACs are often touted by stockbrokers…
SEC Files Fraud Charges In Texas-Sized Oil & Gas Ponzi Scheme Worth $122 Million
As part of an ongoing investigation into a Ponzi scheme involving five individuals and ten affiliated companies, the Securities and Exchange Commission (SEC) has filed fraud charges in the US District Court for the Northern District of Texas. The court also issued a temporary restraining order against all of the…
Did Your Brokerage Firm Go Out of Business?
A new study by the Public Investors Advocate Bar Association (PIABA) shows that broker-dealers and their affiliate firms might not honor claimant awards from FINRA arbitration. In 2020 alone, according to PIABA, 30 percent of FINRA awards went unpaid by member brokerages. In all, there were 64 FINRA-ordered awards to…
Did Your Financial Advisor Borrow Your Money?
Brokers and financial advisors are under a fiduciary duty to put the client first—a relationship that gets muddied whether the loan is in writing or not. The Financial Industry Regulatory Authority (FINRA) has a rule in place prohibiting a broker from borrowing or lending money to customers in most instances.…
Scott Silver A featured Guest On “The InvestmentNews Podcast”
Silver Law Group is currently suing a Long Island-based brokerage firm, which recently went out of business, on behalf of an elderly client who alleges his account was used by the firm’s brokers to generate over $200,000 in commissions via unapproved trades. The so-called churning scheme took place over a…
Common Investment Fraud Schemes
Investment fraud schemes vary, each with its own characteristics, except they share a similar red flag: they look too good to be true. Here are the most common. Ponzi Schemes Named after Charles Ponzi, who one hundred years ago touted he could deliver a 50% return within a matter of…
FINRA Bars Stockbrokers For Failing To Provide FINRA With Information November 2021
According to FINRA Disciplinary actions for November 2021, 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 Ryan Burneo…