Securities Arbitration Lawyers Blog

According to FINRA Disciplinary actions for October 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   Matthew Berman…

According to FINRA Disciplinary actions for October 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   Brett Bauer   BrokerBank Securities, Inc.   CapitalQuest Securities, Inc.   Carmine Berardi   First…

According to FINRA Disciplinary actions for October 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…

Kenneth Welsh (Kenneth Andrews Welsh CRD:# 4657872) is a former registered broker and investment advisor whose last known employer was Wells Fargo Clearing Services, LLC (CRD#:19616) of Fairfield, New Jersey. Previously, he was employed with three divisions of Smith Barney (CRD#: 149777, 8209, and 7556), also of Fairfield. He has…

The SEC has found that two businesses that were alleged to invest in acquiring and leasing real estate to cannabis companies are frauds. The three defendants who used two crowdfunding websites to raise capital for the alleged real estate businesses are: Robert Samuel Shumake, Jr., of Bloomfield Hills, Michigan, the…

Marc Reda (Marc Augustus Reda CRD:#2757330) is a registered broker currently employed with SPARTAN CAPITAL SECURITIES, LLC (CRD# 146251) of New York, NY. His previous employers include First Standard Financial Company LLC (CRD#:168340) of Staten Island, NY, PHX Financial, Inc. (CRD#:144403) and Laidlaw & Company (UK) Ltd. (CRD#:119037) also of…

Cynthia Komarek & Grant Birkley, two brokers formerly registered with SagePoint Financial of Barrington, IL, were terminated on the same day after the firm discovered that they were engaged in making referrals to an outside asset manager who was not approved by the board. Cynthia Komarek (CRD#: 1188714, aka (Cynthia…

A class action lawsuit has been filed on behalf of shareholders of stock in Vipshop Holdings Ltd. (VIPS), regarding alleged violations of federal securities laws. If you purchased or acquired shares of Vipshop Holdings Ltd. (VIPS) between March, 22, 2021 and March 29, 2021, please contact Scott Silver of Silver…

Daniel O’Neil and Douglas Szempruch, two brokers working for Aegis Capital Corp. (CRD#:15007) in Melville, NY, have faced disciplinary action FINRA after both were separately involved in improper activities. Daniel O’Neil (Daniel James O’Neil CRD#:1358245) is a former registered broker with Aegis, who discharged him on 7/29/2021 for failing to…

Paul Vizanko (Paul Warren Vizanko CRD:#2572222) is a former broker and investment advisor last employed with  Wells Fargo Clearing Services, LLC (CRD#:19616) of Duluth, MN. He was previously employed with Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691), also of Duluth, MN, Wells Fargo Investments, LLC (CRD#:10582) of Grand Rapids,…