Articles Posted in FINRA

How the company has violated or been accused of violating FINRA regulations It is always important for investors to have a good understanding of the financial professionals they work with. Before handing over money to anyone, brokers should be vetted properly. This is why the Financial Industry Regulatory Authority (FINRA)…

In February 2017, after approval by the SEC, the Financial Industry Regulatory Authority (FINRA) put into effective two initiatives: a new rule and an amendment to an old one. Rule 2165 (Financial Exploitation of Specified Adults) allows member financial professionals or firms to place temporary holds on securities or the…

The broker is accused of violating FINRA rules by borrowing money from a client In May of this year, the Financial Industry Regulatory Authority (FINRA) contacted broker Christopher Anthony Fernan to get information involving a customer dispute. Because he failed to respond to the agency, he received a three-month suspension,…

Allegations against the former broker include unauthorized trading, unsuitability, and fraud, among others With 38 years of experience in the securities industry, Boca Raton-based Stoever, Glass & Company, Inc. broker Larry Charles Wolfe has a total of 14 disclosures listed on his Financial Industry Regulatory Authority (FINRA) BrokerCheck report. Most…

Schaedler is alleged to have exercised undue influence with elderly client owning $2.3 million-dollar estate. After 16 years in the securities industry, Wells Fargo Clearing Services broker James R. Schaedler is now indefinitely barred by the Financial Industry Regulatory Authority (FINRA). According to his FINRA BrokerCheck report, Schaedler was discharged…

The New York broker has been charged with numerous violations, including misappropriation Though he’s currently not registered with a firm, Demitrios Hallas may never be allowed to work as a broker again. According to the SEC, from March 2014 to May 2016, Hallas violated a variety of anti-fraud provisions by…

Outside business activities involving elderly clients cost him his career As of April 2017, Timothy David Ballard is no longer allowed to act as a broker or have anything to do with firms that sell securities to the public. It was then that he was permanently barred by the Financial…

Failure to respond to regulatory agency requests ends the securities industry career of this New Jersey-based broker According to the Financial Industry Regulatory Authority (FINRA), David Aaron Seigerman failed to respond to the agency’s requests for information concerning his compliance with arbitration awards or settlement agreements with his customers. In…

The Clearwater, FL broker reportedly failed to disclose his Power of Attorney over an elderly customer For a decade, John Patrick Wheeler reportedly acted as Power of Attorney for an elderly client. In that time, he is reported to have received over $7,000 for his services, obtained via checks he…

In April, we brought you the story of Kelly Althar, a broker who received a permanent ban from the Financial Industry Regulatory Authority (FINRA). Here is additional information that explains why FINRA made this ruling. While working for the Financial West Group, Althar reportedly began making investments for an elderly…