A National Securities Arbitration & Investment Fraud Law Firm
Marcello Lattuca (CRD: #2149434) is a registered broker currently registered with NBC Securities (CRD: #17870) in Massapequa, NY. His previous employers include JHS Capital Advisors, LLC (CRD#:112097), also of Massapequa, Gunnallen Financial, Inc. (CRD#:17609) of Plainview NY, and Kirlin Securities Inc. (CRD#:21210, expelled by FINRA in 2009) of Syosset, NY. He has been in the industry since 1991. Continue reading ›
According to FINRA Disciplinary actions for July 2020, 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 |
| Joanna Abdelhadi | Wells Fargo Clearing Services, LLC |
| Credit Suisse Securities (USA) LLC | |
| Kenneth Butschek | ProEquities, Inc. |
| Securities Management & Research, Inc. | |
| Nathaniel Clay | Laidlaw & Company (UK) Ltd. |
| National Securities Corporation | |
| Paula Collins | TIAA-CREF Individual & Institutional Services, LLC |
| Oppenheimerfunds Distributor, Inc. | |
| Alan Lau | Wells Fargo Clearing Services, LLC |
| Wells Fargo Investments, LLC | |
| Stanley Martin | Allstate Financial Services, LLC |
| H&R Block Financial Advisors, Inc. | |
| Scott Mason | Voya Financial Advisors, Inc. |
| Western Wealth Management, LLC | |
| John Santariello | Arive Capital markets |
| Cape Securities Inc. | |
| Marc Winters | Wedbush Securities Inc. |
| UBS Financial Services Inc. |
The Financial Industry Regulatory Authority (“FINRA”) provides an arbitration process for investors to resolve disputes with their securities advisors. Among other things, the FINRA arbitration process helps parties avoid the expenses and waiting periods associated with filing a case in state or federal court. FINRA also writes special rules and regulations specially tailored to these investment-related disputes. Continue reading ›
According to FINRA Disciplinary actions for June 2020, 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 |
| Eric Barbour | Wells Fargo Clearing Services, LLC |
| J.P. Morgan Securities LLC | |
| David Cannata | Craig Scott Capital, LLC |
| Brookstone Securities, Inc. | |
| Mark Garfinkel | Oppenheimer & Co. Inc. |
| Raymond James & Associates, Inc. | |
| Jeffrey Hill | Wells Fargo Advisors |
| Dougherty & Company LLC | |
| Tracy Kirby | Morgan Stanley |
| Merrill Lynch, Pierce, Fenner & Smith Inc | |
| David Moxom | UBS Financial Services Inc. |
| Wells Fargo Advisors, LLC | |
| Brent Porges | Meyers Associates, L.P. |
| Newbridge Securities Corporation | |
| David Schrank | MML Investors Services, LLC |
| Bankers Life Securities, Inc. | |
| Stephen Seglund | Kestra Investment Services, LLC |
| LPL Financial LLC | |
| Kenneth Vaishville | Cantella & Co, Inc. |
| Global Capital Strategies |
Silver Law Group recently filed a FINRA arbitration claim against Madison Avenue Securities, LLC and registered representatives Angela Sloan, Robert Luley, Jr., and Katherine Spearman (a/k/a Katherine McConnell). The investor’s claims arise out of recommendations to invest in GPB Automotive Portfolio, LP, a private placement managed by GPB Capital Holdings, LLC. Among other things, the investor alleges that Madison Avenue Securities and its registered representatives failed to conduct adequate due diligence on the GPB investment and that the recommendation to invest in GPB was unsuitable, negligent, and constituted a breach of fiduciary duty. Continue reading ›
Investors whose brokers or financial advisors recommended that they invest in Steepener Notes (a/k/a “Steepeners”) may have incurred losses due to the risky and complex nature of these products. Steepeners, which are tied to U.S. treasury interest rates, have left investors stuck in illiquid investments while receiving little to none of the regular income they were promised.
Steepener Notes are non-traditional and long-term investments that pay a quarterly or monthly interest payment that is tied to the yield curve, which measures the interest rates on U.S. Treasury securities. Steepener Notes are a type of “structured product”: for the first year or two, the issuer pays investors an above-average rate of interest (often referred to as “teaser” rate), and then, for the remainder of the note—often 15-30 years—the rate is determined by a complex formula. Continue reading ›
Silver Law Group is currently investigating broker-dealer firms and financial advisors that improperly marketed and sold Steepener Notes, which are non-traditional, long-term, illiquid, and highly complex products that many brokerage firms have been selling to unsuspecting clients over the past decade.
Steepener Notes are structured products that pay a regular interest payment that is tied to the yield curve, which measures interest rates on U.S. Treasury securities. The amount of the payment is calculated based on the difference between long-term and short-term interest rates. Thus, the “steeper” the curve, the better the investment performs. However, it means that Steepener Notes are risky. If the yield curve is flat, as it has been for much of the last decade, the payments to investors are minimal or zero. Similarly, if the yield curve is inverted, as it was in 2018, investors do not receive any interest payments. Continue reading ›
Jose Cornide (CRD#: 2785918), a currently-registered broker with UBS Financial Services (CRD#: 8174) in Coral Gables, Florida, is the subject of 12 disclosures on his publicly-available FINRA BrokerCheck report. All 12 disclosures are customer disputes.
11 of the customer disputes were filed in 2019 and 2020 and seem to involve investment in the UBS Yield Enhancement Strategy (YES), a complex options trading scheme that was marketed as safe, but actually involved significant risk and caused some investors to suffer considerable losses. Continue reading ›
GPB Capital Holdings, LLC is accused by Massachusetts securities regulators of violating state laws by misleading investors about its finances. GPB is now the subject of an administrative enforcement action from the Massachusetts Secretary of the Commonwealth Securities Division.
The action against the troubled New York-based alternative asset management firm was announced on May 27, 2020 and comes after GPB took in more than $14 million from over 180 investors in the state.
GPB raised at least $1.3 billion by paying high commissions to broker-dealers such as Sagepoint Financial for selling private placements in GPB’s funds to investors who were promised high dividend payments in return for their investment. Continue reading ›
According to FINRA Disciplinary actions for January 2020, 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 |
| Callagy, Christopher | Aegis Capital Corp |
| Oppenheimer & Co Inc | |
| Costanzo, Anthony | AXA Advisors, LLC |
| Dininno, Matthew | Morgan Stanley |
| Merrill Lynch, Pierce, Fenner & Smith Inc | |
| Dow, Rodrick | Securities America, Inc |
| Cetera Financial Specialists LLC | |
| Eckstein, Matthew | Sisk Investment Services, Inc |
| Gould, Ambroson & Associates LTD | |
| Fleming, David Jr. | Stifel, Nicolus & Company, Inc |
| Sterne, Agee & Leach, Inc | |
| Kievman, Cary | Ameriprise Financial Services, Inc |
| Morgan Stanley Smith Barney | |
| Krupnick, Jeffrey | Ameriprise Financial Services, Inc |
| JHS Capital Advisors, LLC | |
| Lake, Jonathan | Wells Fargo Clearing Services, LLC |
| Morgan Stanley | |
| McCutchen, Jerry Sr. | Berthel, Fisher & Company Financial Services |
| Next Financial Group, Inc | |
| Roveccio, Rocco | First Standard Financial Company LLC |
| Alexander Capital, LP |
Securities Arbitration Lawyers Blog