FINRA Arbitration

Georgia Broker Clay Hoffman’s Registration Has Been Revoked – Investigation Update

January 18, 2017 | Silver Law Group

Georgia Broker Clay Hoffman’s Registration Has Been Revoked – Investigation Update on silverlaw.com

Hoffman, a former broker with SunTrust Investment Services in Waycross, Georgia had his FINRA registration revoked after being suspended

In June of 2016, Clay Hoffman was suspended by the Financial Industry Regulatory Authority (FINRA) for failing to provide information to the agency related to a number of allegations. In addition to unsuitable investment recommendations, Hoffman was accused of unauthorized trades and misrepresenting material facts.

Hoffman began work as a broker in 2001 with Edward Jones in St. Louis, and it didn’t take long before he ran into client issues. The first customer dispute came in 2006, and over the next nine years there were 13 more.

Broker Lance Slater Has Been Permanently Barred by FINRA

January 18, 2017 | Silver Law Group

Broker Lance Slater Has Been Permanently Barred by FINRA on silverlaw.com

The regulatory agency’s sanction is related to money allegedly borrowed from a client

In March of 2016, broker Lance Slater was barred by the Financial Industry Regulatory Authority (FINRA). The agency had requested that Slater get in touch to discuss allegations against him, but because he didn’t respond, he is no longer allowed to act as a broker or have any association with firms that sell securities.

The major complaint against Slater came from a former client. The client’s attorney alleged that in 2013, Slater borrowed over $200,000 from the client and was unable to pay it back. The lawyer also said that Slater traded the client’s money excessively in unsuitable investments.

Former Financial Telesis Broker Christopher Ariola Under Scrutiny by FINRA

January 18, 2017 | Silver Law Group

Former Financial Telesis Broker Christopher Ariola Under Scrutiny by FINRA on silverlaw.com

Allegations include unsuitable investing for concentrating elderly retiree investments in gold and energy stocks

Christopher Ariola has 16 years of experience in the securities industry, most recently with Financial Telesis, Inc. in Aliso Viejo, California. While Ariola is currently not registered as a broker or investment advisor, there remain four official customer disputes registered against him, according to the Financial Industry Regulatory Authority (FINRA) BrokerCheck website.

The pending customer disputes go back as far as August of 2012 and damages requested exceed $500,000.00 as a result of Ariola’s alleged actions. Some of the allegations against him include:

President and CEO Leigh Garber Suspended by FINRA

January 12, 2017 | Silver Law Group

President and CEO Leigh Garber Suspended by FINRA on silverlaw.com

It was the New Woodstock, NY executive’s second suspension in 10 months

In October, Leigh Garber received a three-month suspension from the Financial Industry Regulatory Authority (FINRA). It was the second time in 2016 that she was penalized by the agency.

An 18-year veteran of the securities industry, Garber first began with IBN Financial Services, Inc. in Liverpool, NY. She then proceeded to work for several firms in New Woodstock, NY, before starting at National Securities Corporation in November of 2015.

K.C. Ward Financial Broker Craig David Dima Under Investigation by FINRA

January 12, 2017 | Silver Law Group

K.C. Ward Financial Broker Craig David Dima Under Investigation by FINRA on silverlaw.com

Regulatory action is pending against New York financial advisor for unauthorized trading, misrepresentation and omissions, among other allegations

In August 2016, the Financial Industry Regulatory Authority (FINRA) initiated an investigation into allegations against Craig David Dima made by one of his long-standing customers. The complaint alleges that Dima made approximately 41 unauthorized sales of a company’s stock in the account of a senior customer. It also alleges that to conceal this unauthorized trading, Dima made fraudulent misrepresentations and omissions to the customer. In fact, it is alleged that Dima falsely told the customer that the sales were the result of computer issues, human error, or statements to that effect, rather than his unauthorized trades.

The customer, a 72-year old retired employee of Colgate-Palmolive Company (Colgate), worked 28 years for the company and accumulated the stocks throughout her career.

New Jersey Broker David Seigerman is Permanently Barred by FINRA

January 11, 2017 | Silver Law Group

New Jersey Broker David Seigerman is Permanently Barred by FINRA on silverlaw.com

Failure to respond to agency request ends Seigerman’s securities industry career

According to the Financial Industry Regulatory Authority (FINRA), New Jersey-based broker David Seigerman failed to respond to the agency’s request for information and a result has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public.

Working as a broker in the securities industry for twenty years, customer complaints about Seigerman’s performance began in 2007. Since then, there have been five customer disputes filed against him, according to his FINRA BrokerCheck report. Damage amounts requested against Seigerman exceed $1.3 million from customers claiming he engaged in unauthorized trading, breach of fiduciary duty, and unsuitability, among other allegations.

FINRA has Permanently Barred LPL Financial Broker Paul Dorion

January 4, 2017 | Silver Law Group

FINRA has Permanently Barred LPL Financial Broker Paul Dorion on silverlaw.com

Churning and aggressive trading were two allegations leveled against the Vermont broker

In July of 2016, the Financial Industry Regulatory Authority (FINRA) sent a letter out to broker Paul Dorion letting him know that he was being suspended due to a number of allegations. Dorion had until October to supply FINRA with more information in order to terminate the suspension, but because he failed to do so, he is now barred permanently from conducting business with any FINRA member.

Over the course of his 32-year career, Dorion worked for three different brokerage firms. In 1983, he began with American Capital Financial Services, INC. before moving on to Nathan & Lewis Securities, INC. in New York City. In 1992, Dorion started working for LPL Financial LLC out of Killington, Vermont.

Michael Siegel Suspended and then Permanently Barred by FINRA

December 29, 2016 | Silver Law Group

Michael Siegel Suspended and then Permanently Barred by FINRA on silverlaw.com

The New Jersey broker faces an assortment of serious allegations

Michael Siegel is no longer allowed to have anything to do with any member firms of the Financial Industry Regulatory Authority (FINRA). First suspended in July of 2016, Siegel was later permanently barred by FINRA for failing to respond to the agency’s request for information.

Beginning with Broadway Financial Investment Securities Corp. in 1989, over the next three decades, Siegel was registered with firms in St. Louis, San Diego, and New York City. Primarily, though, he conducted business out of New Jersey, last working for National Securities Corporation in Edison in May of 2016.

Broker Dawn Bennett Has Suspension Lifted by FINRA

December 29, 2016 | Silver Law Group

Broker Dawn Bennett Has Suspension Lifted by FINRA on silverlaw.com

Though she is not currently licensed, she was last employed as a broker with Western International Securities in Washington, DC

In August of 2016, Dawn Bennett was contacted by the Financial Industry Regulatory Authority (FINRA) with a request for information regarding an “investigation involving potentially serious violations.” Because Bennett didn’t respond, the agency suspended her. Although the suspension was lifted a short time later, the investigation continues.

Most recently, Bennett worked for Western International Securities in Washington, DC from October 2009 to December 2015. Prior to that Bennett has worked for a number of firms, including Royal Alliance Associates in Washington, DC, Legg Mason Wood Walker in Baltimore, and Citigroup Global Markets in New York City.

FINRA Permanently Bars Boca Raton Broker James Ignatowich

December 29, 2016 | Silver Law Group

FINRA Permanently Bars Boca Raton Broker James Ignatowich on silverlaw.com

The Newbridge Securities Corporation broker allegedly provided false information to regulators, among other transgressions

According to the Financial Industry Regulatory Authority (FINRA), Boca Raton broker James Ignatowich is reported to have failed to comply with a Consent Order entered into January 13, 2016 with the State of New Hampshire. As part of the Consent Order, Ignatowich was expected to make payments and file a lien on his personal residence, but he failed to do so. The regulatory agency has permanently barred him from acting as a broker or otherwise associating with firms that sell securities to the public.

In March 2015, the Newbridge Securities Corporation broker was temporarily suspended in New Hampshire for allegedly performing unlawful telemarketing and providing inaccurate and misleading information to the regulator during the investigation.