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Articles Posted in FINRA Disciplinary Actions

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Dudley Stevens (CRD#: 4119268, aka “Stephen Franklin Dudley”) is a previously registered broker and investment advisor whose last known employer was Coastal Equities, Inc. (CRD#:23769) of New York, NY. Previous employers include Prospera Financial Services, Inc. (CRD#:10740), Wells Fargo Advisors, LLC (CRD#:19616), and HSBC Securities (USA) INC. (CRD#:19585), also of New York City.  In addition to New York, he has also worked in Birmingham, AL, Dallas, TX, Boca Raton, FL, and Carle Place, NJ. He has been in the industry since 2000.Coastal Equities terminated Stevens’ employment on 7/20/2018 after he was “reviewed for suspicious letters of authorization concerning third party wires.”  No additional information is available, and Coastal Equities was his most recent broker registration.Dudley Stevens (CRD#: 4119268,aka “Stephen Franklin Dudley”) is a previously registered broker and investment advisor whose last known employer was Coastal Equities, Inc. (CRD#:23769) of New York, NY. Previous employers include Prospera Financial Services, Inc. (CRD#:10740), Wells Fargo Advisors, LLC (CRD#:19616), and HSBC Securities (USA) INC. (CRD#:19585), also of New York City.  In addition to New York, he has also worked in Birmingham, AL, Dallas, TX, Boca Raton, FL, and Carle Place, NJ. He has been in the industry since 2000. Continue reading ›

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John Spach (CRD#: 2731192) is a former registered broker and investment advisor whose last known employer was Kestra Investment Services, LLC (CRD#: 42046) of Aliso Viejo, CA. His previous employers include Financial Telesis Inc (CRD#: 31012) and Financial West Group (CRD#: 16668), both of Westlake Village, CA, and Sentra Securities Corporation (CRD#: 10249) of Phoenix, AZ. He has been in the industry since 1996.Spach has three disclosures, all within a one-year time frame. The first was filed on 2/6/2018, after Spach introduced a non-firm client of his own independent registered investment advisor (RIA) to an outside investor. This client invested $450,000 into a promissory note with the outside investor. This activity took place completely outside of Kestra’s auspices, and the note later defaulted. The client informed Spach of the defalt, and Spach agreed to settle the account and reimburse the client for the full $450,000, plus interest until paid.John Spach (CRD#: 2731192) is a former registered broker and investment advisor whose last known employer was Kestra Investment Services, LLC (CRD#: 42046) of Aliso Viejo, CA. His previous employers include Financial Telesis Inc (CRD#: 31012) and Financial West Group (CRD#: 16668), both of Westlake Village, CA, and Sentra Securities Corporation (CRD#: 10249) of Phoenix, AZ. He has been in the industry since 1996. Continue reading ›

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William Christian Gennity (CRD#: 4913490, aka “Billy Christian Gennity”) is a former registered broker whose last known employer was First Standard Financial Company LLC (CRD#: 168340) of Staten Island, NY. Previous employers include Alexander Capital, L.P. (CRD#: 40077) and Legend Securities, Inc. (CRD#: 44952, expelled by FINRA on 4/17/2017), both of New York City, and National Securities Corporation (CRD#: 7569) of Iselin, NJ. No current employment information is available. He began in the industry in 2005.Gennity is the subject of twelve disclosures dating back to 2014, eight of which are customer disputes, two closed with no actions. Four of these are regulatory/civil matters involving the Securities and Exchange Commission (SEC), the State of Montana, and the Financial Industry Regulatory Association (FINRA), barring him from any and all association with broker-dealers and acting as a broker or in any other capacity.William Christian Gennity (CRD#: 4913490, aka “Billy Christian Gennity”) is a former registered broker whose last known employer was First Standard Financial Company LLC (CRD#: 168340) of Staten Island, NY. Previous employers include Alexander Capital, L.P. (CRD#: 40077) and Legend Securities, Inc. (CRD#: 44952, expelled by FINRA on 4/17/2017), both of New York City, and National Securities Corporation (CRD#: 7569) of Iselin, NJ. No current employment information is available. He began in the industry in 2005. Continue reading ›

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Broker Yassin Mohamed (CRD #1673281) is a barred broker who formerly worked for National Securities Corporation (CRD#: 7569). His other former employers include Morgan Stanley (CRD#: 149777), UBS Financial Services Inc. (CRD#: 8174), and Prudential Securities Incorporated (CRD#: 7471).Mohamed is the subject of five disclosures, including 2 customer disputes, 2 regulatory disputes, and 1 termination.The first customer dispute was filed on 2/7/2017, and “Claimant alleged, inter alia, excessive trading with respect to trust accounts – 2012 to 2016.” The claimants requested damages of $3,500,000. The case was settled for $457,034.Broker Yassin Mohamed (CRD #1673281) is a barred broker who formerly worked for National Securities Corporation (CRD#: 7569). His other former employers include Morgan Stanley (CRD#: 149777), UBS Financial Services Inc. (CRD#: 8174), and Prudential Securities Incorporated (CRD#: 7471).

Mohamed is the subject of five disclosures, including 2 customer disputes, 2 regulatory disputes, and 1 termination. Continue reading ›

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David Howard Fagenson (CRD#: 1652012) is a previously registered broker and current investment advisor whose last employer was Newbridge Securities Corporation (CRD#:104065) of Boca Raton, FL. His previous employers include UBS Financial Services Inc. (CRD#:8174) of Palm Beach, FL, Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of West Palm Beach, FL, and Morgan Stanley DW Inc. (CRD#:7556) of Purchase, NY. No current employment information is available. He has been in the business since 1987.FINRA suspended Fagenson for exercising de facto control over the accounts of three senior investors without their consent, making unsuitable trades, losing money from the accounts and generating excess commissions for himself and his firm while at UBS. Fagenson was found to have engaged in “quantitatively unsuitable trading” in three accounts of senior investors, between January 2012 and September 2016. David Howard Fagenson (CRD#: 1652012) is a previously registered broker and current investment advisor whose last employer was Newbridge Securities Corporation (CRD#:104065) of Boca Raton, FL. His previous employers include UBS Financial Services Inc. (CRD#:8174) of Palm Beach, FL, Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of West Palm Beach, FL, and Morgan Stanley DW Inc. (CRD#:7556) of Purchase, NY. No current employment information is available. He has been in the business since 1987. Continue reading ›

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According to FINRA Disciplinary actions for May 2019, 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:

NAME FORMER EMPLOYERS
  Bang, Gregory   NYLife Securities LLC
  Bishop, Tywan   Charles Schwab & Co, Inc
  ETrade
  Block, Gabriel   First Standard Financial Company LLC
  National Securities Corporation
  Duchan, Patricia   UBS Financial Services Inc
  Hovermale, Jeffrey   Sovereighn Legacy Securities, Inc
  Sigma Financial Corporation
  Kane, Jordan   Citizens Securities, Inc
  Martinez, Joseph   Pruco Securities, LLC
  The Prudential Insurance Company of America
  Norris, Timothy   BMO Harris Financial Advisors, Inc
  HarrisDirect LLC
  Weldon, Benjamin   State Farm VP Mgmt Corp
  Ben Weldon Insurance Agency

Silver Law Group represents investors in securities and investment fraud cases through FINRA arbitration or court.  Our lawyers are admitted to practice in New York and Florida and represent investors nationwide in securities arbitration to help recover investment losses due to stockbroker misconduct.  If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

 

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According to FINRA Disciplinary actions for May 2019, 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
  Bethan, Frank   Quest Capital Strategies, Inc
  Wells Fargo Clearing Services, LLC
  Cody, Jill   Concorde Investment Services, LLC
  Westminster Financial Securities, Inc
  Cody, Richard   IFS Securities
  Concorde Investment Services, LLC
  Genovese Michael   Laidlaw & Company (UK) LTD
  Rockwell Global Capital LLC
  Guderyon, John   WM Smith & Co
  Crest Capital LLC
  Laboranti, Jeffrey   Morgan Stanley
  Merrill Lynch, Pierce, Fenner & Smith Inc
  Martino, Andrew   Morgan Stanley
  Merrill Lynch, Pierce, Fenner & Smith Inc
  Simanski, Douglas   Next Financial Group, Inc
  Advantage Capital Corporation
  Valladolid, Guillermo   Morgan Stanley
  Merrill Lynch, Pierce, Fenner & Smith Inc
  Wadsworth, Jackie   IMS Securities, Inc
  Acumen Securities, LLC

Silver Law Group represents investors in securities and investment fraud cases through FINRA arbitration or court.  Our lawyers are admitted to practice in New York and Florida and represent investors nationwide in securities arbitration to help recover investment losses due to stockbroker misconduct.  If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Our lawyers have extensive experience collecting FINRA arbitration awards, prevailing on Motions to Vacate FINRA arbitration awards and using various collection efforts to enforce FINRA awards after they are received.

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According to FINRA Disciplinary actions for May 2019, 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
  Anderson, Andy   ProEquities, Inc.
  PFS Investments Inc,
  Bishop, Tywan   Charles Schwab & Co, Inc
  ETrade Securities LLC
  Conrekas, Edward   J.W. Cole Financial, Inc
  Morgan Stanley
  Donato, Scott   Morgan Stanley
  Flaningan, Joel   NYLife Securities LLC
  Synergy Investment Services LLC
  Johnson, Anthony
  Marnelego, Christopher   First Standard Financial Company LLC
  Merriman Capital, Inc
  Ness, Valerie
  Norris, Timothy   BMO Harris Financial Advisors, Inc
  HarrisDirect LLC
  Vrazel, Patsy
  Worthington, Bruce   Founders Financial Securities LLC
  Commonwealth Financial Network

FINRA makes this information available, in part, to inform investors about potential red flags or problems with certain stockbrokers.  If you invested with anyone in this report and have questions about your legal rights, our attorneys will talk with you at no cost to explain your legal rights and about how we can help recover your investment losses through securities arbitration or litigation.

Silver Law Group represents investors in securities and investment fraud cases through FINRA arbitration or court.  Our lawyers are admitted to practice in New York and Florida and represent investors nationwide in securities arbitration to help recover investment losses due to stockbroker misconduct.  If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

 

 

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Scott J. Donato (CRD#: 2336331) is a former registered broker and investment advisor who was last employed with Morgan Stanley (CRD#:149777) of Miami, FL, until 2017. He previously worked for two different Morgan Stanley companies, (CRD#: 8209 and 7556) since 1993. No current employment information is available. Scott Donato is the subject of 10 disclosures dating back to 2001. The most recent, on 12/11/2018, is a FINRA regulatory action in which he failed to respond to a request for information from FINRA. He was notified by letter of his suspension on 3/14/2019, and failed to request a termination of his suspension by the three month deadline. FINRA barred Donato indefinitely in all capacities effective 3/14/2019.Scott J. Donato (CRD#: 2336331) is a former registered broker and investment advisor who was last employed with Morgan Stanley (CRD#:149777) of Miami, FL, until 2017. He previously worked for two different Morgan Stanley companies, (CRD#: 8209 and 7556) since 1993. No current employment information is available.

Scott Donato is the subject of 10 disclosures dating back to 2001. The most recent, on 12/11/2018, is a FINRA regulatory action in which he failed to respond to a request for information from FINRA. He was notified by letter of his suspension on 3/14/2019, and failed to request a termination of his suspension by the three month deadline. FINRA barred Donato indefinitely in all capacities effective 3/14/2019. Continue reading ›

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Marcus E. Boggs (CRD#: 5055667) is a former registered broker and investment advisor whose last broker dealer employer was Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of Chicago, IL, from 2/7/2006 through 12/18/2018. No current or additional employment information is available.Marcus Boggs is the subject of five disclosures. Three customer disputes were filed on 11/21/2018, 12/16/2018 and 12/17/2018, all alleging unauthorized ACH transfers of funds into an American Express account, totaling $5,601,758.71.Marcus E. Boggs (CRD#: 5055667) is a former registered broker and investment advisor whose last broker dealer employer was Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691) of Chicago, IL, from 2/7/2006 through 12/18/2018. No current or additional employment information is available.

Marcus Boggs is the subject of five disclosures. Three customer disputes were filed on 11/21/2018, 12/16/2018 and 12/17/2018, all alleging unauthorized ACH transfers of funds into an American Express account, totaling $5,601,758.71. Continue reading ›

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