Securities Arbitration Lawyers BlogFINRA’s March 2019 Disciplinary Actions Name Individuals Barred for Failing to Comply with FINRA Rules
According to FINRA Disciplinary actions for March 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 |
| Alfaro, Jennifer | JP Morgan Securities |
| Austin, Aaron | LPL Financial LLC |
| M & T Securities, Inc | |
| Conner, Youn | |
| Das, Anukul | NYLife Securities |
| Nayeli, Rosalba | JP Morgan Securities LLC |
| Wells Fargo | |
| Ferraro, Andrew | State Farm VP Mgmt Group |
| Chris Ferraro Insurance Agency | |
| Fidelman, Peter | Bradley Woods & Co |
| Griffen Securities Inc | |
| Gaston, Frantz | State Farm VP Mgmt |
| Frantz Gaston Jr. Insurance Agency | |
| Guillory, Michael | Financial West Group |
| The Shemano Group, Inc | |
| Hamm, Brandon | Wells Fargo Clearing Services |
| Hartigan, John | Entrustpermal Securities LLC |
| Calyon Financial Inc | |
| Jones, Marques | Merrill Lynch, Pierce, Fenner & Smith Inc |
| Bank of America | |
| Merlo, Robert | Allstate Financial Services |
| Pruco Securities | |
| Norris, Timothy | BMO Harris Financial Advisors |
| HarrisDirect LLC | |
| Olsen, Eric | NYLIfe Securities LLC |
| Wellsfargo | |
| Perez, Paul | Investcorp, Inc |
| Fintegra LLC | |
| Sullivan, Daniel Erich | Wunderlich Securities |
| Chapdelaine & Co | |
| Uribe, Juan | Wells Fargo Clearing Services |
| JP Morgan Securities LLC | |
| Wilson, Vance | Wells Fargo Clearing Serices |
| Fidelity Brokerage Services | |
| Witt, Robert | Voya Financial Adisors |
| ING Financial Partners |
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.
The Financial Industry Regulatory Authority Inc. fined H. Beck $400,000 on November 20, 2018 for failing to maintain and enforce its own written supervisory procedures. Failing to maintain their procedures has resulted in the unsuitable sale of L-share variable annuities tied to long-term riders.
On May 1, 2018, FINRA Department of Enforcement entered into a settlement via Acceptance, Waiver, and Consent (AWC) with Respondent Laidlaw & Company. Without admitting or denying any wrongful acts, Laidlaw consented to a public censure by FINRA, the imposition of a $25,000 fine, as well as agreeing to give FINRA a written statement saying that systems mentioned in the AWC are designed to achieve compliance with “applicable securities laws, regulations, and rules.
A misunderstanding with FINRA’s rule caused LPL to ignore dozens of customer complaints. The firm incorrectly failed to file and/or update registered representatives U4 or U5 forms to disclose dozens of reportable customer complaints that should have been filed. These claims requested compensatory damages of $5,000 or more. A representative for FINRA stated, “LPL incorrectly construed this phrase to mean that the firm was not required to report any complaint that did not expressly request compensation, even when the customer alleged a sales practice violation that caused a loss of $5,000 or more, and the complaint, when viewed as a whole, made clear that the customer was seeking compensation.” LPL has been the subject of multiple customer complaints frequently filed as securities arbitration claims, claiming significant damages.
White was discharged from the Raymond James Financial Services on 4/3/2017 after it was discovered he had accepted cash gifts from a customer, and failed to disclose the gift to the firm. The firm’s policies prohibited registered representatives from accepting gifts over $100 per year from the firm’s customers. White accepted a total of $58,000 from a single firm customer, after certifying that he understood the policies on annual compliance questionnaires.
BrokerCheck now reports that Sandlapper Wealth Management, LLC has discharged him from their employment as of 8/31/2018 after he was barred by FINRA.
Yassin is the subject of two FINRA disciplinary actions. The first, filed on 10/29/2018, suspends Yassin indefinitely for failure to comply with