FINRA Disciplinary Actions

FINRA Bars Registered Individuals in May 2017 for Failing to Comply with FINRA Rules

June 19, 2017 | Silver Law Group

According to FINRA Disciplinary actions for May 2017, 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
Philip Bagalanon
Terry Dean Bahgat	Gradient Securities, LLC
Terry Dean Bahgat	Cambridge Investment Research, Inc.
Patrick Hugh Dowd	Pruco Securities, LLC
John Scott Elliott	Ameriprise Financial Services, Inc.
Joseph Adam Giardina	Allstate Financial Services, LLC
Ryley Grosso	Infinex Investments, Inc.
Ryley Grosso	PFS Investments Inc.
Larry Anthony Ham	J.P. Morgan Securities LLC
Larry Anthony Ham	Chase Investment Services corp.
Lystra C. Moore-Besson	HSBC Securities (USA) Inc.
Lystra C. Moore-Besson	HSBC Brokerage (USA) Inc.
Ryan Edward O’Neal Jr.
Karrie Renee Parrett	Independent Financial Group LLC
Karrie Renee Parrett	Invest Financial Corporation
Brian Thomas Perry	Ameriprise Financial Services, Inc.
Brian Thomas Perry	IDS Life Insurance Company
Meaghan Mary Rumsey	IFS Securities
Meaghan Mary Rumsey	Cadaret, Grant & Co., Inc.
Joshua James Shelby	J.P. Morgan Securities LLC
Joshua James Shelby	Chase Investment Services Corp.
Donald Lee Watson Jr.	The Jeffrey Matthews Financial Group, LLC
Donald Lee Watson Jr.	Stifel, Nicolaus & Company, Inc.
Mark Nicholas Wesley	Ameriprise Financial Services, Inc.
Mark Nicholas Wesley	IDS Life Insurance Company
Terrance Jerome Wilkerson	First Financial Equity Corporation
Terrance Jerome Wilkerson	Merrill Lynch, Pierce, Fenner & Smith Inc
Gregory Allen Zale	LPL Financial LLC
Gregory Allen Zale	Royal Alliance Associates, Inc.

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.

In May 2017 FINRA Suspends Registered Individuals for Failing to Comply with FINRA Rules

June 19, 2017 | Silver Law Group

According to FINRA Disciplinary actions, 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
Fred Ronald Brown	UBS Financial Services Inc.
	Morgan Stanley & Co. Inc.
Robert Joseph Burke III	Suntrust Investment Services, Inc.
	UBS Financial Services INc.
Joseph Christopher Delaura	Citigroup Global Markets Inc.
	Morgan Stanley DW Inc.
Michael Dennis Hampton	LPL Financial LLC
	Ameriprise Financial Services, Inc.
Raul Enrique Jacobs	Waddell & Reed
	T2 Asset Management, LLC
David Ladin	CUNA Brokerage Services, Inc.
	Allstate Financial Services, LLC
Gregory Marcel Martino	Blackbook Capital LLC
	Coastal Equities, Inc.
J-Thaddeus Peter McGaffey	Waddell & Reed
	Ameriprise Financial Services, Inc.
Richard James Murphy	Tullett Prebon Financial Services LLC
	Citation Financial Group, LP
Joseph Dominick Quinzi	First Standard Financial Company LLC
	Alexander Capital, LP
Englebert Sarmiento	Network 1 Financial Securities Inc.
	EJ Sterling, LLC
Laurence Michael Torres	First Standard Financial Company LLC
	Alexander Capital, LP
Larry Michael Underwood Jr.	Wells Fargo Advisors, LLC
	A.G. Edwards & Sons, Inc.
Troy William West	Innovation Partners LLC
	Regulus Advisors, 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.

FINRA Suspends Registered Individuals in May 2017 for Violations of FINRA Rules

June 19, 2017 | Silver Law Group

According to FINRA Disciplinary actions for May 2017, 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
Dimitris Alifragis
Ricardo Alonzo Jr.
David William Beutler	Wells Fargo Advisors, LLC
David William Beutler	Prudential Securities Incorporated
J. Gordon Cloutier Jr.	Wells Fargo Advisors, LLC
J. Gordon Cloutier Jr.	Merrill Lynch, Pierce, Fenner & Smith Inc.
Donald Joseph Coleman	Citigroup Global Markets Inc.
Charles Maxwell Cox	Wells Fargo Advisors, LLC
Charles Maxwell Cox	Chases Investment Services Corp.
Laura Johnson Craven	State Farm VP Management Corp.
Thomas A. Davis	Wells Fargo Advisors, LLC
Megan Eilers	Wells Fargo Advisors, LLC
Megan Eilers	First Clearing, LLC
Ayrton Pierce Haddad	TD Ameritrade, Inc.
Ayrton Pierce Haddad	E*Trade Securities LLC
Scott William Hartman	Morgan Stanley
Scott William Hartman	Sanford C. Bernstein & Co., LLC
Stephen Johnathan Hoshimi	Crescent Securities Group, Inc.
Stephen Johnathan Hoshimi	Capwest Securities, Inc.
Israel Jurkevicz	J.P. Morgan Securities LLC
Shawn Brett Larkin	Fidelity Brokerage Services LLC
Richard Muzquiz Jr.	J.P. Morgan Securities LLC
Richard Muzquiz Jr.	Chase Investment Services Corp.
Sharon Theresa Noonan	Allstate Financial Services LLC
Sharon Theresa Noonan	Prudential Securities Incorporated
Olateju Samson Oyeniyi
Michael Jason Ripper	International Assets Advisory, LLC
Michael Jason Ripper	LPL Financial LLC
Christopher Peter Rose	State Farm VP Management Corp.
Teresita Santos Santos	Tramsamerica Financial Advisors, Inc.
Teresita Santos Santos	World Group Securities, Inc.
Bimal Kishore Shah	Independent Financial Group, LLC
Bimal Kishore Shah	WRP Investments Inc.
Bryan Michael Snyder	J.P. Morgan Securities LLC
Bryan Michael Snyder	Northwestern Mutual Investment Services, LLC
Cory Ward Taylor	Ameriprise Financial Services, Inc.
Cory Ward Taylor	IDS Life Insurance Company
Xin Wang	JP Morgan Securities LLC
Matthew Edward Witkowski	Vanguard Marketing Corporation
Matthew Edward Witkowski	Edward Jones

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.

Jeffrey Marc Grayson Suspended After Allegations of Discretionary Trading

June 9, 2017 | Silver Law Group

The New Jersey broker is also reported to have lied about his actions

Jeffrey Marc Grayson was recently suspended by the Financial Industry Regulatory Authority (FINRA) after an investigation found that he exercised discretion in four customer accounts without written approval from the customers. In addition, Grayson reportedly did not get permission from his member firm and he is alleged to have lied about his use of discretion on compliance documents.

Grayson didn’t admit or deny the finding, but he accepted FINRA’s two-month suspension, along with a $10,000 fine.

West Palm Beach, Florida Broker William T. Eaton Under Investigation After FINRA Suspends Him

June 6, 2017 | Silver Law Group

Silver Law Group is investigating former Florida-based LPL Financial LLC (CRD# 6413) and Wells Fargo Advisors, LLC (CRD# 19616) (Also known as Wells Fargo Clearing Services) broker William T. Eaton (CRD# 3058469) after FINRA suspended him.

According to Eaton’s FINRA BrokerCheck report, FINRA suspended Eaton from acting as a broker in September 2016. Eaton allegedly failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.

LPL Financial employed Eaton from August 2015 to November 2016 at its West Palm Beach, Florida location. Wells Fargo Advisors employed Eaton from April 2013 to August 2015 at its Wellington, Florida location. Prior to Wells Fargo and LPL Financial, Suntrust Investment Services, Inc. (CRD# 17499) employed Eaton from July 2011 to April 2013 at its Delray Beach, Florida branch.

FINRA Fines Cetera Almost $2 Million for Mutual Fund Sales Charge Violations

June 6, 2017 | Silver Law Group

FINRA entered into a settlement with Cetera Advisor Networks LLC (CRD# 13572) over improprieties related to mutual sales fund charge waivers.

According to the Acceptance, Waiver and Consent (“AWC’) entered into between Cetera and FINRA, Cetera disadvantaged certain retirement plan and charitable organization customers that were eligible to purchase certain shares in mutual funds without a front-end sales charge. Instead, Cetera sold these customers shares with front-end or back-end sales charges and higher ongoing fees and expenses.

Cetera did not waive the additional mutual fund sales charge even though customers qualified for it and, according to the AWC, Cetera carried on this conduct between July 2009 and January 2017.

Former Connecticut Broker Warren M. Rockmacher Under Investigation for Unsuitable Recommendations at Investacorp

May 25, 2017 | Silver Law Group

Silver Law Group is investigating former Connecticut-based Investacorp, Inc. (CRD# 7684) broker Warren M. Rockmacher (CRD# 2005652) after FINRA suspended and then permanently barred the broker.

Rockmacher currently has a FINRA arbitration pending that alleges unsuitable recommendations and misrepresentation with damages in the amount of $75,000.

On May 12, 2016, FINRA suspended Rockmacher for failing to comply with an arbitration award or settlement agreement or failed to respond to a FINRA request to provide information on the status of compliance. Two weeks later, FINRA barred Rockmacher completely from the securities industry.

Silver Law Group Investigates FINRA-barred Florida Broker Who Allegedly Sold Away Customers

May 25, 2017 | Silver Law Group

Silver Law Group is investigation former Florida-based Fidelity Brokerage Services LLC (CRD# 7784) broker Michael J. DeBoer (CRD# 2114067) for allegedly conducting outside business activities without notifying Fidelity and losing his customers a great deal of money in the process.

According to DeBoer’s FINRA BrokerCheck, FINRA permanently barred DeBoer in May 2016 for allegedly recommending two customers collectively invest $200,000 in securities offered by a software development company. In exchange for the referrals, the company allegedly gave DeBoer $32,000 in compensation, while the customers ultimately lost all of their investments.

Additionally, the Acceptance, Waiver & Consent (“AWC”), found that DeBoer marketed to his customers and other potential investors the services of an entity that provided separately-managed futures trading accounts. The AWC states that DeBoer referred approximately 28 people to the entity and received $70,000 in return for his referrals. Most of the referred individuals lost a substantial amount of the money invested.

Silver Law Group Investigates Former Illinois Morgan Stanley Broker Terminated for Outside Business Activities

May 25, 2017 | Silver Law Group

Silver Law Group is investigating former Deerfield, Illinois-based Morgan Stanley Smith Barney broker Brian C. Sak (CRD# 3259830) after he was terminated for allegations that he placed customers in unapproved investments.

According to Sak’s FINRA BrokerCheck Report, he was terminated on May 17, 2016 by Morgan Stanley (CRD# 149777) due to concerns related to outside real estate investments with a client that was not appropriately disclosed to Morgan Stanley.

Additionally, Sak’s has two other disclosures in the form of FINRA arbitrations. The FINRA arbitrations, like Morgan Stanley, allege that Sak recommended investing in outside real estate investment opportunities. In total, the two FINRA arbitrations allege $600,000 in damages.

FINRA Bars Former Kovack Broker For Allegedly Naming Himself as Inheritor of 91-year-old Customer’s Condo

May 25, 2017 | Silver Law Group

FINRA has barred Fort Lauderdale, Florida-based broker Douglas W. Studer (CRD# 4440047) for refusing to testify on the record in a FINRA-led investigation into whether Studer violated his employing firm’s policy by being named in an elderly customer’s estate documents to inherit the customer’s waterfront condominium.

Studer was employed by Kovack Securities Inc. (CRD# 44848) until Kovack terminated him in July 2016, according to the Acceptance, Waiver and Consent (“AWC”) entered into between Studer and FINRA.

According to the AWC, FINRA began investigating Studer on August 2, 2016. Studer was asked to record testimony, but he refused to appear. Allegedly, Studer appeared on his 91-year-old customer’s estate documents and was to inherit the elderly customer’s waterfront condominium.