Stockbroker Misconduct

Martin Knapp, Formerly a Broker with Syndicated Capital, Barred from Industry by FINRA

September 9, 2015 | Silver Law Group

A former broker with Syndicated Capital in Great Neck, New York, Martin Knapp, was permanently barred by FINRA. This action occurred because Knapp failed to respond to a FINRA request for information in which he was suspended in April 2015. Because Knapp did not request termination of his suspension within three months, he was automatically barred from association with any FINRA member in any capacity.

Knapp was with Syndicated Capital from March, 2010 when he entered the securities industry.

Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide 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.

Spartan Securities Broker Scott Reynolds Fined by FINRA

September 8, 2015 | Silver Law Group

Miami, Florida based broker Scott Reynolds was fined by FINRA for allegedly failing to report an outside brokerage account to his member firm, Spartan Securities, violating FINRA rules. Reynolds was censured fined $10,000 for this violation.

Reynolds has been employed by Spartan Securities since 2005. Prior to working at Spartan, he was with Empire Financial Group, Park Financial Group and Advantage Trading Group.

Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide 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.

Cetera Broker Alex P. Anderson Permanently Barred by FINRA

August 28, 2015 | Silver Law Group

Ohio broker Alex P. Anderson (CRD# 4243107) was permanently barred by FINRA in April 2015, for converting customer funds for his own use and benefit, in violation of FINRA Rules 2510 and 2010. According to the Letter of Acceptance Waiver and Consent, Anderson was appointed Power of Attorney over a 94 year-old customer of his, which gave Anderson broad authority over the customer’s financial affairs. Between May 21, 2014 and November 14, 2014, Anderson issued nine checks totaling $75,500 from the client’s bank account and deposited them into a bank account under Anderson’s control, for his own use and benefit. Due to these acts, Anderson violated FINRA Rules 2150(a) and 2010 and was permanently barred from the association with any FINRA member in any capacity. Anderson was registered with FINRA member firm Cetera Financial Specialists LLC from June 2004 through December 2014, and Hochman and Baker Securities Inc. of Stamford CT, from January 2002 through August 2004.

Many brokerage firms prohibit financial advisors from serving as trustees of clients’ trust accounts or executors of clients’ trust and estate plans. Financial advisors are generally prohibited from serving as power of attorney for elderly clients or managing money separate from investors’ accounts.

If you invested money with Alex P. Anderson or his firms and suffered losses, you may be entitled to recover some or all of those investment losses. Please call our securities law firm toll free at (800) 975-4345 to speak with an experienced attorney and to find out how we may be able to help you regain some or all of your losses. Most cases are handled on a contingent fee basis, meaning that you do not pay legal fees unless we are successful in your lawsuit.

New York Trident Partners Broker and CCO William Michael Quigley Permanently Barred by FINRA

August 26, 2015 | Silver Law Group

New York broker and Chief Compliance Officer of Trident Partners Ltd., William Michael Quigley (CRD# 1968265), was permanently barred by FINRA commencing on June 23, 2015, for failing to respond to a FINRA request for information, pursuant to FINRA Rule 9552(d). Quigley is barred from association with any FINRA member in any capacity. Quigley failed to request termination of his suspension within 3 months of the date of his Notice of Suspension, and therefore, was automatically barred by FINRA (FINRA Rule 9552(h)).

Additionally, on May 28, 2015, the Securities & Exchange Commission filed an indictment against Quigley alleging that he and his 2 brothers, Michael and Brian Quigley, participated in a fraudulent offering scheme from at least 2003 to 2012, while he was Chief Compliance Officer at Trident Partners Ltd., a brokerage firm in Woodbury, New York. The SEC alleges misappropriation of funds by the 3 brothers, as well as conspiracy to commit wire fraud and money laundering conspiracy in connection with a fraudulent investment scheme. “Quigley and his co-conspirators allegedly engaged in a coordinated and sophisticated scheme built on lies and deceit to defraud overseas investors,” stated Acting United States Attorney Kelly Currie, for the Eastern District of New York.

William Michael Quigley was registered with Trident Partners Ltd. from October 2007 through September 2014, and was employed by Joseph Stevens and Co. from October 2005 through September 2007.

Florida Broker Errol Constantine Hyde Permanently Barred by FINRA

August 25, 2015 | Silver Law Group

Broker Errol Constantine Hyde (CRD# 1812079) was permanently barred by FINRA commencing on June 23, 2015, for failing to respond to a FINRA request for information, pursuant to FINRA Rule 9552. Hyde is barred from association with any FINRA member in any capacity. Hyde failed to request termination of his suspension within 3 months of the date of his Notice of Suspension, and therefore, was automatically barred by FINRA (FINRA Rule 9552(h)).

Hyde first became a registered securities broker in 1991 and worked for Travelers Equities Sales, Inc. (El Segundo, CA) and Advantage Capital Corp (Atlanta, GA and Miami, FL). Most recently, Hyde was employed by H.D. Vest Investment Services of Port Saint Lucie and Miami Florida, from 2004 through 2014.

If you invested money with Errol Constantine Hyde or his firms and suffered losses, you may be entitled to recover some or all of those investment losses. Please call our securities law firm toll free at (800) 975-4345 to speak with an experienced attorney and to find out how we may be able to help you regain some, or all, of your losses. Most cases are handled on a contingent fee basis, meaning that you do not pay legal fees unless we are successful in your lawsuit.

Silver Law Group Investigates FINRA-Barred Broker Thomas Buck

July 30, 2015 | Silver Law Group

Silver Law Group is investigating Indiana-based stockbroker Thomas Buck, who earlier this week was barred by the Financial Industry Regulatory Authority (FINRA) from associating with any FINRA member firm and was accused by FINRA of improperly charging customers and engaging in unauthorized trading. Mr. Buck, a former top broker for Bank of America Merrill Lynch from 1981 until early-2015, was most recently employed by RBC Wealth Management.

According to FINRA, Buck oversaw $1.3 billion in assets while at Merrill Lynch, which made him Merrill’s top broker in Indiana. Buck is alleged to have almost exclusively steered his clients into using commission-based accounts since at least 2009 despite the fact that it would have been less expensive for the clients to remain in fee-based accounts. In addition, Buck is believed to have placed trades on behalf of clients without obtaining proper authorizations, something that is prohibited under FINRA standards.

“He at times unilaterally placed trades in customer accounts without getting the customers’ acquiescence in advance, or even after placing the trade,” FINRA wrote. “In other instances, customers explicitly or implicitly allowed him to place trades in their account without prior discussion. Buck did not obtain written authorization to do so from either the customers or Merrill Lynch.”

FINRA Suspends Registered Individuals for Violations of FINRA Rules in June 2015

July 13, 2015 | Silver Law Group

According to FINRA Disciplinary actions for June 2015, 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
Frank Carmen Aquila	Legend Equities Corporation
Frank Carmen Aquila	Legend Capital Corporation
Modesto Biney	Wells Fargo Advisors, LLC
Thomas Howard Caniford	LPL Financial LLC
Thomas Howard Caniford	M Holdings Securities, Inc.
Andrew M. Carter	LPL Financial LLC
Andrew M. Carter	NYLIfe Securities LLC
Fernando Diaz	JP Morgan Securities LLC
Fernando Diaz	Chase Investment Services Corp
Jordan Hart
Steven J. Hiles	NYLife Securities LLC
Erroll Constantine Hyde	H.D. Vest Investment Services
Erroll Constantine Hyde	Advantage Capital Corporation
Dolores Marie Jones
Ariana Grace Kaiser	ING Financial Partners, Inc.
Anthony Uzoma Ogbonna	JP Morgan Securities LLC
Anthony Uzoma Ogbonna	Chase Investment Services Corp
Bernard Popilevsky	JP Morgan Securities LLC
Bernard Popilevsky	Chase Investment Services Corp
Christina Powers
William Michael Quigley	Trident Partners Ltd
William Michael Quigley	Joseph Stevens & Company, Inc.
Michael Joseph Quinn	Independent Financial Group, LLC
Michael Joseph Quinn	LPL Financial LLC
Robert John Sprott	Securities Service Network, Inc.
Robert John Sprott	Walnut Street Securities, Inc.
Daniel Kunihiko Tamaki	NYLife Securities LLC
Mary V. Tropeano

Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide 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 Terminates Brokers’ Licenses in June 2015

July 13, 2015 | Silver Law Group

According to FINRA Disciplinary actions for June 2015, 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
Jason Wade Cox	Edward Jones
Dillon M. Edwards	Princor Financial Services Corporation
Gino Arturo Fortis	H.D. Vest Investment Services
Gino Arturo Fortis	Foresters Equity Services, Inc.
Herbert Andrew Hood Jr.	Valic Financial Advisors, Inc.
Herbert Andrew Hood Jr.	Merrill Lynch, Pierce, Fenner & Smith Inc.
Rodney Bryan Howell	Transamerica Financial Advisors, Inc.
Melissa Diana Powell
Tina Lynn Reed	Merrill Lynch, Pierce, Fenner & Smith Inc.
Tina Lynn Reed	Wachovia Securities, LLC
Lynn Marie Schmidt	Meritus Financial Group, Inc.
Lynn Marie Schmidt	Rise, Inc.
Mark I. Stark	LPL Financial LLC
Mark I. Stark	Five Star Investment Services, Inc.
Peter Yao	Morgan Stanley
Peter Yao	Merrill Lynch, Pierce, Fenner & Smith Inc.

Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide 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 Bars Wesley C. Smith

July 13, 2015 | Silver Law Group

Earlier this year, the Financial Industry Regulatory Authority (FINRA) barred Wesley Smith from working for any FINRA member. The broker had been previously registered with Edward Jones from January of 2008 to September of 2014. According to the CRD, Mr. Smith had not passed any principal/supervisory exams, but had passed one general industry/product exam and one state securities law exam. Mr. Smith has five customer disputes that have been resolved, and one pending.

Following FINRA Notice of Suspension and Suspension from Association letters dated November 4, 2014 and December 1, 2014, FINRA, pursuant to Rule 9552(H), barred Mr. Smith from any association with any FINRA member in any capacity. Specifically, the bar resulted due to Mr. Smith’s failure to request termination of his suspension within three months of the date of the Notice of Suspension. While notice of it occurred on November 4^th, Mr. Smith’s actual suspension began on November 28, 2014. A failure to make a request to end a suspension results in an automatic expulsion or bar from association with FINRA. The sanction was officially ordered on February 9, 2015.

Operated by FINRA, the CRD is the central licensing and registration system for the U.S. securities industry and its regulators. It contains the registration records of over 6,500 registered broker-dealers. Additionally, the CRD contains the qualification, employment and disclosure histories of more than 650,000 active registered individuals. Access to the Web CRD is for entitled members only. In order to gain access, firms must go through the entitlement process administered by FINRA.

FINRA Creates Interactive Game Intended to Help Investors Combat Fraud

July 7, 2015 | Silver Law Group

According to the Financial Fraud Research Center, Americans lose $50 billion each year to fraud. Further, research funded by the Financial Industry Regulatory Authority Education Foundation (Foundation) discovered that roughly 80 percent of consumers over the age of 40 said they had been solicited for a potentially fraudulent scheme. In order to combat this, the Foundation has developed an interactive game designed to educate investors on how to spot the tactics used by individuals who commit fraud.

“Con ‘Em If You Can”

The game, called “Con ‘Em If You Can,” was developed by the Foundation and the D2D Fund. It is intended to provide an entertaining way for investors to learn about fraudulent tactics. Fraud criminals use persuasion to take advantage of investors. Often, these individuals ask investors about such items as their health, family, and hobbies and use that information to complete their fraudulent acts. Fraudulent schemes may include promising a quick path to wealth or leading investors to believe that there is a limited supply for something.