Securities Arbitration Lawyers Blog
In July 2018 FINRA Bars Registered Individuals for Violations of FINRA Rules
According to FINRA Disciplinary actions for July 2018, 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 |
| Fernando Enrique Acosta | |
| Paul Anthony Bustamante | Empire Asset Management Company |
| Bishop, Rosen & Co, Inc | |
| Janna L. Carruth-Vogler | |
| Xavier Dwight Clinton | J.P. Morgan Securities LLC |
| Massachusetts Mutual Life Ins Co | |
| Thomas Matthew Dunlap | AXA Advisors LLC |
| Saima Ashraf Durrani | J.P. Morgan Securities LLC |
| Chase Investment Services Corp | |
| Joshua David Ellis | LPL Financial LLC |
| BCG Securities, Inc | |
| James Benjamin Farris | Merrill Lynch, Pierce, Fenner & Smith Inc |
| UBS Financial Services Inc | |
| Samuel LaWayne Haddix | Ameriprise Financial Services, Inc |
| IDS Life Insurance Company | |
| Mark Anthony Hernandez | UBS Financial Services Inc |
| Morgan Stanley | |
| Christopher Lee Hibbard | Merrill Lynch, Pierce, Fenner & Smith Inc |
| Abed William Lulu | Worden Capital Management LLC |
| Rockwell Global Capital LLC | |
| Michael Ray Matos | J.P. Morgan Securities LLC |
| Michael Patrick Nanto | J.P. Morgan Securities LLC |
| Mutual of Omaha Investor Services, Inc. | |
| Albert John Papada | Horace Mann Investors, Inc |
| Zachary T. Rawson | Merrill Lynch, Pierce, Fenner & Smith Inc |
| Bank of America, NA | |
| Anteneh A. Roberts | Merrill Lynch, Pierce, Fenner & Smith Inc |
| PNC Investments | |
| Jeanette Maria Sanchez |
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.
Fitz-Gerald is the subject of six disputes, dating back to 1987. The latest, filed on 6/6/2018, is pending, and requesting damages totaling $240,000 and allege, “inter alia, unsuitability with respect to investments in accounts -2014 to 2015.” 
According to some reports, nearly 1/3 of National Securities brokers have had regulatory issues, legal disputes, or personal financial problems that have been disclosed to investors
Even when Liberty’s internal processes should have triggered a review, Fanning did not adequately address the trading issues. Fanning was, for a time, a 50% owner in Liberty, as well as Liberty’s CEO, CFO and FINOP. Fanning failed to establish and maintain written supervisory procedures (WSP) for the company to ensure that any excessive trading was reviewed, what the red flags were, and when to notify the customer of the potential for excess trading in their account.
FINRA recently suspended Parker for one month, and fined him $7,500 related to his activities with a client’s accounts. Parker made a number of recommendations to a client that she immediately begin investing in “alternative investments.” This client had very little prior investing experience, particularly with alternative investments. She was 64 at the time the account was opened. He recommended that she invest $290,000 into four of these illiquid 
Rosalia’s FINRA record contains 16 disclosures. The most recent was a customer dispute involving a client and the client’s children, with allegations of 
Sullivan has 8 disclosures in his career, the first of which is a customer dispute filed on 5/7/2018. The client alleges Sullivan engaged in unsuitable transactions, 
McBride has been the subject of five customer disputes in his career. The most recent was filed on 5/1/2018, by a client alleging “unsuitability, breach of fiduciary duty, negligence, failure to supervise, misrepresentation, omission, and breach of contract in the purchase of 2 non traded REITs and a limited partnership between February 2006 and August 2008.” The client is requesting damages in the amount of $251,317.00. Presidential denies the claims, and McBride isn’t actually a named party in the complaint. The firm is defending itself against the claims.