Securities Arbitration Lawyers Blog

Kingwood, Texas-based Broker D.H. Hill Under Investigation Over Regulatory Actions Concerning REITs

October 11, 2017 | Silver Law Group

Silver Law Group is investigating Kingwood, Texas-based brokerage firm D.H. Hill Securities, LLLP (CRD# 41528) (“D.H. Hill”) after FINRA sanctioned the firm for its conduct concerning the firm’s role as underwriter of a real estate investment trust (“REIT”).

D.H. Hill Securities Enters into a Settlement with FINRA

D.H. Hill entered into an Acceptance, Waiver & Consent (“AWC”), signed in November 2016, with FINRA. The AWC alleged that, between February 2012 through April 2013, D.H. Hill participated as a dealer manager of a REIT offering, replacing another firm in the process. When D.H. Hill replaced the previous brokerage firm, it failed to seek or obtain authorization from FINRA’s Corporate Financing Department to proceed with the offering, a requirement under FINRA Rule 5110.

Greensboro, North Carolina-based Ameritas Investment Corp. Broker Alonza Barnett Under Investigation After FINRA Bar

October 10, 2017 | Silver Law Group

Silver Law Group is investigating Greensboro, North Carolina-based Ameritas Investment Corp. (CRD# 14869) broker Alonza Barnett Jr (CRD# 4577695) after FINRA barred him and a customer brought a complaint alleging $1.75 million in damages.

Barnett’s CRD Report

According to Barnett’s FINRA BrokerCheck report, FINRA barred Barnett in March 2017 after he failed to respond to a FINRA request for information. According to FINRA, Barnett failed to request termination of his suspension within three (3) months of the date of the Notice of Suspension.

Former South Florida-based Raymond James Broker Leon P. Rehak Under Investigation

October 10, 2017 | Silver Law Group

Silver Law Group is investigating former South Florida-based Raymond James & Associates, Inc. (CRD# 705) broker Leon P. Rehak (CRD# 2331058) after a customer brought a FINRA arbitration complaint alleging over half a million dollars in damages.

According to Rehak’s FINRA BrokerCheck report, a customer of Rehak filed a FINRA arbitration against him in November 2016 – a few weeks after he left Raymond James.

According to Rehak’s BrokerCheck report, Rehak, who is currently employed by LPL Financial LLC (CRD# 6413) at its Pompano Beach, Florida location, allegedly committed numerous types of securities misconduct between 2004 and 2011 in a customer’s accounts.

Former New York-based Joseph Stone Capital Broker Under Investigation After Montana Sanctions Over Excessive and Unauthorized Trading

October 10, 2017 | Silver Law Group

Silver Law Group is investigating former New York-based Joseph Stone Capital L.L.C. (CRD# 159744) broker David G. Menashe (CRD# 5727269) after the State of Montana sanctioned him for excessive and unauthorized trading.

Menashe’s CRD Report and the Montana Regulatory Decision

According to Menashe’s FINRA BrokerCheck report, the Office of the Commissioner of Securities and Insurance for Montana sanctioned both Joseph Stone and Menashe. According to the Montana Order, Montana required Joseph Stone to pay $30,000 in restitution with Menashe contributing half of that amount.

Binary Options- CFTC’s RED List

October 10, 2017 | Silver Law Group

Binaryoptionfraudattorneys.com

CFTC’s RED List

Binary Options fraud is on the rise in recent years as regulators and government agencies continue to receive hundreds of complaints with damages totaling in the millions of dollars in the United States alone. The U.S. Commodity Futures Trading Commission (“CFTC”) has issued a Fraud Advisory concerning Binary Options due to the increased number of victims of these schemes. The CFTC, as part of its efforts to reduce this fraudulent activity, maintains a list of foreign entities that illegally solicit U.S. residents to trade binary options and forex without being registered with the CFTC as required by securities laws. This allows investors to protect themselves against this type of illegal activity.

Binary Options- CFTC Fraud Advisory

October 10, 2017 | Silver Law Group

Binaryoptionlosses.com

Binary Options Fraud

Binary Options fraud is on the rise in recent years as regulators and government agencies continue to receive hundreds of complaints with losses totaling in the millions of dollars in the United States alone. The U.S. Commodity Futures Trading Commission (“CFTC”) has issued a Fraud Advisory concerning Binary Options due to the increased number of victims of these schemes. The CFTC is hoping to educate investors in order to prevent them from falling victim to these schemes.

Binary Options- SEC Investor Alert

October 10, 2017 | Silver Law Group

Binaryoptionlossattorneys.com

Binary Options Fraud

Binary Options fraud is on the rise in recent years as regulators and government agencies continue to receive hundreds of complaints with losses totaling in the millions of dollars in the United States alone. The Federal Bureau of Investigation (“FBI”) issued a news release and the staggering damages associated with this type of fraud just keep increasing. The U.S. Securities and Exchange Commission (“SEC”) has also issued an Investor Alert concerning Binary Options and Fraud due to the increased number of victims of these schemes. Along with the FBI, the SEC is hoping to educate investors in order to prevent them from falling victim to these schemes.

RBC Capital Broker Samuel Koltun has been Involved in Several Customer Disputes

October 9, 2017 | Silver Law Group

Koltun has been reportedly over-concentrating accounts on Puerto Rico bonds

Samuel Kluft Koltun has received a number of Financial Industry Regulatory Authority (FINRA) disclosures lately. From October 2015 to September of 2016, the broker received four customer complaints, and they all had one thing in common: Puerto Rico.

Currently registered with RBC Capital Markets, LLC out of West Palm Beach, Florida, the only other firm Koltun has worked for in his 30-year career is J.B. Hanauer & Co., also located in West Palm Beach.

Shawn E. Burns, Salomon Financial

October 9, 2017 | Silver Law Group

Shawn E. Burns

CRD# 3138114

Silver Law Group is currently investigating former New York-based Salomon Whitney Financial broker Shawn E. Burns for three pending FINRA arbitrations.

Scott Silver Featured in Investment News Regarding Stockbrokers’ Fiduciary Duty

October 6, 2017 | Silver Law Group

What is the duty of a fiduciary? A recent case involving a broker-dealer firm in Puerto Rico is raising the issue

According to the Uniform Securities Act of Puerto Rico, broker-dealers and investment advisors in the commonwealth “must observe the highest standards of fiduciary duty toward their customers and clients.” But not all firms seem to adhere to this rule. Case in point is, potentially, Oriental Financial Services.

Based in San Juan, Oriental Financial recently sent a letter to one of its customers regarding an arbitration claim filed earlier this year with the Financial Industry Regulatory Authority (FINRA). Essentially a break-up letter from president Sean Miles, it informed the client that Oriental and “its agents, employees, parent and affiliates withdraw and disclaim any and all investment advice with regard to your accounts, including but not limited to the Puerto Rico securities.”