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According to FINRA Disciplinary actions for December 2022, 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
  Jay Dougall   Principal Securities, Inc.
  Waddell & Reed
  Beth Landwehr   J.P. Morgan Securities LLC
  Ameriprise Financial Services, Inc.
  Jamie Lemon
  Linda Leong   Valic Financial Advisors, Inc.
  National Planning Corporation
  Michael Richie   Fidelity Brokerage Services LLC
  Edward Von Der Schmidt   Morgan Stanley & Co. LLC
  RBC Capital Markets, LLC
  Cedric Wade   LPL Financial LLC
  National Planning Corporation

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According to FINRA Disciplinary actions for December 2022, 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. However, these individuals remain bound by the securities arbitration agreement to arbitrate any disputes between themselves and their former customers:

NAME FORMER EMPLOYERS
  Albert Aviles   Reid & Rudiger LLC
  Spartan Capital Securities, LLC
  Ruth Chambers   Raymond James & Associates, Inc.
  Mutual Trust Co. of America Securities
  Seymour Cohen   Wilmington Capital Securities, LLC
  Clark Dodge & Co., Inc.
  Anthony DiLullo   LPL Financial LLC
  ING Financial Partners, Inc.
  John Fabiano   LPL Financial LLC
  JD Financial Services Inc.
  Samuel Heavrin   J.P. Morgan Securities LLC
  Austin Lazarus   Merrill Lynch, Pierce, Fenner & Smith Incorporated
  J.P. Morgan Secvurities LLC
  Jason Long   State Farm VP Management Corp.
  Pamelia Owensby   UBS Financial Services Inc.
  Merrill Lynch, Pierce, Fenner & Smith Incorporated
  Alexandra Smith   J.P. Morgan Securities LLC
  Merrill Lynch, Pierce, Fenner & Smith Incorporated

Continue reading ›

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scott-silverIt’s not uncommon for employees of nearly any type of business to branch off and form their own company. When that company is a new broker dealer firm and a competitor for the former employer, things get complicated. Especially if that employer is Wells Fargo Advisors.  Continue reading ›

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Darien Bonney (Darien Euclid Bonney CRD# 4899007) is a former registered broker last employed with MML Investors Services, LLC (CRD#:10409) of Scottsdale, AZ. He was previously employed with NY Life Securities INC. (CRD#:5167), also of Scottsdale. He has been in the industry since 2005. Bonney has two similar customer disputes in the disclosures in his record. The first was filed on 7/12/2022, alleging that in late 2020, Bonney solicited the client to invest in “Spyglass Financial Strategies,” an entity Bonney himself owned. The client was led to believe that the investment would have no risks as it was related to oil. Bonney also drafted the promissory note himself. As of the filing date, the terms of that note have not yet been met, and the client has suffered losses. The client has requested damages of $1,053,250.00, and the case is currently pending. The second disclosure was filed on 9/16/2022 and alleges that Bonney recommended an investment to them “without a reasonable basis.” The claimants allege that Bonney indicated that there were no risks involved despite being unregistered. They have requested that Bonney return their investment but have only received a portion of that money. The clients are requesting damages of $49,000.00, and the case is currently pending.Darien Bonney (Darien Euclid Bonney CRD# 4899007) is a former registered broker last employed with MML Investors Services, LLC (CRD#:10409) of Scottsdale, AZ. He was previously employed with NY Life Securities INC. (CRD#:5167), also of Scottsdale. He has been in the industry since 2005. Continue reading ›

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Back in 2019, we blogged about broker Michael Venturino (CRD #5872439), the subject of multiple customer disputes totaling $1.6 million. Since then, he has additional disclosures, including two judgements, a bankruptcy discharge, and of course, more customer disputes. At this writing, Venturino is still registered and employed with Spartan Capital Securities, LLC (CRD#: 146251) of Garden City, NY. He began his broker career in 2010. In the disciplinary action, FINRA’s investigation found that Venturino exercised de facto control over the accounts of eleven clients while at Aegis and made unauthorized trades in a total of twelve accounts. He made recommendations to the clients of what they should buy and sell as well as unauthorized trading.Back in 2019, we blogged about broker Michael Venturino (CRD #5872439), the subject of multiple customer disputes totaling $1.6 million. Since then, he has additional disclosures, including two judgements, a bankruptcy discharge, and of course, more customer disputes. Continue reading ›

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According to FINRA Disciplinary actions for November 2022, 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. However, these individuals remain bound by the securities arbitration agreement to arbitrate any disputes between themselves and their former customers:

NAME FORMER EMPLOYERS
  Michael Botrous
  Jaylon Briggs
  Johnnie Brown   PFS Investments Inc.
  Courtney Donella-Sheley   Voya Financial Advisors, Inc.
  ING Financial Advisers, LLC
  Austin Dutton Jr.   American Trust Investment Services, Inc.
  Primex
  Ciara Haro
  Monica Laguna   J.P. Morgan Securities LLC
  Yasmine Mercado
  Cory Tinsley   Farmers Financial Solutions, LLC
  AXA Advisors, LLC
  Khalil Watts   J.P. Morgan Securities LLC

Continue reading ›

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According to FINRA Disciplinary actions for November 2022, 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
  Carl Buhr   Wells Fargo Clearing Services, LLC
  Morgan Stanley
  Neil Fineman   First Allied Securities, Inc.
  Sagepoint Financial, Inc.
  Donald Heitz   LPL Financial LLC
  First Command Fianncial Planning, Inc.
  Tim Leissner   Goldman, Sachs & Co.
  Evan Schottenstein   J.P. Morgan Securities LLC
  Morgan Stanley
  Bruce Smith   The Sports Advisory Group, LLC
  UBS Financial Services Inc.
  David Weigel   Weigel Fiduciary Aset Management LLC
   RBC Capital Markets, LLC

Continue reading ›

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According to FINRA Disciplinary actions for November 2022, 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
  Chad Barancyk   Great Point Capital LLC
  First Allied Securities, Inc.
  Aren Blackwood
  Richard Carman   Ameriprise Financial Services, LLC
  LPL Financial LLC
  John Molskness   Valic Financial Advisors, Inc.
  New England Securities
  Thomas Pfeiffer   MML Investors Services, LLC
  Chelsea Financial Services
  Emily Pich   Key Investment Services LLC
  Firasat Siddiqui   Ameriprise Financial Services, LLC
  IDS Life Insurance Company
  Cari Spicer   Cavu Securities LLC
  Triton Pacific Securities, LLC

Continue reading ›

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According to FINRA Disciplinary actions for October 2022, 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
  Darien Bonney   MML Investors Services, LLC
  NYLife Securities Inc.
  Jimmy Cheng   J.P. Morgan Securities LLC
  Merrill Lynch, Pierce, Fenner & Smith Incorporated
  Eddy Chou   Inspire Advisors, LLC
  Ameriprise Financial Services, LLC
  Kara Gagnon   Global Atlantic Distributors, LLC
  MetLife Investors Distribution Company
  Johana Jimenez
  Derick Stickland   Allstate Financial Services, LLC

Continue reading ›

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