Securities Arbitration Lawyers Blog

WFG Investments Broker Carl Busch Fined and Suspended by FINRA

March 7, 2016 | Silver Law Group

WFG Investments Broker Carl Busch Fined and Suspended by FINRA on silverlaw.com

Broker’s record includes failure to supervise, tax liens and civil judgments.

In his 46 years in the securities industry, Oklahoma City investment advisor Carl Busch has six disclosure events listed on his official FINRA BrokerCheck record. The most recent event in December 2015 shows that FINRA sanctioned Busch $5,000 and suspended him from participating in the securities industry as an advisor for 45 days.

According to the disciplinary action details, Busch failed to adequately supervise a registered representative of his firm, WFG Investments, who allegedly:

Have You Lost Money with Cantone Research Inc.?

March 1, 2016 | Silver Law Group

Have You Lost Money with Cantone Research Inc.? on silverlaw.com

Have you invested money with Cantone Research or its affiliates?

In an official FINRA disciplinary proceeding in 2012, New Jersey brokerage firm Cantone Research Inc. (CRI) and firm Vice President and Chief Compliance Officer Christine Cantone (Cantone) agreed to the entry of findings, violations, and sanctions filed against both parties. Allegations in the complaint involve Cantone’s failure to reasonably supervise broker Maxwell Baldwin Smith.

It is believed that Smith sold fictitious investments to the firm’s customers and misappropriated over $1.6 million of their funds. Cantone, according to FINRA, should have recognized certain signs of misconduct on the part of Smith, however, failed to do so, and as a result CRI investors suffered significant financial losses.

Have You Enlisted the Financial Services of William Bailey?

February 29, 2016 | Silver Law Group

Have You Enlisted the Financial Services of William Bailey? on silverlaw.com

Broker’s securities industry career is tainted with allegations, suspensions, and sanctions.

For a second time in his 25-year securities industry career, Bailey has been suspended from acting as a broker or otherwise associating with firms that sell securities to the public. This most recent suspension in November 2015 is due to Bailey’s failure 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. According to FINRA records, Bailey was employed by Next Financial until 2008.

Bailey’s first FINRA suspension took place in September 2010 and involved allegations that Bailey made fraudulent and unsuitable mutual fund and variable annuity switch recommendations to retired and unsophisticated customers with little or no economic benefit to the customers. It was also alleged that Bailey failed to disclose key facts about investment choices, made investment trades without consulting his clients, and failed to disclose potential sales charges that ultimately cost his customers over $90,000.00 in unnecessary costs. At the same time, Bailey derived approximately $105,000.00 in commissions from these transactions.

FINRA Suspends Registered Individuals in February 2016 for Failure to Comply with FINRA Rules

February 29, 2016 | Silver Law Group

According to FINRA Disciplinary actions for February 2016, 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
Philip Wayne Conley	Merrill Lynch, Pierce, Fenner & Smith, Inc.
	Wells Fargo Advisors, LLC
Daniel Joseph Crowley	Equus Financial Consultings, LLC
	Rochdale Securities, LLC
Laurie Anne Facsina	LPL Financial, LLC
	Stratos Wealth Partners, LTD
Daniel Steven Gedatus	RBC Dain Rauscher, Inc.
	Merrill Lynch, Pierce, Fenner & Smith, Inc.
William Albert Hansen	Hudson Heritage Capital Management, INc.
	Wells Fargo Advisors, LLC
Aaron Leonard Heimowitz	Lantern Investments, Inc.
	Global Arena Capital Corp.
Greg James Hilliard	Toussaint Capital Partners, LLC
	Oppenheimer & Co, Inc.
Thomas Wayne Ottman	Benjamin F. Edwards & Company, Inc.
	Feltl & Company
Armando Wood	Raymond James & Associates, Inc.
	UBS Financial Services, 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.

FINRA Suspends Registered Individuals in February 2016 for Violations of FINRA Rules

February 29, 2016 | Silver Law Group

According to FINRA Disciplinary actions for February 2016, 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
Steven Angelo Aguilar	J.P. Morgan Securities, LLC
Thomas Edward Andrews	LPL Financial, LLC
John H. Berry	Crown Capital Securities, LP
John H. Berry	LPL Financial, LLC
Jeffrey Alan Bond	David Lerner Associates, Inc.
Ricardo Athelstone Broome	Woodstock Financial Group, Inc.
Ricardo Athelstone Broome	Meyers Associates LP
Thomas Buono	Park Avenue Securities, LLC
Henry Kimtong Chang	Cetera Advisor Networks LLC
Henry Kimtong Chang	Financial Network Investment Corp.
Veronica A. Deese	The Vanguard Group, Inc.
Larry Gordon Goldston	Caprock Securities, Inc.
Larry Gordon Goldston	Morgan Stanley DW, Inc.
Rogelio Fernando Guevara	Northwestern Mutual Investment Services, LLC
Li-Lin Hsu	Ameriprise Financial Services, Inc.
Li-Lin Hsu	Transglobal Advisory, LLC
Roy Edward Jones	J.P. Morgan Securities, LLC
Roy Edward Jones	Castle Oak Securities
Sean Francis Lanci	J. Streicher Capital, LLC
Sean Francis Lanci	John Thomas Financial
Tiffany Kim Le	Logic Wealth Management
Tiffany Kim Le	J.P. Morgan Securities, LLC
Sergio D. Lopez	MML Investors Services, LLC
Sergio D. Lopez	NYLife Securities, LLC
April Christine Morris-Spicer	Wunderlich Securities, Inc.
April Christine Morris-Spicer	Lincoln Investment
Sean David Portnoy	Nobles & Richards, Inc.
Sean David Portnoy	Sethi Financial Group
Samatha Raeshawn Raines	Fidelity Brokerage Services, LLC
Royal Vance Keith Charles Reynolds III	Pruco Securities, LLC
Angelos Stephen Tsigounis	Stifel, Nicolaus & Company, Inc.
Angelos Stephen Tsigounis	VFinance Investments, Inc.
Makiasa Donyell Turner	Allstate Financial Services, 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.

FINRA Bars Registered Individuals in February 2016 for Violations of FINRA Rules

February 29, 2016 | Silver Law Group

According to FINRA Disciplinary actions for February 2016, 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
Joe L. Buckner	Brazos Securities, Inc.
Joe L. Buckner	Maplewood Securities, Inc.
Adam Douglas Carrol	The Leaders Group, Inc.
Adam Douglas Carrol	Metlife Securities, Inc.
Dennis Fitzgerald Davis	J.P. Morgan Securities LLC
Dennis Fitzgerald Davis	Chase Investment Services Corp.
Stevaun I. Davis
Theodore Garrity	Feltl & Company
Theodore Garrity	Morgan Stanley & Co, Inc.
Tony Sand Jung	MML Distributors, LLC
Tony Sand Jung	Morgan Stanley Smith Barney
Andreas Stavros Kentrotas	Morgan Stanley Smith Barney
Andreas Stavros Kentrotas	Citigroup Global Markets, Inc.
Jay Max Mabry	Park Avenue Securities
Jay Max Mabry	Regal Investment Advisors, LLC
Joseph Anthony Mele
Eugene Theodore Smietana	LPL Financial, LLC
Eugene Theodore Smietana	Prudential Securities, Inc.
John Howard Towers	VSR Financial Services, Inc.
John Howard Towers	Personal Wealth Advisors, LLC
Jacqueline Lee Vadala	Craig Scott Capital, LLC
Jacqueline Lee Vadala	Rockwell Global Capital, LLC
Kenneth Robert Wooden	Edward Jones
Kenneth Robert Wooden	Chase Investment Services Corp.

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.

Did Bernard Parker Use Your Money to Remodel His Home?

February 25, 2016 | Silver Law Group

Did Bernard Parker Use Your Money to Remodel His Home? on silverlaw.com

If you invested funds with Bernard Parker at Edward Jones, you need to keep reading.

Most recently registered with Edward Jones in Indiana, PA, Bernard Parker is now permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public.

According to his FINRA BrokerCheck record, Parker is accused of stealing investor money to remodel his house and pay other bills. In fact, in November 2015, the Securities and Exchange Commission (SEC) announced fraud charges against Parker. In its complaint, the SEC alleges that Parker conducted an unregistered and fraudulent offering of securities that raised more than $1.2 million from his longstanding brokerage customers and others who were told they were purchasing legitimate tax lien certificates and would earn returns of six to nine percent annually.

FINRA Permanently Bars Barry Hartman From Securities Activity for Alleged “Selling Away” Activities

February 23, 2016 | Silver Law Group

FINRA Permanently Bars Barry Hartman From Securities Activity for Alleged “Selling Away” Activities Silverlaw.com

Montana financial advisor barred from securities activity for multiple FINRA violations

In a ruling that came in August 2015, the Financial Industry Regulatory Authority (FINRA) permanently barred Barry G. Hartman, formerly of FSC Securities Corporation in Missoula, MT, for allegedly engaging in a practice known in the industry as selling away.

While Hartman was registered with FSC, he also managed his securities business through Rocky Mountain Financial LLC. Multiple prior clients are alleging that Hartman recommended outside investments without the necessary approval from his registered firm.

FINRA Permanently Bars Raymond T. Clark from Securities Industry

February 23, 2016 | Silver Law Group

FINRA Permanently Bars Raymond T. Clark from Securities Industry on silverlaw.com

Former Dynasty Capital Partners broker ends 15-year career with numerous customer disputes.

After 17 years as a financial adviser, Raymond T. Clark has been permanently barred from the securities industry. This permanent bar follows Clark’s failure to pay fines and/or costs associated with a FINRA complaint. The complaint also alleges that Clark failed to appear for, or provide on-the-record testimony that materially impeded the agency’s investigation of his activities as a broker, including numerous acts of broker misconduct. In fact, through the years, allegations made by customers against Clark include:

Excessive and unauthorized trading

FINRA Bars Patrick Garrett Amid Allegations of Overstating Account Values

February 22, 2016 | Silver Law Group

FINRA Bars Patrick Garrett Amid Allegations of Overstating Account Values on silverlaw.com

Financial advisor Patrick Garrett barred from having any activity with FINRA regulated firms

The Financial Industry Regulatory Authority (FINRA) has taken steps to bar Patrick Garrett of Nashville, TN from any further activities with the securities industry after multiple, serious allegations of intentionally overstating client account values, which masked significant trading losses for that client.

According to his FINRA report, Garrett was dishonest about the amount in the client’s account, indicating that the balance was actually $200,000 higher than its actual value. He allegedly tried to rectify this discrepancy by misusing funds from a joint account held by a married couple.