Securities Arbitration Lawyers Blog

FINRA Bars Former Newbridge Broker Jerry Mofield

December 13, 2015 | Silver Law Group

Jerry Mofield, a broker formerly with Roanoke, Virginia office of Newbridge Securities was permanently barred by FINRA for failing to respond to a request by FINRA for information.

Mofield was registered Newbridge from June 2007 until July 2014. According to his FINRA BrokerCheck report, he had a customer complaint alleging conversion, negligence, breach of fiduciary duty and breach of contract that was settled while at Newbridge. Mofield was a broker with First Montauk Securities, Multi-Financial Securities Corp, American Express Financial Advisors and IDS Life Insurance Company prior to working at Newbridge.

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.

Fired LPL Broker Alfred Talens Barred by FINRA

December 12, 2015 | Silver Law Group

Former LPL broker Alfred Talens was permanently barred by FINRA for failing to respond to a request by FINRA for information. Talens was terminated by LPL for violating firm policy regarding participation in outside business activities and borrowing money from clients. Talens has a pending FINRA arbitration based on a customer complaint alleging unsuitability in connection with the investment in a variable annuity and alleging Talens was engaged in the sale of unregistered and unapproved securities while at LPL.

A broker at LPL Financial from September 2009 until February 2015, Talens previously was registered with New England Securities, Banc One Securities Corporation and IFMG Securities, Inc. in addition to several other firms during his 12 years in the securities industry. LPL has been plagued in recent years by customer complaints that LPL financial advisors were selling unauthorized investments or otherwise engaged in improper outside business activities.

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 Suspends Registered Individuals for Violations of FINRA Rules

December 11, 2015 | Silver Law Group

According to FINRA Disciplinary actions for October 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
Modesto Biney	Wells Fargo Advisors, LLC
Michael Joseph Cassano	Metlife Securities Inc.
Eduardo Jhonattan Chacon Melgarejo	J.P. Morgan Securities LLC
Alisha Chahal
Johnnie L. Christopher Jr.	J.P. Morgan Securities LLC
Johnnie L. Christopher Jr.	Chase Investment Services Corp.
Ina E. Collazo	J.P. Morgan Securities LLC
Ina E. Collazo	Chase Investment Services Corp.
Stephen Anthony Dalla Torre	PNC Investments
Stephen Anthony Dalla Torre	Wachovia Securities, LLC
Andrea Lynn Fayette
Alain J. Florestan	Caldwell International Securities
Alain J. Florestan	Brookstone Securities, Inc.
Ricardo Francois	Caldwell International Securities
Ricardo Francois	PHD Capital
Honetta C. Kao	Meyers Associates, L.P.
Honetta C. Kao	Caldwell International Securities
Sean Thomas Lopez	J.P. Morgan Securities LLC
Albert Manzo	J.P. Morgan Securities LLC
Andrew Marzec	Newbridge Securities Corporation
Andrew Marzec	Global Arena Capital Corp
Richard Allen McGuire	Newport Coast Securities, Inc.
Richard Allen McGuire	Financial West Group
Frederick Eugene Monroe Jr.	Voya Financial Advisors, Inc.
Frederick Eugene Monroe Jr.	Northwestern Mutual Investment Services
Mary Pearl Reed	Wells Fargo Advisors, LLC
Mary Pearl Reed	Morgan Stanley DW Inc.
Jessica Claire Sampel
Matthew J. Semetulskis	J.P. Morgan Securities LLC
Grace W. Smith	TIAA-CREF Individual & Institutional Services, LLC
Grace W. Smith	Wells Fargo Advisors, LLC
Michael Terrence Snedeker	Investors Capital Corp.
Michael Terrence Snedeker	Banc of America Investment Services, Inc.
James Coleman Starks	Caldwell International Securities
James Coleman Starks	PHD Capital
Marat Zeltser aka Matt Zeltser	Meyers Associates, L.P.
Marat Zeltser aka Matt Zeltser	Caldwell International Securities

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 Suspends Registered Individuals for Failure to Comply with Award or Settlement Agreement

December 11, 2015 | Silver Law Group

According to FINRA Disciplinary actions for October 2015, 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
James Curtis Ackerman	Sloan Securities Corp
	Aplan Securities, Inc.
Robert Joseph Altemus	Merrill Lynch, Pierce, Fenner & Smith Inc
	Citigroup Global Markets Inc.
John Francis Clancy	UBS Financial Services Inc.
	BB&T Investment Services, Inc.
Scott Alan Dascani	Ameriprise Financial Services, Inc.
	GunnAllen Financial, Inc.
Matthew DiGregorio	Aegis Capital Corp.
	J.D. Nicholas & Associates, Inc.
Hugh Monroe Dyson Jr.	Ameriprise Financial Services, Inc.
	Ameriprise Advisor Services, Inc.
Peter Alex Gouzos	Hunter Scott Financial LLC
	Dawson James Securities
William Albert Hansen	Wells Fargo Advisors, LLC
	Chase Investment Services Corp.
Donna Marie Jenkins	International Assets Advisory, LLC
	Anderson & Strudwick, Inc.
Jason Eric Mininger	Kovack Securities Inc.
	Wedbush Securities Inc.
Scott Cameron Nicol	L.M. Kohn & Company
	Merrill Lynch, Pierce, Fenner & Smith Inc.
John Morgan Pickens Jr.	United Brokerage Services, Inc
	Edward Jones
Francisco Xavier Savigne	Wells Fargo Advisors, LLC
	Morgan Stanley Smith Barney
Michael Edward Wallace	PreferredTrade, Inc.
	Montrose Capital Management Ltd.

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.

Registered Individuals Barred by FINRA for Violations of FINRA Rules

December 11, 2015 | Silver Law Group

According to FINRA Disciplinary actions for October 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
Bennett Scott Broad	Oppenheimer & Co. Inc.
Bennett Scott Broad	UBS PaineWebber Inc.
Antonio Costanzo	Titus Rockefeller, LLC
Antonio Costanzo	IFS Securities
Steven Craig Duprey
Niaz Elmazi aka Nick Morrisey	Global Arena Capital Corp
Niaz Elmazi aka Nick Morrisey	HFP Capital Markets LLC
John A. Gervasi	Brookville Capital Partners
Paige Strother Hays	J.P. Morgan Securities
Michael Ross Highfill	Merrill Lynch, Pierce, Fenner & Smith Inc.
Michael Ross Highfill	Morgan Stanley & Co Inc
Jose Manuel Irizarry	UBS Financial Services Inc.
Jose Manuel Irizarry	Santander Securities
Keith Joseph Kobziewicz	MidAmerica Financial Services, Inc.
Keith Joseph Kobziewicz	Kovack Securities Inc.
Robert Mas Laborete	TD Ameritrade, Inc.
Robert Mas Laborete	Jack White & Company, Inc.
Scott Lyndon Martin	Securities America, Inc.
Scott Lyndon Martin	Brecek & Young Advisors, Inc.
Silvia Navarro Vallesillo
Marcus Antonio Ortega	J.P. Morgan Securities LLC
Rachael N. Register
Matthew J. Semetulskis	J.P. Morgan Securities LLC
Christopher Anthony Sumner	SCF Securities, Inc.
Christopher Anthony Sumner	Puplava Securities, Inc.
Melonie P. Thomas

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.

Paul A. Posillico Permanently Barred from Securities Industry

December 10, 2015 | Silver Law Group

Paul A. Posillico Permanently Barred from Securities Industry on silverlaw.com

Numerous allegations and failure to respond to FINRA requests drive decision

After 10 years in the securities industry, Paul Posillico has been permanently barred from practicing as a financial broker or investment advisor. During his ten years of buying and selling securities on behalf of customers and providing advice about securities to clients, Posillico had more than 9 allegations of broker misconduct made against him.

According to FINRA’s BrokerCheck report on Posillico, the broker was barred from the securities industry for “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.”

Equinox Securities Company and Staff Charged With Fraud Scheme

December 9, 2015 | Silver Law Group

Equinox Securities Company and Staff Charged With Fraud Scheme on silverlaw.com

The firm, as well as its president and CCO, are charged with alleged churning, excessive trading and unsuitable recommendations

Equinox Securities, as well as President Steven Michael Oliveira and CCO Chris Blaine Palkowitsch, were all charged by the FINRA Department of Enforcement in a specific complaint about allegations of excessive churning of customer accounts and excessive trades, in addition to making unsuitable recommendations for customers.

Churning occurs when a broker repeatedly buys or sells securities in a customer’s account in order to generate commissions from those sales without any benefit to the customer. Purchases that don’t appear directly necessary to the customer’s investment goals may be classified as churning and can lead to a FINRA investigation.

Chestnut Exploration and Mark Plummer Facing Allegations of Securities Fraud With Oil & Gas Securities

December 8, 2015 | Silver Law Group

Chestnut Exploration and Mark Plummer Facing Allegations of Securities Fraud With Oil & Gas Securities on silverlaw.com

Claims of omission, misrepresentation and wrongful use of client funds follow alleged losses totaling over $5M

Chestnut Exploration Partners and broker Mark A. Plummer were recently named in a FINRA disciplinary action that alleges omissions and material misrepresentations were made in the sale of private placement securities contracts to 88 customers, who allege that they lost over $5,000,000 after investing in the 4×4 Securities, representing an average 90 percent loss on those investments. According to the claim, Chestnut Exploration Partners and Plummer allegedly misused at least $567,000 that were put up by investors for completion and drilling costs.

Plummer spent 11 years working in the securities industry and was registered with Chestnut Exploration, which was previously known as Chestnut Energy Partners, from 2003 to 2014. Mr. Plummer is also currently the subject of two customer complaints.

FINRA Bars Broker Michael Talin From Securities Industry

December 7, 2015 | Silver Law Group

FINRA Bars Broker Michael Talin From Securities Industry on silverlaw.com

Allegations include elder financial fraud, misappropriation of funds and unsuitable recommendations

Michael Talin, a former broker associated with Woodbury Financial Services, has been barred from the securities industry by FINRA after failing to cooperate with agency investigators. An investigation was launched after customers alleged that he misappropriated and converted more than $300,000 in customer funds.

According to the BrokerCheck report, Woodbury Financial discharged Talin after he failed to disclose three tax liens and civil complaints against him to the firm. He had previously been registered with Woodbury’s Seal Beach branch in California since 1998 and had worked in the Los Alamitos location since the year 2000.

Former New York Life Broker, Jonathan Williams, Barred by FINRA as a Result of Outside Business Activities

December 7, 2015 | Silver Law Group

Former New York Life Broker, Jonathan Williams, Barred by FINRA as a Result of Outside Business Activities on silverlaw.com

NY Life Securities LLC terminates broker, files U-5 with allegations of commingling client funds

FINRA recently brought enforcement action against Jonathan Williams that led to a bar from the securities industry. Williams was accused of failing to provide FINRA staff with documents and information requested by the agency in an investigation. The failure to provide these documents as well as other information to FINRA led to an automatic bar working in the industry at all, as brokers bear a responsibility to comply with ongoing investigations.

The investigation in question had to do with claims about whether Williams had falsified bank account records or commingled client funds in a bank account that was ultimately under his control. This investigation stems from Williams’ termination from NY Life Securities LLC in March earlier this year. At that time, NY Life officially filed a termination notice with FINRA on form U-5 stating, that the firm discharged the broker in question as a result of allegations of commingling client funds.