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According to FINRA Disciplinary actions for May 2023, 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
  Albert Foronda   Spartan Capital Securities, LLC
  Worden Capital Management LLC
  Mark Miranda   Spartan Capital Securities, LLC
  Network 1 Financial Securities, Inc.
  Yvonne Nguyen   NYLIFE Securities LLC
  Alexandra Smith   J.P. Morgan Securities, LLC
  Merrill Lynch, Pierce, Fenner & Smith Incorporated
  Kenneth Wade   Cetera Advisors Networks LLC
  PFS Investments Inc.

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According to FINRA Disciplinary actions for May 2023, 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
  Damian Baird   Moors & Cabot, Inc.
  Morgan Stanley
  Bridget Fernandez   Ultimate Financial Investments, LLC
  UBS Financial Services Inc.
  Rajesh Gupta   Morgan Stanley
  J.P. Morgan Securities LLC
  Donald Smith   Provident Private Capital Partners, Inc.
  Vestax Securities Corporation
  Brian Wurdemann   RBC Capital Markets, LLC
  UBS Financial Services Inc.

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According to FINRA Disciplinary actions for May 2023, 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 Cutrone   Neuberger Berman BD LLC
  Ronald Diaz   Morgan Stanley
  J.P. Morgan Securities LLC
  Mulan Greenway
  Joshua Lovings
  Josette Santos   Wells Fargo Clearing Services, LLC
  Harold Stephenson   LPL Financial LLC
  Herrmann Securities, Inc.

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Matthew Boehm (Matthew John Boehm CRD# 4418029) is a registered broker and investment advisor currently employed with Woodbury Financial Services, Inc. (CRD# 421) of East Peoria, IL. He was previously employed with Lion Street Advisors, LLC (CRD# 167610 as an investment advisor), and also of East Peoria, and Lion Street Financial, LLC (CRD# 165828, as a broker) of Peoria, and Woodbury Financial Services, Inc. (CRD# 421 as a broker and investment advisor) of Bonita Springs, FL. He has been both a broker and investment advisor throughout his career, which began in 2003. Boehm has only one disclosure in this CRD, a recently filed customer dispute which is currently pending. Filed on 1/31/2023, the client is requesting damages of $75,000. The customer alleges they  purchased GWG Holding’s now-defunct L-Bonds from Boehm. In August of 2022, she filed a securities arbitration, claiming that while at Lion Street Financial he sold her these L-Bonds. In the arbitration, she alleged misrepresentation and failure to supervise the suitability of GWG L-bonds. Lion Street Financial has sought to implead Boehm—bring him into the case—allegedly to settle the claim.Matthew Boehm (Matthew John Boehm CRD# 4418029) is a registered broker and investment advisor currently employed with Woodbury Financial Services, Inc. (CRD# 421) of East Peoria, IL. He was previously employed with Lion Street Advisors, LLC (CRD# 167610 as an investment advisor), and also of East Peoria, and Lion Street Financial, LLC (CRD# 165828, as a broker) of Peoria, and Woodbury Financial Services, Inc. (CRD# 421 as a broker and investment advisor) of Bonita Springs, FL. He has been both a broker and investment advisor throughout his career, which began in 2003. Continue reading ›

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Damian Baird (Damian Mark Baird CRD# 3097243) is a previously registered broker and investment advisor most recently employed with Moors & Cabot, Inc. (CRD# 594) of Boston, MA. His previous employers include Morgan Stanley (CRD# 149777) of Williamsville, NY, UBS Financial Services Inc.   (CRD# 8174) of Buffalo, NY, and HSBC Securities (USA) Inc. (CRD# 19585) of Depew, NY.  He has been in the industry since 1998. FINRA Arbitration Involving Damian Baird Baird was suspended by FINRA following an arbitration proceeding in January of 2023 brought by his previous employer, Morgan Stanley, who alleged that he had failed to repay three notes totaling $888,403.12. FINRA requested documents and information, which Baird failed to produce. He also failed to attend the evidentiary hearing conducted via videoconference.

Damian Baird (Damian Mark Baird CRD# 3097243) is a previously registered broker and investment advisor most recently employed with Moors & Cabot, Inc. (CRD# 594) of Boston, MA. His previous employers include Morgan Stanley (CRD# 149777) of Williamsville, NY, UBS Financial Services Inc.   (CRD# 8174) of Buffalo, NY, and HSBC Securities (USA) Inc. (CRD# 19585) of Depew, NY.  He has been in the industry since 1998. Continue reading ›

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Christopher Kennedy (Christopher Booth Kennedy CRD# 4498061) is a former registered broker and investment advisor last employed with Western International Securities, Inc. (CRD#:39262) of Woodland Hills, CA. His previous employers included Spartan Capital Securities, LLC (CRD# 146251) of New York, NY, Western International Securities, Inc. (CRD# 39262) and Financial West Group (CRD# 16668, expelled by FINRA on 2/13/2020) of Tarzana, CA. He has been in the industry since 2002.  Kennedy was discharged by Western International on 8/27/2021 with cause, “Clients have alleged unauthorized options trading and failure to adhere to discretionary options sales orders.” No additional information is available. However, Kennedy’s CRD includes ten customer disputes dated from 9/10/2021 through 6/9/2022. Of the ten, seven are settled, and three are listed as “pending.” All have allegations of misconduct including improper trading and other breaches of fiduciary duty.  Christopher Kennedy (Christopher Booth Kennedy CRD# 4498061) is a former registered broker and investment advisor last employed with Western International Securities, Inc. (CRD#:39262) of Woodland Hills, CA. His previous employers included Spartan Capital Securities, LLC (CRD# 146251) of New York, NY, Western International Securities, Inc. (CRD# 39262) and Financial West Group (CRD# 16668, expelled by FINRA on 2/13/2020) of Tarzana, CA. He has been in the industry since 2002.  Continue reading ›

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Silver Law Group, a nationally recognized law firm that represents investors, is currently investigating Alliance Bernstein after its customers suffered losses related to their Option Advantage Strategy. If you invested in Alliance Bernstein’s Option Advantage and have questions about your legal rights, or if you have information relevant to this matter, contact Silver Law Group for a no-cost consultation at 800-975-4353 to discuss your potential options. Advisors with global asset management firm Alliance Bernstein encouraged their investment customers to invest in a new and complicated options strategy they called “Options Advantage.” This strategy was described as something for investors who were “seeking incremental return in a low yield environment.”Silver Law Group, a nationally recognized law firm that represents investors, is currently investigating Alliance Bernstein after its customers suffered losses related to their Option Advantage Strategy.

If you invested in Alliance Bernstein’s Option Advantage and have questions about your legal rights, or if you have information relevant to this matter, contact Silver Law Group for a no-cost consultation at 800-975-4353 to discuss your potential options. Continue reading ›

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If you were one of the many investors who were led to believe that the Options Advantage Program from Alliance Bernstein was a solid investment, Silver Law Group may be able to help you recover your investment. The current investigation involves AllianceBernstein LP and Sanford C. Berstein & Co. and their brokers. These entities are being scrutinized for allegedly recommending their clients to invest in the Option Advantage Strategy, which is a complex options strategy designed to generate additional returns in a “low yield environment.” The crux of the program was the “cash-free” appeal. This meant that returns were on funds already invested so that investors wouldn’t have to deposit more. The funds were collateral, and the additional returns relied on margins. The promotion of the Option Advantage Strategy occurred from 2018 until October 2022.If you were one of the many investors who were led to believe that the Options Advantage Program from Alliance Bernstein was a solid investment, Silver Law Group may be able to help you recover your investment losses.

The current investigation involves AllianceBernstein LP and Sanford C. Berstein & Co. and their brokers. These entities are being scrutinized for allegedly recommending their clients to invest in the Option Advantage Strategy, which is a complex options strategy designed to generate additional returns in a “low yield environment.” Continue reading ›

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Silver Law Group is investigating claims involving the AllianceBernstein Options Advantage Program, where investors were offered the opportunity to earn additional return on already-invested funds. The firm’s financial advisors allegedly sold this program as low risk and low volatility, but many investors suffered significant losses. Many investors claim they were told that they could earn an additional 1% to 2% return on assets they’d previously invested in the firm. The so-called “cash-free” option involved using margin to avoid having customers add additional funds to their account. The idea was that using margin would make it less risky to the investor. The existing stocks, bonds, mutual funds, or other investments became the collateral for borrowing on margin.Silver Law Group is investigating claims involving the AllianceBernstein Options Advantage Program, where investors were offered the opportunity to earn additional return on already-invested funds. The firm’s financial advisors allegedly sold this program as low risk and low volatility, but many investors suffered significant losses. Continue reading ›

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Cathie Joughin (Cathie Ann Joughin CRD# 1044884, a/k/a “Cathie Joughin Barnard,” “Cathie Ann Goughin,” “Cathie Joughin”) is a previously registered broker and investment advisor whose last employer was Ameriprise Financial Services, LLC (CRD# 6363) of Bakersfield, CA. Her previous employers include Wells Fargo Advisors Financial Network, LLC (CRD#:11025) and Wedbush Securities Inc. (CRD# 877), also of Bakersfield, and Triquest Financial, Inc. (CRD# 6596) of Glendale, CA. She is not currently registered with any FINRA member firm, has been in the industry since 1982. Ameriprise Termination And FINRA Investigation On 12/17/2021, Joughin voluntarily resigned from her employment at Ameriprise “while under review for compliance policy violations related to a fiduciary relationship.” No additional details are available. In January of 2022, Ameriprise filed a Uniform Termination Notice for Securities Industry Registration (Form U5) with FINRA listing the investigation as the reason for her departure.Cathie Joughin (Cathie Ann Joughin CRD# 1044884, a/k/a “Cathie Joughin Barnard,” “Cathie Ann Goughin,” “Cathie Joughin”) is a previously registered broker and investment advisor whose last employer was Ameriprise Financial Services, LLC (CRD# 6363) of Bakersfield, CA. Her previous employers include Wells Fargo Advisors Financial Network, LLC (CRD#:11025) and Wedbush Securities Inc. (CRD# 877), also of Bakersfield, and Triquest Financial, Inc. (CRD# 6596) of Glendale, CA. She is not currently registered with any FINRA member firm, has been in the industry since 1982. Continue reading ›

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