Securities Arbitration Lawyers Blog
FINRA Suspends Registered Individuals For Failing To Comply With FINRA Arbitration Award Or Settlement Agreement July 2020
According to FINRA Disciplinary actions for July 2020, 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 |
| Thomas Ambrose | Ambrose Wealth Management |
| Cambridge Investment Research, Inc. | |
| Matthew Beaver | Grit Wealth Management, LLC |
| Ameriprise Financial Services, Inc. | |
| Neal Carlson | Forthright Family Wealth Advisory LLC |
| Wells Fargo Clearing Services, LLC | |
| Karl Foust, Jr. | H.D. Vest Investment Services |
| GunnAllen Financial, Inc. | |
| Ryan Kaufman | Securities America, Inc. |
| Woodbury Financial Services, Inc. | |
| Henry Osorio, Jr. | Westrock Advisors, Inc. |
| S.W. Bach & Company | |
| Damion Smith | Great Gable Wealth Management |
| Morgan Stanley | |
| Walter Taylor, Jr. | Wells Fargo Clearing Services, LLC |
| Wells Fargo Advisors LLC | |
| Howard Walzer | BB&T Securities, LLC |
| UBS Financial Services Inc. | |
| Xianyu Yu Zhang | Wells Fargo Clearing Services, LLC |
| LPL Financial LLC |
Ricardo Turlan is a previously registered broker who last worked for UBS Financial Services in San Antonio, Texas. Turlan’s record shows that in 2019 he was discharged from UBS after an investigation allegedly determined that he exercised discretion in client accounts without proper authorization and traded at unsuitable levels.
Dustin Shafer (Dustin Paul Shafer) is a currently-registered broker employed by Newbridge Securities Corporation (CRD# 104065) in Springfield, Illinois. He previously worked for Money Concepts Capital Corp (CRD# 12963), Chase Investment Services Corp (CRD# 25574), Banc One Securities Corporation (CRD# 16999), and Edward Jones (CRD# 250). Shafer has been in the industry since 2000. 
George Schmidt, Jr. is a barred broker who was last registered with Lincoln Financial Advisors Corporation in Melville, NY. In February, 2020 Schmidt was terminated after an allegation of misappropriation. After that, he was barred from associating with any FINRA member.
Christopher Parris, who is facing federal charges related to a multi-million dollar Ponzi scheme that robbed hundreds of people of their savings, has now been accused of running a coronavirus scam by taking millions of dollars from people looking for COVID-19 personal protection equipment (PPE).
The Securities and Exchange Commission (SEC) is suing Frederick Stow (Frederick Markley Stow), a barred broker last employed by Raymond James in Nashville, Tennessee, for allegedly defrauding two senior citizens of over $943,500.
Jeffrey Dixson (CRD# 4166311) is a previously registered broker and investment adviser who was last registered with Madison Avenue Securities in Vancouver, Washington. Dixson’s BrokerCheck report includes customer disputes seeking hundreds of thousands of dollars in damages regarding the sale of GPB Capital.
Co-Diagnostics, Inc. (CODX), a publicly-traded diagnostics company headquartered in Salt Lake City, Utah, is the subject of a class action lawsuit that seeks to recover damages for investors.
Masood Azad (Masood Husain Azad, CRD# 4798445) is a barred broker last registered with First Allied Securities, Inc. (CRD# 32444) in League City, Texas. He was previously registered with Voya Financial Advisors, Inc. (CRD# 2882). He had been in the industry since 2004.