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According to FINRA Disciplinary actions for May 2019, 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
  Bang, Gregory   NYLife Securities LLC
  Bishop, Tywan   Charles Schwab & Co, Inc
  ETrade
  Block, Gabriel   First Standard Financial Company LLC
  National Securities Corporation
  Duchan, Patricia   UBS Financial Services Inc
  Hovermale, Jeffrey   Sovereighn Legacy Securities, Inc
  Sigma Financial Corporation
  Kane, Jordan   Citizens Securities, Inc
  Martinez, Joseph   Pruco Securities, LLC
  The Prudential Insurance Company of America
  Norris, Timothy   BMO Harris Financial Advisors, Inc
  HarrisDirect LLC
  Weldon, Benjamin   State Farm VP Mgmt Corp
  Ben Weldon Insurance Agency

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.

 

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According to FINRA Disciplinary actions for May 2019, 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
  Bethan, Frank   Quest Capital Strategies, Inc
  Wells Fargo Clearing Services, LLC
  Cody, Jill   Concorde Investment Services, LLC
  Westminster Financial Securities, Inc
  Cody, Richard   IFS Securities
  Concorde Investment Services, LLC
  Genovese Michael   Laidlaw & Company (UK) LTD
  Rockwell Global Capital LLC
  Guderyon, John   WM Smith & Co
  Crest Capital LLC
  Laboranti, Jeffrey   Morgan Stanley
  Merrill Lynch, Pierce, Fenner & Smith Inc
  Martino, Andrew   Morgan Stanley
  Merrill Lynch, Pierce, Fenner & Smith Inc
  Simanski, Douglas   Next Financial Group, Inc
  Advantage Capital Corporation
  Valladolid, Guillermo   Morgan Stanley
  Merrill Lynch, Pierce, Fenner & Smith Inc
  Wadsworth, Jackie   IMS Securities, Inc
  Acumen Securities, 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. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Our lawyers have extensive experience collecting FINRA arbitration awards, prevailing on Motions to Vacate FINRA arbitration awards and using various collection efforts to enforce FINRA awards after they are received.

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According to FINRA Disciplinary actions for May 2019, 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
  Anderson, Andy   ProEquities, Inc.
  PFS Investments Inc,
  Bishop, Tywan   Charles Schwab & Co, Inc
  ETrade Securities LLC
  Conrekas, Edward   J.W. Cole Financial, Inc
  Morgan Stanley
  Donato, Scott   Morgan Stanley
  Flaningan, Joel   NYLife Securities LLC
  Synergy Investment Services LLC
  Johnson, Anthony
  Marnelego, Christopher   First Standard Financial Company LLC
  Merriman Capital, Inc
  Ness, Valerie
  Norris, Timothy   BMO Harris Financial Advisors, Inc
  HarrisDirect LLC
  Vrazel, Patsy
  Worthington, Bruce   Founders Financial Securities LLC
  Commonwealth Financial Network

FINRA makes this information available, in part, to inform investors about potential red flags or problems with certain stockbrokers.  If you invested with anyone in this report and have questions about your legal rights, our attorneys will talk with you at no cost to explain your legal rights and about how we can help recover your investment losses through securities arbitration or litigation.

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.

 

 

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Jackie Wadsworth (CRD #2342163) is a barred broker who formerly worked with IMS Securities in Houston, Texas (CRD#: 35567). She previously worked with Retirement Investment Group (CRD#: 7421), also in Houston. She has been in the industry since 1993.Wadsworth is the subject of 9 disclosures, eight of them customer disputes, starting in 1999.Wadsworth was the CEO of IMS Securities, which was the underwriter and wholesaler for United Development Funding IV (UDF IV), a real estate investment trust (REIT). In 2016 the FBI raided the offices of UDF IV, and the price of its shares subsequently collapsed.Jackie Wadsworth (CRD #2342163) is a barred broker who formerly worked with IMS Securities in Houston, Texas (CRD#: 35567). She previously worked with Retirement Investment Group (CRD#: 7421), also in Houston. She has been in the industry since 1993.

Wadsworth is the subject of 9 disclosures, eight of them customer disputes, starting in 1999. Continue reading ›

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James Flynn VOYA Financial

Silver Law Group, a nationally-recognized law firm representing investors, continues to file FINRA arbitration claims on behalf of clients against Voya Financial Advisors regarding its former employee James Flynn (a/k/a Jim Flynn CRD# 3082615) of Greenville, South Carolina. 

The claims request compensation to recover investment losses suffered by our clients and allege that Voya Financial failed to supervise Flynn while he was a registered representative of Voya. Continue reading ›

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Kristian M. Gaudet (CRD#: 4190811) is a former registered broker whose last employer was Ameritas Investment Corp. (CRD#:14869) of Cut Off, Louisiana. He was previously employed by The Advisors Group, Inc. (CRD#:14035) of Bethesda, MD and Princor Financial Services Corporation (CRD#:1137) of Des Moines, IA. No current employment information is available. He has been in the industry since 2000.FINRA initiated an investigation after it became suspicious that Gaudet was involved in fraudulent activity. On 12/10/2018, following an internal firm investigation, Ameritas discharged Gaudet after discovering that he was using client funds for personal use.Kristian M. Gaudet (CRD#: 4190811) is a former registered broker whose last employer was Ameritas Investment Corp. (CRD#:14869) of Cut Off, Louisiana. He was previously employed by The Advisors Group, Inc. (CRD#:14035) of Bethesda, MD and Princor Financial Services Corporation (CRD#:1137) of Des Moines, IA. No current employment information is available. He has been in the industry since 2000.

FINRA initiated an investigation after it became suspicious that Gaudet was involved in fraudulent activity. On 12/10/2018, following an internal firm investigation, Ameritas discharged Gaudet after discovering that he was using client funds for personal use. Continue reading ›

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Scott J. Donato (CRD#: 2336331) is a former registered broker and investment advisor who was last employed with Morgan Stanley (CRD#:149777) of Miami, FL, until 2017. He previously worked for two different Morgan Stanley companies, (CRD#: 8209 and 7556) since 1993. No current employment information is available. Scott Donato is the subject of 10 disclosures dating back to 2001. The most recent, on 12/11/2018, is a FINRA regulatory action in which he failed to respond to a request for information from FINRA. He was notified by letter of his suspension on 3/14/2019, and failed to request a termination of his suspension by the three month deadline. FINRA barred Donato indefinitely in all capacities effective 3/14/2019.Scott J. Donato (CRD#: 2336331) is a former registered broker and investment advisor who was last employed with Morgan Stanley (CRD#:149777) of Miami, FL, until 2017. He previously worked for two different Morgan Stanley companies, (CRD#: 8209 and 7556) since 1993. No current employment information is available.

Scott Donato is the subject of 10 disclosures dating back to 2001. The most recent, on 12/11/2018, is a FINRA regulatory action in which he failed to respond to a request for information from FINRA. He was notified by letter of his suspension on 3/14/2019, and failed to request a termination of his suspension by the three month deadline. FINRA barred Donato indefinitely in all capacities effective 3/14/2019. Continue reading ›

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Almost 37,000 consumers are left paying $6.3 million in monthly premiums for insurance plans with Simple Health Plans LLC. The Federal Trade Commission is working on permanently closing the company. However, until a federal judge keeps the company permanently closed, the consumers still need to pay. Simple Health has been shut down since October 31 when it was served a temporary restraining order. The FTC is accusing the health insurance company of running a huge scam that convinced thousands of consumers into thinking they were buying high quality health insurance policies. They were led to believe that the health insurance they were buying would cover things like hospital stays, visits to primary care physicians and specialists, and prescription drugs. In actuality, Simple Health LLC sold their consumers a package of discount plans and limited-benefit hospital coverage that only paid a maximum of $3,200 a year. Simple Health's co-founder Steven J Dorfman and his affiliated companies made more than $150 million since 2013.Almost 37,000 consumers are left paying $6.3 million in monthly premiums for insurance plans with Simple Health Plans LLC. The Federal Trade Commission is working on permanently closing the company. However, until a federal judge keeps the company permanently closed, the consumers still need to pay.

Simple Health has been shut down since October 31 when it was served a temporary restraining order. The FTC is accusing the health insurance company of running a huge scam that convinced thousands of consumers into thinking they were buying high quality health insurance policies. They were led to believe that the health insurance they were buying would cover things like hospital stays, visits to primary care physicians and specialists, and prescription drugs. In actuality, Simple Health LLC sold their consumers a package of discount plans and limited-benefit hospital coverage that only paid a maximum of $3,200 a year. Simple Health’s co-founder Steven J Dorfman and his affiliated companies made more than $150 million since 2013. Continue reading ›

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Gavelsmall-2-300x200Suitability for Retail Customers

FINRA rule 2111 ensures that firms and people associated with firms deal with customers fairly. The rule is composed of three main parts: reasonable basis suitability, customer-specific suitability, and quantitative suitability. FINRA will observe unsuitable recommendations to retail investors and also deficiencies in some firms; supervisory systems.

In the past, FINRA has observed situations where customers’ financial needs were not considered. Registered representatives failed to think about cumulative fees, sales charges, and commissions. Failure to understand the specific features and terms of products recommended to customers was a common contributor to the problems that FINRA observed. Continue reading ›

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Silver Law Group is investigating Wellington, Florida based company Winfield Capital Partners, LP and its principals, Richard W. Hartnett and Taryn E. Hartnett. Winfield Capital Partners is an investment fund managed by Winfield Capital GP LLC. Winfield Capital Partners began soliciting investors in or around 2016 after it filed a Form D with the Securities and Exchange Commission (SEC). According to Winfield Capital Partners’ filed Form D, the fund sought to raise approximately $55 million in investor funds. Silver Law Group is investigating Wellington, Florida based company Winfield Capital Partners, LP and its principals, Richard W. Hartnett and Taryn E. Hartnett.

Winfield Capital Partners and Winfield Capital GP

Winfield Capital Partners is an investment fund managed by Winfield Capital GP LLC. Winfield Capital Partners began soliciting investors in or around 2016 after it filed a Form D with the Securities and Exchange Commission (SEC). According to Winfield Capital Partners’ filed Form D, the fund sought to raise approximately $55 million in investor funds. Continue reading ›

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