FINRA

Darnell Deans Fails to Pay FINRA Fines As Agreed, Is Permanently Barred

August 10, 2016 | Silver Law Group

Darnell Deans Fails to Pay FINRA Fines As Agreed, Is Permanently Barred on silverlaw.com

Broker is also accused of failure to disclose unsatisfied tax liens in excess of $250,000 and borrowing $266,000 from firm customers without consent.

Darnell Deans, most recently registered with Blackbook Capital, LLC in New York, is once again in hot water with FINRA.

A new disclosure on his BrokerCheck record shows that he allegedly failed to pay fines and/or costs of $10,000 in FINRA Case #2012030677101. In February 2015, a FINRA complaint was filed against Deans, alleging the following:

Carlton E. Burton’s Short Brokerage Career Ends in Permanent Bar by FINRA

August 9, 2016 | Silver Law Group

Carlton E. Burton’s Short Brokerage Career Ends in Permanent Bar by FINRA on silverlaw.com

Florida-based broker allegedly misappropriated funds while associated with two different member firms.

Carlton E. Burton passed his Series 7 General Securities Representative Exam in October 2014. He passed his Series 66 Uniform Combined State Law Examination in June 2015. And in February 2016, Burton was permanently barred from associating with any FINRA member in any capacity.

The FINRA action results from Burton’s refusal to respond to FINRA’s request for documents and information during an investigation into allegations that he misappropriated assets from the investment advisory firm where he worked.

Broker Ricardo Broome Permanently Barred From FINRA

August 8, 2016 | Silver Law Group

Broker Ricardo Broome Permanently Barred From FINRA on silverlaw.com

Allegations of unauthorized trading and unauthorized use of margin, along with failure to respond, drive FINRA decision

Multiple customer disputes and tax liens line Ricardo A. Broome’s FINRA-generated BrokerCheck report. Most recently, allegations against Broome include unauthorized trading and unauthorized use of margin. Damages granted in customer disputes against Broome in his 12 years in the securities industry equal almost $50,000.

Tax liens and/or judgments against Broome during the same time period equal almost $40,000. Ultimately, however, Broome failed to respond to a FINRA request for information in late 2015, and as a result, FINRA permanently barred him from acting as a broker or otherwise associating with firms that sell securities to the public.

Michigan-based Broker Merid Amde Suspended and Fined $20,000 By FINRA

August 5, 2016 | Silver Law Group

Michigan-based Broker Merid Amde Suspended and Fined $20,000 By FINRA on silverlaw.com

Allegations include violation of firm policy, unsuitability, excessive trading, unsolicited trade confirmations, among others.

During a 27-year career in the securities industry, Michigan broker Merid Amde has a total of six disclosure events listed on his BrokerCheck record. The most recent disclosure event landed the broker with a 3-month suspension from association with any FINRA member in all capacities and a fine of $20,000.

A closer look at the allegations listed on the most recent settlement agreement indicates the following:

South Florida Broker Giovanni Acevedo Accused of Converting Funds and Providing False Information to FINRA

August 5, 2016 | Silver Law Group

South Florida Broker Giovanni Acevedo Accused of Converting Funds and Providing False Information to FINRA on silverlaw.com

Voya Financial Advisors, Inc. discharges Acevedo and FINRA permanently bars him as a result of alleged misconduct

Not only is former ING Financial Partners, Inc (now known as Voya Financial Advisors, Inc.) broker Giovanni Acevedo accused of converting over $160,000 in customer funds for his own personal use, he is also accused of lying to FINRA investigators when questioned about the related customer complaints.

According to FINRA, Acevedo made recommendations to three separate customers and took actions as follows:

LPL Financial Broker Eugene Smietana Discharged from Firm and Permanently Barred by FINRA

March 21, 2016 | Silver Law Group

LPL Financial Broker Eugene Smietana Discharged from Firm and Permanently Barred by FINRA on silverlaw.com

Have you invested funds with Eugene Smietana?

For investors who may have utilized the services of LPL Financial LLC broker Eugene Smietana out of Traverse City, Michigan, may have potential claims against LLP.

As of September 2015, FINRA has permanently barred Smietana from acting as a broker or otherwise associating with firms that sell securities to the public.

Morgan Stanley Discharges and FINRA Permanently Bars Broker Samuel Wylie Sloane

March 17, 2016 | Silver Law Group

Morgan Stanley Discharges and FINRA Permanently Bars Broker Samuel Wylie Sloane on silverlaw.com

Broker accused of taking $1.8M in trust assets while serving as a trustee.

Samuel Wylie Sloane’s 15-year career in the securities industry ended abruptly in December 2015 when FINRA permanently barred him from acting as a broker or otherwise associating with firms that sell securities to the public.

According to the disciplinary action document in Sloane’s FINRA BrokerCheck record, the broker refused to respond to FINRA’s request for documents and information during an investigation. The investigation was initiated following allegations that Sloane converted a customer’s trust assets while serving as a trustee.

Broker Li Lin Hsu Suspended by Request of FINRA

March 16, 2016 | Silver Law Group

Broker Li Lin Hsu Suspended by Request of FINRA on silverlaw.com

Sales practice violations, misconduct and failure to respond to a FINRA request for information lead to suspension

Formerly registered with Ameriprise Financial in California, ex-broker Li-Line Hsu was recently suspended by the Financial Industry Regulatory Authority (FINRA). He was suspended under Rule 9552 which was failure to keep information current or to provide information.

Individuals who are subject to FINRA’s jurisdiction are responsible for providing testimony, data, reports, materials or information that has to be filed with the government agency. Individuals also responsible for keeping their supporting documents and membership applications current.

Broker Justin Amaral Permanently Barred from Securities Industry

October 15, 2015 | Silver Law Group

Failure to provide on-the-record testimony to FINRA results in disciplinary action

After termination from employment with Morgan Stanley in 2014 following allegations surrounding his status as an executor and beneficiary in a client’s estate and his use of discretion in several client accounts, broker Justin Amaral has been permanently barred from the securities industry by FINRA.

According to Amaral’s BrokerCheck record, as of June 2015 the Boston-based broker’s 12 years in the securities industry has ended as a result of his failure to appear for an on-the-record testimony requested by FINRA during the course of an investigation. The requested testimony may be related to the reasons Morgan Stanley terminated Amaral’s employment.

Giovanni Acevedo, of Voya Financial Advisors, Inc., Accused of Converting Funds

August 4, 2015 | Silver Law Group

Disciplinary action pending against Wilton Manors, FL financial advisor

Giovanni Acevedo could be facing disciplinary action from FINRA after a complaint that he allegedly converted more than $160,000 in customer funds. According to the report, he allegedly told a customer he would invest a $68,000 check she wrote to the company according to her instructions. He allegedly told her to leave 21 blank signed checks with him, resulting in a total of $145,848.42 converted to what is purported to be his own personal account or one of which he is a beneficiary, according to FINRA.

The official complaint, which was filed on April 8, asks that upon the conclusion that the allegations are proven as fact Acevedo be subject to sanctions according to FINRA Rule 8310, namely disgorgement, but the FINRA manual also allows for suspension or expulsion of a member’s registration.