FINRA

Wells Fargo Broker Wonnie Lynn Short Permanently Barred by FINRA

November 7, 2016 | Silver Law Group

Wells Fargo Broker Wonnie Lynn Short Permanently Barred by FINRA on silverlaw.com

Allegations against the Nashville broker include failure, as executor of client’s estate, to provide a charitable foundation with its due proceeds

The Financial Industry Regulatory Authority (FINRA) has barred Wonnie Short permanently from acting as a broker or otherwise associating with firms that sell securities to the public. While registered with Wells Fargo in Nashville, TN, Short is reported to have been named executor of a client’s estate. In fact, according to FINRA, Short was to receive two-fifths of the client’s residuary estate.

However, according the same FINRA report, Short’s client designated that 90% of her annuity – valued at the time of her death at $102,000 – would go to a local charitable foundation, and the remaining 10% would go to her estate. As the executor of the estate, Short allegedly received full payment from the annuity, yet did not ensure that the charitable foundation received its portion, valued at approximately $92,000.

FINRA Suspended Broker Edward R. Segur

November 7, 2016 | Silver Law Group

FINRA Suspended Broker Edward R. Segur on silverlaw.com

Allegations against the New York broker include placing orders without a customer’s consent

According to the Financial Industry Regulatory Authority (FINRA), New York broker Edward R. Segur III is alleged to have opened and traded funds in an outside account opened in his wife’s name, in violation of his firm’s written supervisory procedures (WSPs), and to have accepted orders from a customer’s husband without the customer’s consent. Segur was suspended for 30 days, which ended on July 19th, 2016.

Segur currently works at Fordham Financial Management, Inc., where he has been registered since April 2015. Previously, he was employed at Four Points Capital Partners (Nov. to May 2015), Blackwell Capital Markets, Inc. (Oct. 2012 to Nov. 2013), and Rockwell Global Capital, LLC (Apr. 2012 to Oct. 2012), all in New York, among many other prior firms.

FINRA Permanently Bars Gary Eugene Donovan for Stock Manipulation

November 7, 2016 | Silver Law Group

FINRA Permanently Bars Gary Eugene Donovan for Stock Manipulation on silverlaw.com

Donovan was also discharged from SagePoint Financial in Newark, OH

The Financial Industry Regulatory Authority (FINRA) has permanently barred broker Gary Eugene Donovan from acting as a broker or otherwise associating with firms that sell securities to the public. Up until early 2016, Donovan worked as a broker for a number of brokerage firms around the U.S., most recently SagePoint Financial, Inc. in Newark, OH from October 2005 to January 2016.

Donovan was discharged from SagePoint when it was determined by the firm that he had failed to follow their policies covering the interaction of brokers and stock promoters, as well as the sale of unlisted securities relating to Mix 1 Life, Inc. (OTC: MIXX).

Former Clearwater, Florida Broker Under Investigation after FINRA Suspension for Unsuitable Recommendations

November 3, 2016 | Silver Law Group

Silver Law Group is investigating former Clearwater, Florida broker Dennis M. Merritt (CRD# 1748115) after FINRA suspended him for four months and his employing firm terminated him for alleged unsuitable recommendations among other things.

In March 2016, FINRA and Merritt entered into an order accepting offer of settlement (the “Order”). The Order accepted the punishment without admitting or denying the allegations in the Complaint.

The Complaint alleged that Merritt invested a total of $115,000 in a speculative investment without providing written notice to his member firm prior to participating in the private securities transactions.

FINRA Suspends Rafael Moreno for Not Disclosing Outside Business Activity

September 30, 2016 | Silver Law Group

FINRA Suspends Rafael Moreno for Not Disclosing Outside Business Activity on silverlaw.com

In addition to his 30-day suspension, the Florida broker was also fined

In April of this year, Rafael Moreno accepted the sanctions levied against him by the Financial Industry Regulatory Authority (FINRA) for charges related to conducting outside business activity. As a result, the broker was fined and suspended.

First registered with Donaldson, Lufkin & Jenrette Securities Corporation of Jersey City, NJ, Moreno has been employed with Mora Wealth Management LLC in Miami since October of 2012.

Apostolos Nicholas Papadea Fined and Suspended by FINRA

September 29, 2016 | Silver Law Group

Apostolos Nicholas Papadea Fined and Suspended by FINRA on silverlaw.com

Unauthorized trading was one of several charges

Apostolos Nicholas Papadea, who has worked in the brokerage industry since 1969, has come under scrutiny in recent years for a variety of alleged infractions, including making trades without permission from his clients. As a result, he has been fined and suspended by the Financial Industry Regulatory Authority (FINRA).

Papadea has worked for three different companies over the last 13 years, including Wachovia and Wells Fargo in Columbia, SC. Since January of this year, Papadea has been employed with Advisory Services Network in Atlanta, GA.

Broker William Hutchinson Barred by FINRA

September 28, 2016 | Silver Law Group

Broker William Hutchinson Barred by FINRA on silverlaw.com

After failing to respond to a request for information, William Hutchinson was suspended and is now barred from association

In January of 2016, the Financial Industry Regulatory Authority (FINRA) reached out to William Hutchinson to get information regarding complaints from some of his past clients. Because he did not respond, the agency suspended him. Hutchinson then had three months to request termination of that suspension, but he failed to do so and was automatically barred from association with any FINRA member.

First registered with Prudential Insurance in Newark, NJ, Hutchinson has been employed with J.P. Turner & Company in Montague, NJ, since May of 2011.

FINRA Has Filed a Complaint Against Broker Jeffrey Krupnick

September 21, 2016 | Silver Law Group

FINRA Has Filed a Complaint Against Broker Jeffrey Krupnick on silverlaw.com

The Sarasota, Florida broker is alleged to have improperly converted funds

The Financial Industry Regulatory Authority (FINRA) has filed a complaint against broker Jeffrey Krupnick, alleging that he converted a family member’s funds for personal use. The Sarasota broker has been working in the financial services industry for 15 years and had been employed by Ameriprise Financial Services in Sarasota since August of 2015.

He was also employed by Merrill Lynch, Pierce, Fenner and Smith in New York, New York from 2001 through 2004, Citigroup Global Markets in Venice, Florida from 2004 through 2008, Wells Fargo Advisors in Sarasota from 2008 through 2014, and JHS Capital Advisors in Sarasota from January through August 2015.

FINRA Suspends Broker Gregory Taylor

September 20, 2016 | Silver Law Group

FINRA Suspends Broker Gregory Taylor on silverlaw.com

This Morgan Stanley broker in Texas has been suspended by the Financial Industry Regulatory Authority

According to the Financial Industry Regulatory Authority (FINRA), Texas broker Gregory Taylor engaged in unethical conduct with an elderly customer who was suffering from dementia and he has subsequently been suspended.

Taylor’s career in the securities industry began in 1986 when he worked for Fidelity Brokerage Services in Smithfield, Rhode Island. Since then, he has been a member of various firms, including, most recently, Morgan Stanley in Dallas, Texas. He was also associated with Citigroup Global Markets in Salinas, California, E*Trade Securities in Palo Alto, California, and Charles Schwab and Company in Phoenix, Arizona.

Minnesota Broker Mark David Holt Barred by FINRA

September 20, 2016 | Silver Law Group

Minnesota Broker Mark David Holt Barred by FINRA on silverlaw.com

Holt has lost his license and been permanently barred by the regulatory agency

Mark D. Holt has lost his license and can no longer act as a broker or representative in the financial services industry. According to the Financial Industry Regulatory Authority (FINRA), Holt is the subject of 11 disclosures, several customer complaints, two criminal complaints, and one regulatory sanction.

His 14-year career included work for several firms, most recently with Harbour Investments in North Oaks, Minnesota from 2007 to 2013, and before that with Geneos Wealth Management in Shoreview, Minnesota from 2005 to 2007. He was also employed by Linsco/Private Ledger Corporation in Boston, Massachusetts from 2000 through 2005 and by Securities America in Lavista, Nebraska from 1999 through 2000.