tag:blogger.com,1999:blog-75400162021013047442024-08-28T21:34:28.276-04:00Law Office of Peter M. Spett<a href="http://spettlaw.com">Representing Clients in Florida, New York and Nationwide in business litigation and securities arbitrations before the Financial Industry Regulatory Authority (FINRA), which regulates securities firms doing business in the United States.</a>
Anonymoushttp://www.blogger.com/profile/12482899426901303055noreply@blogger.comBlogger23125tag:blogger.com,1999:blog-7540016202101304744.post-6392313642387250002018-10-03T18:13:00.000-04:002018-10-03T18:13:12.637-04:00Geneos Broker Barred For Not Cooperating With FINRA Investigation
Bradley Joseph
Tennison (CRD#: 1561988), who is a previous registered representative of Geneos
Wealth Management, Inc., consented to Financial Industry Regulatory Authority
(“FINRA”) barring him in all capacities according to Tennison’s submission of a
Letter of Acceptance, Waiver and Consent No. 2018058302101, accepted by FINRA
on July 2, 2018. FINRA stated that Tennison failed to comply with Peter M. Spett, Esq.http://www.blogger.com/profile/15967263713030953080noreply@blogger.com0tag:blogger.com,1999:blog-7540016202101304744.post-57239842288814953422018-10-03T18:10:00.000-04:002018-10-03T18:10:20.274-04:00Independent Financial Group Rep Barred For Unsuitable Sales
Kyusun Kim (CRD
#: 2864085), who is a previous registered representative of Independent
Financial Group, LLC (San Diego, California) consented to Financial Industry
Regulatory Authority (“FINRA”) barring him in all capacities according to Kim’s
submission of a Letter of Acceptance, Waiver and Consent #: 2017052705001,
accepted by FINRA on June 6, 2018. Kim was found liable for making unsuitablePeter M. Spett, Esq.http://www.blogger.com/profile/15967263713030953080noreply@blogger.com0tag:blogger.com,1999:blog-7540016202101304744.post-1690507519738996842018-10-03T18:08:00.000-04:002018-10-03T18:08:28.187-04:00Laidlaw & Company Customer Alleges Excessive Trading
Craig Aaron Bonn
(CRD #: 2280460), who was previously a registered representative of Laidlaw
& Company (UK) Ltd. located in New York New York, has disclosed on Financial
Industry Regulatory Authority (“FINRA”) BrokerCheck that a Laidlaw customer
filed FINRA Arbitration #18-02628 on August 29, 2018, alleging excessive
trading and unsuitability.
Bonn’s
BrokerCheck records show that the Peter M. Spett, Esq.http://www.blogger.com/profile/15967263713030953080noreply@blogger.com0tag:blogger.com,1999:blog-7540016202101304744.post-61939557574828504552018-10-03T18:05:00.000-04:002018-10-03T18:05:16.957-04:00Ameriprise’s Michael Dellaporta Terminated For Unauthorized Trading
Michael Joseph Dellaporta Jr. (CRD #: 500214), who previously was a
registered representative of Ameriprise Financial Services, Inc. in Fort
Lauderdale, Florida (September 10, 2010 to June 23, 2015), has divulged through
Financial Industry Regulatory Authority (“FINRA”) BrokerCheck that Ameriprise
discharged him as a result of Dellaporta’s failure to follow Ameriprise’s
policies relating to Peter M. Spett, Esq.http://www.blogger.com/profile/15967263713030953080noreply@blogger.com0tag:blogger.com,1999:blog-7540016202101304744.post-57460040490807963522018-09-27T14:35:00.001-04:002018-09-27T14:40:00.528-04:00SunTrust Settles Customers' Claims Of Unauthorized Trading
Daniel Antonio
Pacheco (CRD#: 5278626), who was a prior financial advisor of SunTrust
Investment Services, Inc. in Hollywood, Florida from January 19, 2016 to April
14, 2016, has disclosed on Financial Industry Regulatory Authority
(“FINRA”) BrokerCheck that a customer filed a FINRA Arbitration #17-02124 on
September 13, 2017, asserting a claim against Pacheco of unsuitability.
The customer Peter M. Spett, Esq.http://www.blogger.com/profile/15967263713030953080noreply@blogger.com0tag:blogger.com,1999:blog-7540016202101304744.post-89927527378909147092018-09-27T12:25:00.001-04:002018-09-27T12:26:55.020-04:00SEC Alleges Morgan Stanley Advisers Committed Securities Fraud
The Securities
and Exchange Commission (“SEC”) filed a Complaint in the United States District
Court for the District of Massachusetts, charging James S. Polese (CRD #:2636427)
and Cornelius Peterson (CRD #: 5769919), both prior investment advisers of
Morgan Stanley in Boston, Massachusetts, with defrauding several customers and stealing their assets. The
Securities and Exchange Commission vs. Peter M. Spett, Esq.http://www.blogger.com/profile/15967263713030953080noreply@blogger.com0tag:blogger.com,1999:blog-7540016202101304744.post-79661289748786907842018-09-25T20:18:00.000-04:002018-09-25T20:19:17.954-04:00Customers Allege Oppenheimer Committed Fraud
Gregory Baines Iglow (CRD#:
2783963), who has been a registered representative of Oppenheimer & Co.
Inc. (Los Angeles, California), disclosed on Financial Industry Regulatory
Authority (“FINRA”) BrokerCheck that he is referenced in a July 11, 2018 FINRA arbitration
#18-02493. The Oppenheimer customer raised allegations of negligent
supervision, breach of fiduciary duty, breach of contract, Peter M. Spett, Esq.http://www.blogger.com/profile/15967263713030953080noreply@blogger.comtag:blogger.com,1999:blog-7540016202101304744.post-30545650290132693062018-09-18T20:45:00.001-04:002018-09-18T20:45:57.655-04:00Customer Files Suit Against Paulson Investment Company For Securities Fraud
Michael Patrick
Nixon (CRD# 2169631), who has been a registered representative of both Newport Coast
Securities, Inc. (Leesburg, VA) and Paulson Investment Company, LLC (Tampa, FL),
disclosed on Financial Industry Regulatory Authority (“FINRA”) BrokerCheck that
he is named in a July 9, 2018 FINRA Arbitration #18-02421 where several customers
alleged that Nixon committed securities fraud. The Peter M. Spett, Esq.http://www.blogger.com/profile/15967263713030953080noreply@blogger.com0tag:blogger.com,1999:blog-7540016202101304744.post-7630742316955421862018-09-10T21:39:00.000-04:002018-09-10T21:39:01.288-04:00Morgan Stanley Broker Terminated For Alleged Outside Business Activities
Michael Schuchman
(CRD :# 4437315), who was registered as a general securities representative of
Morgan Stanley between June 1, 2009 and June 14, 2018, has voluntarily resigned
based on allegations made by Morgan Stanley concerning Schuchman’s possible
engagement in outside business activities without notifying the firm as
required by the firm’s policies.
FINRA BrokerCheck
disclosed that Peter M. Spett, Esq.http://www.blogger.com/profile/15967263713030953080noreply@blogger.com0tag:blogger.com,1999:blog-7540016202101304744.post-33439230714848636352018-09-04T17:03:00.000-04:002018-09-04T17:03:48.250-04:00Wells Fargo’s Laura Cava Barred For Disregarding FINRA RequestsLaura Ann Cava (CRD
#: 5092233) has been a registered representative of Wells Fargo Clearing
Services, LLC (Lehigh Acres, Florida) between April 11, 2006 and May 5, 2017. Financial
Industry Regulatory Authority (“FINRA”) barred Cava in all capacities on
October 23, 2017, citing allegations that Cava failed to respond to FINRA’s
request for information. FINRA may have been inquiring into Cava’s Peter M. Spett, Esq.http://www.blogger.com/profile/15967263713030953080noreply@blogger.com0tag:blogger.com,1999:blog-7540016202101304744.post-52200560108857511712018-09-04T17:00:00.001-04:002018-09-04T17:00:10.756-04:00Merrill Lynch Customers Sue Over Unsuitable Puerto Rican BondsJose E. Gonzalez Pumarada (CRD #: 1571751) is a general securities
representative of Merrill Lynch, Pierce, Fenner & Smith Incorporated (Guaynabo,
Puerto Rico). FINRA BrokerCheck
disclosed that Pumarada is subject of a pending consumer-initiated,
investment-related arbitration from October 19, 2017 containing allegations
against Pumarada of sales practice violations. The Merrill Lynch Peter M. Spett, Esq.http://www.blogger.com/profile/15967263713030953080noreply@blogger.com0tag:blogger.com,1999:blog-7540016202101304744.post-91276762929552717832018-09-04T16:56:00.001-04:002018-09-04T16:56:50.222-04:00Customer Alleges National Planning Corporation Provided Poor AdviceNancy Ellen Biddle (CRD #: 2134532) is a general securities representative
who was registered with National Planning Corporation (St. Pete Beach, Florida)
between June 19, 2006 and October 24, 2017. FINRA BrokerCheck discloses that
Biddle has been subject of consumer-initiated,
investment-related complaint from March 17, 2017 containing allegations against
Biddle of poor investment advice while Peter M. Spett, Esq.http://www.blogger.com/profile/15967263713030953080noreply@blogger.com0tag:blogger.com,1999:blog-7540016202101304744.post-26266451066270883642018-08-20T17:44:00.002-04:002018-08-20T20:24:11.506-04:00Advisor Group Firms Fined For Failure To Supervise Annuity Sales
The Advisor Group Firms (FSC Securities Corporation,
SagePoint Financial, Inc., Royal Alliance Associates, Inc. and Woodbury
Financial Services, Inc.) consented to being fined and censured by Financial
Industry Regulatory Authority (FINRA) according to their submission of a Letter
of Acceptance, Waiver and Consent #: 2016047636601, accepted by FINRA on July
24, 2018. FINRA found that the Peter M. Spett, Esq.http://www.blogger.com/profile/15967263713030953080noreply@blogger.com0tag:blogger.com,1999:blog-7540016202101304744.post-66593138126087164772018-08-20T17:42:00.002-04:002018-08-20T20:23:57.427-04:00Morgan Stanley Allegedly Fails To Follow Investment Guidelines
Jack Ezra Kolker (CRD
#: 1220600) is a prior Morgan Stanley general securities representative who
disclosed a consumer-initiated, investment-related complaint from January 20, 2017.
The complaint contained allegations that from December 2015 to December of
2016, investment guidelines and other instructions were not followed in
reference to the Morgan Stanley customer’s stock and municipal debt
Peter M. Spett, Esq.http://www.blogger.com/profile/15967263713030953080noreply@blogger.com0tag:blogger.com,1999:blog-7540016202101304744.post-54538461947325984512018-08-16T12:03:00.000-04:002018-08-16T12:08:37.169-04:00Morgan Stanley’s Lloyd Layton Fined For Unsuitable UIT TradingLloyd Thomas Layton
(CRD #: 1618414) is a prior Morgan Stanley registered representative (2009 –
2015) who consented to Financial Industry Regulatory Authority (FINRA) fining
him $5,000.00 and suspending him from having any association with a FINRA
member firm in all capacities for three months according to Layton’s submission
of Letter of Acceptance, Waiver and Consent #: 2017055691701, acceptedPeter M. Spett, Esq.http://www.blogger.com/profile/15967263713030953080noreply@blogger.com0tag:blogger.com,1999:blog-7540016202101304744.post-51632513373538499802018-08-13T19:53:00.002-04:002018-08-15T20:21:46.521-04:00UBS Sued For Unsuitable Investment Recommendations
David Richard Watkins (CRD #: 1043375) is a UBS Financial Services
Inc. financial advisor (2004 – present) who disclosed a consumer-initiated, investment-related
complaint from August 14, 2017 containing allegations that Watkins made
unsuitable investment recommendations. The customer specifically alleged to have
been poorly advised between May 2013 and October 2016 about the purchasing and
Peter M. Spett, Esq.http://www.blogger.com/profile/15967263713030953080noreply@blogger.com0tag:blogger.com,1999:blog-7540016202101304744.post-63359139811758440432018-08-10T17:30:00.000-04:002018-08-10T19:06:57.378-04:00Investors Sue Janney Montgomery Scott For Unsuitability
Charles James Euler Jr. (CRD #: 202696) is a financial
advisor who disclosed a consumer-initiated, investment-related complaint from
June 4, 2018 containing allegations against Euler of recommending unsuitable over-the-counter
equities to the investor while registered with Janney Montgomery Scott LLC
(Radnor, Pennsylvania), resulting in the investor’s account having been
over-concentrated in Peter M. Spett, Esq.http://www.blogger.com/profile/15967263713030953080noreply@blogger.comtag:blogger.com,1999:blog-7540016202101304744.post-8434952349441794052018-08-09T10:08:00.000-04:002018-08-09T14:10:22.879-04:00Customer Lodges Dispute Against Dakota Securities For Investment Losses
Thomas Patrick Beattie (CRD#: 1321866) is a general
securities representative who disclosed a pending consumer-initiated,
investment-related complaint from April 16, 2018 containing allegations against
Beattie of committing sales practice violations while registered with CP
Capital Securities (Miami, Florida) and Dakota Securities International, Inc.
(Miami, Florida), which caused the customer Peter M. Spett, Esq.http://www.blogger.com/profile/15967263713030953080noreply@blogger.comtag:blogger.com,1999:blog-7540016202101304744.post-41625227996942718212018-05-10T10:29:00.002-04:002018-05-10T10:29:49.307-04:00Fifth Third Securities Unsuitable Variable Annuity Exchanges The Law Office of Peter M. Spett is investigating customer complaints against Fifth Third Securities for unsuitable variable annuity exchanges. The Financial Industry Regulatory Authority recently sanctioned Fifth Third Securities $6 Million for cost and fee disclosure failures and unsuitable recommendations related to variable annuity exchanges. Variable annuities are complex Anonymoushttp://www.blogger.com/profile/12482899426901303055noreply@blogger.com0tag:blogger.com,1999:blog-7540016202101304744.post-81540717584606318602017-01-20T10:04:00.000-05:002017-01-22T14:52:21.306-05:00Broker Investigation: Barry Connell and Jeffrey Crystal of Morgan StanleyThe investment loss recovery attorney, Peter M. Spett, Esq., is investigating financial fraud charges against Barry Connell, a broker formerly employed by Morgan Stanley out of its Ridgewood, NJ branch office. In November 2016, Mr. Connell was discharged after Morgan Stanley began probing charges that he had stolen money from an elderly client's household accounts. Other customers Anonymoushttp://www.blogger.com/profile/12482899426901303055noreply@blogger.com0tag:blogger.com,1999:blog-7540016202101304744.post-14628011681108957962013-04-11T17:31:00.003-04:002013-04-11T17:31:33.639-04:00FINRA Accuses Success Trade Securities of Massive FraudFINRA has accused Success Trade Securities of being involved in an alleged Ponzi scheme involving professional athletes, among others. "The Financial Industry Regulatory Authority (FINRA) has accused Success Trade Securities and it’s owner, Fuad Ahmed, of lying about key facts surrounding investments secured by 58 clients. FINRA did not release the names of the athletes ensnared in the scamAnonymoushttp://www.blogger.com/profile/12482899426901303055noreply@blogger.com0tag:blogger.com,1999:blog-7540016202101304744.post-14555971243238029112013-03-22T16:32:00.000-04:002013-03-22T16:37:46.388-04:00Lack of Supervision at LPL FinancialThe New York Times had a front page article in its March 21, 2013 edition concerning the rise of non-traditional brokerage firms and their lack of supervision over their financial advisors. These new independent brokerage firms are coming under increased scrutiny by securities regulators because the stockbrokers associated with them act more like contractors than employees. This Anonymoushttp://www.blogger.com/profile/12482899426901303055noreply@blogger.com0tag:blogger.com,1999:blog-7540016202101304744.post-447383732890551322013-03-22T16:16:00.000-04:002017-01-22T14:53:10.578-05:00Helpful Investor ResourcesWelcome to my blog page. In this blog, my goal is to provide news and information on recent developments concerning investor rights and recovery of losses due to various kinds of misdeeds by financial advisors and brokerage firms. My law office concentrates in representing investors who have lost their savings because of securities fraud and stockbroker misconduct.
In addition Anonymoushttp://www.blogger.com/profile/12482899426901303055noreply@blogger.com1