On 1/12/18, FINRA fined three broker-dealer firms and an individual member $187,500 for municipal securities rule violations, including improper charges, trade reporting violations, supervisory failures, and unsuitable recommendations. Davenport & Co., George K. Baum & Co., Cantor Fitzgerald & Co., along with Todd Kimm were all fined by FINRA. Kimm was alleged to be involved in short term trading of municipal bonds and without admitting or denying the allegations a FINRA AWC was entered in January 2018, he was employed by Merrill Lynch (until 2014) and Commonwealth Financial Network (2014-2017) in Syracuse, New York. See: FINRA website and FINRA Brokercheck. If you are an investor who suffered losses due to unsuitable recommendations, supervisory failures, or due to any other issues with Davenport & Co., George K. Baum & Co., Cantor Fitgerald & Co., Kimm, Merrill Lynch or Commonwealth Financial Network, or if you have other issues or questions related to the handling of your investment portfolio please call the Investment Loss Recovery Group at 1-800-856-3352 for a no-cost consultation and review, handling cases nationwide.- On 1/5/18, InvestmentNews.com reported that New York based Meyers Associates was fined by FINRA $700,000 and its principal Bruce Meyers was barred from serving as a principal or supervisor and individually fined $75,000 for having sent misleading sales literature by email and failing to properly supervise preparation of the firm’s books and records. Meyers Associates is now known as Windsor Street Capital. The firm appears to have a history described by some as troubling as it includes thirty-six total disclosures along with sixteen final disciplinary actions since 2000 and fines totaling $390,000 as a result of the actions including those related to supervisory failures, etc. See FINRA Brokercheck. If you are an investor who suffered losses with Meyers Associates (now Windsor Street Capital), or if you have other issues or questions related to the handling of your investment portfolio please call the Investment Loss Recovery Group at 1-800-856-3352 for a no-cost consultation and review, handling cases nationwide.
- On 1/16/18, WalletHub reported that a comparison of all fifty states across forty-one key metrics revealed the top five states to retire include: Florida, Colorado, South Dakota, Iowa, and Virginia. If you are an investor who suffered losses or if you are a retiree or near-retiree and you have other issues or questions related to the handling of your investment portfolio please call the Investment Loss Recovery Group at 1-800-856-3352 for a no-cost consultation and review, handling cases nationwide.
- Luigi Mancuso, a financial consultant who is most recently registered with David A. Noyes & Co. (2015-present) in Lake Forest, Illinois, and previously registered with Oppenheimer & Co. (2012-2015) in Lake Forest, Illinois, appears to be the subject of one or more customer complaints alleging unsuitable investments, unauthorized trading, and issues related to alleged discretion being taken without written customer authorization. A regulatory AWC was entered by FINRA in October 2017. See FINRA brokercheck. If you are an investor who suffered losses with Mancuso, or David A. Noyes & Co., Oppenheimer & Co., relating to any unsuitable investment recommendations, unauthorized trading and/or the handling of your investment portfolio please call the Investment Loss Recovery Group at 1-800-856-3352 for a no-cost consultation and review, handling cases nationwide.
- John M. James was registered with Merrill Lynch (2006-2016) in Wayzata, Minnesota, and with Stifel Nicolaus & Co. (2016) in Golden Valley, Minnesota, appears to be the subject of one or more customer complaints alleging unsuitable recommendations, misrepresentation, and/or lack of supervision regarding investment recommendations which may have included collateralized mortgage obligations (CMOs), and appears to have been barred after not admitting or denying the allegations in a FINRA AWC in December 2017 related to an alleged undisclosed outside business activity, private investment, and/or borrowing from a client. See FINRA brokercheck. If you are an investor who suffered losses with James, Merrill Lynch, or Stifel Nicholaus & Co. relating to any unsuitable investment recommendations and/or the handling of your investment portfolio please call the Investment Loss Recovery Group at 1-800-856-3352 for a no-cost consultation and review, handling cases nationwide.
- On 1/17/18, InvestmentNews.com reported that a former representative of Investor’s Capital in Brick, New Jersey, Matthew Peregoy, failed to take part in a FINRA hearing related to his possible misuse of client funds. See: FINRA Brokercheck as well as Investmentnews.com. It also appears Peregoy also had one or more judgments or tax lien issues disclosed as well. FINRA entered an AWC in January 2018. If you are an investor who suffered losses with Peregoy, or Investor’s Capital, relating to the misuse of funds, or if you have other issues or questions related to the handling of your investment portfolio please call the Investment Loss Recovery Group at 1-800-856-3352 for a no-cost consultation and review, handling cases nationwide.
- On 1/17/18, FinancialPlanning.com reported that a FINRA hearing panel barred a former Wells Fargo advisor for stealing $143,000 from a joint brokerage account he held with a client who was his half-brother. Jeffrey Krupnick, according to the evidence, appears to have treated his half-brother’s joint account as if it were his personal bank account according to the FINRA panel’s recent decision. Jeffrey Krupnick was employed by Wells Fargo in the Sarasota, Florida branch office, and employed by Wells Fargo between 2009-2014, until he voluntarily resigned. After that he was employed by JHS Capital Advisors, LLC (2015) in Sarasota, Florida, and then with Ameriprise (2015-2017) in Sarasota, Florida. See: FINRA Brokercheck as well as FinancialPlanning.com. In October 2017, Krupnick was permitted to resign from Ameriprise after it appears that he failed to appear at a FINRA hearing. If you are an investor who suffered losses with Krupnick, or Wells Fargo, relating to the misuse of funds, or if you have other issues or questions related to the handling of your investment portfolio please call the Investment Loss Recovery Group at 1-800-856-3352 for a no-cost consultation and review, handling cases nationwide.
- Keith Michelfelder, a financial consultant most recently with National Securities Corporation in New York, New York, and previously registered with Aegis Capital Corp. in New York, New York, appears to be the subject of one or more customer complaints as well as the subject of an August 2017 FINRA sanction for allegedly taking discretion and executing transactions in customer accounts without prior written authorization and his FINRA registration appears to have been revoked in November 2017 after his failure to pay a fine. See FINRA brokercheck. It also appears that Michelfelder had one or more tax liens or judgments as well. If you are an investor who suffered losses with Michelfelder, National Securities Corporation, or Aegis Capital Corp. relating to any unauthorized trades, or the handling of your investment portfolio please call the Investment Loss Recovery Group at 1-800-856-3352 for a no-cost consultation and review, handling cases nationwide.
- Brian Royster, of Ann Arbor, Michigan, a financial consultant who is most recently registered with H.D. Vest Investment Services and previously registered with LPL Financial and Edward Jones was barred in November 2017 by FINRA for allegations relating to purported borrowing of funds from a client. There appear to be one or more customer complaints involving Royster, who was permitted to resign by H.D. Vest in January 2017 after previously being registered with LPL Financial and Edward Jones also in Ann Arbor, Michigan. See FINRA brokercheck. If you are an investor who suffered losses with Royster, or H.D. Vest, LPL Financial, or Edward Jones, relating to any borrowing of customer funds, or the handling of your investment portfolio please call the Investment Loss Recovery Group at 1-800-856-3352 for a no-cost consultation and review, handling cases nationwide.
- On 1/16/18, a FINRA award against Wells Fargo Clearing Services LLC awarded Claimants approximately $50,000, plus interest, costs, and attorney’s fees related to Claimants investments in oil and gas securities including: Linn Energy, Sandridge Energy, Swift Energy, Breitburn Energy, as well as real estate investment trusts (REITs) including Armour Residential REIT, Inc., Resource Capital Corp., and other securities. See: FINRA website. If you are an investor who has suffered losses due to oil and gas securities, junk bonds, MLPs, limited partnerships, REITs, or specifically in Linn Energy, Sandridge Energy, Swift Energy, Breitburn Energy, REITs (including, but not limited to: Armour Residential REIT, Inc., or Resource Capital Corp., with Wells Fargo Clearing, or if you have other issues or questions related to the handling of your investment portfolio please call the Investment Loss Recovery Group at 1-800-856-3352 for a no-cost consultation and review, handling cases nationwide.
On 1/12/18, FINRA fined three broker-dealer firms and an individual member $187,500 for municipal securities rule violations, including improper charges, trade reporting violations, supervisory failures, and unsuitable recommendations. Davenport & Co., George K. Baum & Co., Cantor Fitzgerald & Co., along with Todd Kimm were all fined by FINRA. Kimm was alleged to be involved in short term trading of municipal bonds and without admitting or denying the allegations a FINRA AWC was entered in January 2018, he was employed by Merrill Lynch (until 2014) and Commonwealth Financial Network (2014-2017) in Syracuse, New York. See: FINRA website and FINRA Brokercheck. If you are an investor who suffered losses due to unsuitable recommendations, supervisory failures, or due to any other issues with Davenport & Co., George K. Baum & Co., Cantor Fitgerald & Co., Kimm, Merrill Lynch or Commonwealth Financial Network, or if you have other issues or questions related to the handling of your investment portfolio please call the Investment Loss Recovery Group at 1-800-856-3352 for a no-cost consultation and review, handling cases nationwide.