Recent Posts in Unauthorized Trading Category
Posted on Apr 25, 2013 By Michael Edmiston
FINRA suspended supervisor Sean Placido Rodriguez of Glendale, California, fined him $10,000 and ordered disgorgement in the amount of $5,000, plus interest, for allegedly recommending and effecting ...
Continue reading "Sean Placido Rodriguez Suspended, Fined and Ordered to Pay Partial Restitution for Unauthorized Trading" »
Posted on Apr 2, 2013 By Michael Edmiston
FINRA barred former Banorte-Ixe Securities International, Ltd. principal Fernando Castaneda-Corral for allegedly making unauthorized trades in a customer's brokerage account and then providing the ...
Continue reading "Fernando Castaneda-Corral Barred for Unauthorized Trades, Providing False Account Statements to Conceal Misconduct" »
Posted on Mar 24, 2013 By Michael Edmiston
According to Nathaniel Popper of The New York Times, investment firm LPL Financial has ratcheted up a sequence of problems with multiple securities regulators LPL is not unique nor alone in its ...
Continue reading "LPL Financial Firm Under Fire and On Radar with Several Securities Regulators" »
Posted on Mar 9, 2013 By Michael Edmiston
FINRA suspended Christopher Michael Frank of Los Angeles, California and fined him $5,000 for allegedly effecting multiple options transactions in a customer's account without the customer's ...
Continue reading "Christopher Michael Frank Fined & Suspended for Unauthorized Transactions" »
Posted on Feb 1, 2013 By Michael Edmiston
FINRA suspended Henry John Dellaquila until December 3, 2013 for allegedly selling $1.37 million in variable annuities to 13 customers from January 2006 through November 2010 without his employing ...
Continue reading "Henry John Dellaquila Fined $55,000 and Suspended for Unauthorized Variable Annuity Transactions" »
Posted on Jan 29, 2013 By Michael Edmiston
FINRA suspended broker Peter C. Bishop and fined him $10,000 after its investigation found he had executed four trades on behalf of a deceased investor, without authorization, including several trades ...
Continue reading "Peter C. Bishop Fined & Suspended For Allegedly Effecting Unauthorized Trades After Customer's Death" »
Posted on Jan 28, 2013 By Michael Edmiston
FINRA'S National Adjudicatory Council (NAC) has upheld a FINRA Office of Hearing Officers' (OHO) decision to bar and fine Nolan Wayne Moore of Beaumont, California for failing to appear for an ...
Continue reading "After Appeal, Nolan Wayne Moore Barred and Fined for Failure to Cooperate, Allegedly Engaging in Undisclosed Outside Business Activities" »
Posted on Jan 26, 2013 By Michael Edmiston
FINRA suspended broker Douglas Gregory Bezio and fined him $10,000 after discovering Bezio lacked reasonable grounds with which to recommend the acquisition of mutual funds for a customer and that ...
Continue reading "Douglas Gregory Bezio Fined and Suspended for Unsuitable, Unauthorized and Excessive Trading" »
Posted on Jan 7, 2013 By Michael Edmiston
Registered with FINRA as a Los Angeles-area stockbroker and the SEC as an investment adviser, former Lehman Brothers, Inc., Citigroup Global Markets, Inc. and Wells Fargo Advisors, LLC associate ...
Continue reading "Philip Horn Guilty of Fraud: History and Risk of Horn's "Friendly" Scheme" »
Posted on Dec 30, 2012 By Michael Edmiston
The Financial Industry Regulatory Authority has expelled Take Charge Financial, Inc. of Los Gatos, California and barred principal Joan Anne Perry of San Jose for transferring $90,781.06 from customer ...
Continue reading "Take Charge Financial, Inc., Joan Anne Perry Expelled & Barred for Unauthorized Transfers, Failure to Report Complaints, Inappropriate Borrowing of Customer Funds" »
Posted on Dec 28, 2012 By Michael Edmiston
The Financial Industry Regulatory Authority barred broker Paul Ellsworth McIntosh for unauthorized trading activity and conversion of customers' funds. The FINRA Office of Hearing Officers issued ...
Continue reading "Paul Ellsworth McIntosh Barred for Unauthorized Trading Resulting in $40,000 in Customer Losses" »
Posted on Nov 12, 2012 By Michael Edmiston
The Financial Industry Regulatory Authority suspended broker Edgar Lee Giovannetti of Memphis, Tennessee, fining him $15,000 for borrowing funds from a customer without first obtaining approval from ...
Continue reading "Edgar Lee Giovannetti Fined & Suspended for Unauthorized Transaction, Failure to Disclose Lawsuit and Settlement" »
Posted on Sep 13, 2012 By Michael Edmiston
After losing his job in April, former Morgan Stanley Smith Barney LLC risk officer, Clifford Jagodzinski, accused his firm of firing him in retaliation for exposing a high-profile Morgan Stanley ...
Continue reading "Terminated Morgan Stanley Risk Officer Claims Retaliatiory Firing for Whistleblowing" »
Posted on Jul 24, 2012 By Michael Edmiston
The Financial Industry Regulatory Authority (FINRA) barred broker Alfred Chi Chen of Antelope, California for engaging in unauthorized transactions and making unsuitable recommendations to customers ...
Continue reading "Alfred Chi Chen Barred for Unauthorized Trading, Unsuitable Recommendations" »
Posted on Jul 17, 2012 By Michael Edmiston
After hearing arguments from FINRA's Department of Enforcement and broker Alan J. Davidofsky, the Office of Hearing Officers issued a decision against Davidofsky, ordering him barred from the ...
Continue reading "FINRA'S Office of Hearing Officers Issues Decision Barring Broker Alan Jay Davidofsky" »
Posted on Jul 13, 2012 By Michael Edmiston
The Financial Industry Regulatory Authority (FINRA) suspended broker Russell Philip Macke for taking advantage of discretionary authority granted to him by his customers and engaging in excessive ...
Continue reading "Russell Philip Macke Suspended for Excessive Trading and Use of Margin" »
Posted on Jul 6, 2012 By Michael Edmiston
The Financial Industry Regulatory Authority (FINRA) barred broker Gary Lee Cousino for declining to respond in any matter to a FINRA investigation into two lawsuits and an arbitration action filed ...
Continue reading "Gary Lee Cousino Barred for Refusing to Cooperate with FINRA Investigation" »
Posted on May 22, 2012 By Michael Edmiston
The Financial Industry Regulatory Authority (FINRA) has barred California registered representative Charles Oscar Boneck, Jr. from association with any member firm after Boneck engaged in multiple ...
Continue reading "Charles Oscar Boneck, Jr. Barred by FINRA for Unauthorized Transactions" »