Recent Posts in Variable Annuities Category
Posted on Apr 8, 2013 By Michael Edmiston
FINRA ordered former Merrill Lynch, Pierce, Fenner & Smith Inc., Deutsche Bank Securities Inc., and Oppenheimer & Co., Inc. broker Karl Edward Hahn to pay former clients over $11 million in ...
Continue reading "Karl Edward Hahn Ordered to Pay $11 Million to Customer for Investment Fraud & Misrepresentation" »
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 12, 2013 By Michael Edmiston
FINRA barred former California-based Wells Fargo Advisors, LLC broker Adorean Boleancu and ordered the former securities representative to pay restitution to an elderly, widowed customer in the amount ...
Continue reading "Adorean Boleancu (Wells Fargo) Ordered to Pay $650,000 in Restitution for Improper Conversion of Funds" »
Posted on Feb 20, 2013 By Michael Edmiston
The Financial Industry Regulatory Authority barred former Merrill Lynch, Pierce, Fenner & Smith Inc. broker John L. Gathright for allegedly misappropriating $717,000 from 10 investors and ...
Continue reading "John L. Gathright Jr. Barred for Misappropriating Annuity Funds After Completing VA Surrender Request Forms" »
Posted on Feb 18, 2013 By Michael Edmiston
FINRA barred former JP Turner & Company, LLC broker Neil Copeland Winterrowd of Coto de Caza, California for allegedly misappropriating $1.5 million from multiple customers for personal use and ...
Continue reading "Neil Copeland Winterrowd Barred for Misappropriation of $1.5 Million in Customer Funds" »
Posted on Feb 13, 2013 By Michael Edmiston
The Financial Industry Regulatory Authority suspended stockbroker Jeffrey Alan Hutman, formerly of Pruco Securities, LLC, through March 31, 2013 and fined him $10,000 for allegedly recommending ...
Continue reading "Jeffrey Alan Hutman Fined & Suspended in Relation to Variable Annuity Transactions Outside of Firm" »
Posted on Feb 12, 2013 By Michael Edmiston
In a case reported only recently by FINRA, Richard Lee Ell was suspended through the end of December 2012 and fined $5,000 after allegedly settling a customer complaint without informing his firm, ...
Continue reading "Richard Lee Ell Sanctioned in Connection with Variable Annuity Transaction Charges & Complaint" »
Posted on Feb 5, 2013 By Michael Edmiston
FINRA fined Gabriel Arnaud Dupin de Saint Cyr of Torrance,California and fined him $7,000 for allegedly signing his supervisor's name on two "Change of Broker/Dealer Request" forms ...
Continue reading "Gabriel Arnaud Dupin De Saint Cyr Fined & Suspended After Forging Form Signatures" »
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 15, 2013 By Michael Edmiston
The Financial Industry Regulatory Authority has suspended broker Adam Spencer Deane of Naples, Florida and fined him $25,000 for allegedly recommending and executing a variably annuity (VA) ...
Continue reading "Adam Spencer Deane Suspended & Fined $25,000 for Improper Out-of-State VA Transaction" »
Posted on Dec 20, 2012 By Michael Edmiston
The Financial Industry Regulatory Authority suspended stockbroker Daniel Leland Chiddister and fined him $10,000 for allegedly impersonating a prospective customer after meeting with the customer to ...
Continue reading "Daniel Leland Chiddister Fined & Suspended for Impersonating Potential Customers" »
Posted on Dec 6, 2012 By Michael Edmiston
The Financial Industry Regulatory Authority censured Wedbush Securities, Inc. of Los Angeles, California, fining the firm $375,000 for what FINRA deemed was a failure to supervise employees and ...
Continue reading "Wedbush Securities Fined $375,000; Richard Anthony Lanni and Ronald Edward Vogel Fined and Suspended for Poor Supervisory Systems Related to Variable Annuities" »
Posted on Oct 12, 2012 By Michael Edmiston
The Financial Industry Regulatory Authority censured and fined United Planners Financial Services of America, headquartered in Scottsdale, Arizona, $200,000 and its Chief Compliance Officer Douglas ...
Continue reading "United Planners & CCO Douglas Hall Fined for Lack of Supervision with respect to Variable Annuities" »
Posted on Jul 11, 2012 By Michael Edmiston
The Financial Industry Regulatory Authority (FINRA) suspended broker Brett David Henderson and fined him $95,000 for engaging in unsuitable variable annuity (VA) switch transactions without ...
Continue reading "Brett David Henderson Fined $95,000 and Suspended for Unsuitable VA Switch Transactions" »