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Recent Posts in Discretionary Trading Category

Ex-Wells Fargo Broker Joseph Eschleman Sanctioned for Unauthorized Use of Discretion

FINRA fined and suspended ex-Wells Fargo Clearing Services and current Purshe Kaplan Sterling Investments (both Sacramento, CA) broker Joseph Frederick Eschleman for exercising discretion without ...
Continue reading "Ex-Wells Fargo Broker Joseph Eschleman Sanctioned for Unauthorized Use of Discretion" »

Former Transamerica Broker Roy Gaytan Sanctioned for Discretionary Trading Violations

FINRA fined and suspended former Transamerica Financial Advisors (Thousand Oaks, CA) rep Roy Aurelio Gaytan for discretionary trading violations that took place in 2016 and 2017 in which he allegedly ...
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Merrill Lynch Broker Jonathan Belden Fined & Suspended for Unauthorized Use of Discretion, Trading Restricted Security

FINRA suspended Jonathan Russell Belden, formerly a broker at Merrill Lynch's Oakland branch, for effecting at least 200 discretionary trades in client accounts without written permission to do ...
Continue reading "Merrill Lynch Broker Jonathan Belden Fined & Suspended for Unauthorized Use of Discretion, Trading Restricted Security" »

Saddled with Settlements, Kevin Yang Sanctioned for Unauthorized Discretion at Morgan Stanley

FINRA fined and suspended Kevin Chiagan Yang, formerly of Morgan Stanley's Pasadena, CA branch, for exercising discretion without written authorization. The disciplinary action follows several ...
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Patricia Peterson Sanctioned for Unauthorized Discretionary Trades in WFG Accounts

Former WFG Investments, Inc. broker and present Innovation Partners LLC representative Patricia Gail Evershed Peterson of Nevada consented to a fine and suspension based on FINRA's findings that ...
Continue reading "Patricia Peterson Sanctioned for Unauthorized Discretionary Trades in WFG Accounts" »

Ex-Ameriprise Brokers Jack McBride and Stuart Pearl Cited by FINRA for Improper Margin Trades

FINRA fined and suspended former Amerprise Financial Services brokers Jack B McBride and Stuart L Pearl for misconduct related to use of margin in customer accounts, while McBride additionally ...
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FINRA Investigating Joseph Farah for Churning, Suitability, Undisclosed Outside Business Activities, Misrepresentations

FINRA charged Gold Coast Securities (Irvine, CA) broker Joseph C Farah with churning, excessive trading, suitability, undisclosed outside business activities, material misrepresentations, and ...
Continue reading "FINRA Investigating Joseph Farah for Churning, Suitability, Undisclosed Outside Business Activities, Misrepresentations" »

Andrew Logullo Sanctioned for Selling Away, Undisclosed Outside Business, and Improper Use of Discretion Trading Penny Stocks

FINRA fined and suspended former Ameritas Investment Corp. (Los Angeles) broker Andrew John "AJ" Logullo for failing to disclose outside brokerage accounts to Ameritas and for engaging in an ...
Continue reading "Andrew Logullo Sanctioned for Selling Away, Undisclosed Outside Business, and Improper Use of Discretion Trading Penny Stocks" »

Hossein Amirraiahei Barred Over Unauthorized Discretionary Trading Investigation

FINRA barred former Wells Fargo Advisors rep Hossein "Amir Riahei" Amirriahei of the firm's Los Angeles, California branch following an investigation into allegations that he conducted ...
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Kai Chen Fined & Suspended for Unauthorized Use of Discretion at Credit Suisse

FINRA fined and suspended former Credit Suisse Securities and S F Sentry Securities (both of San Francisco, CA) broker Kai Nmn Chen aka Szu-Kai or Szukai Chen for improperly exercising discretion in ...
Continue reading "Kai Chen Fined & Suspended for Unauthorized Use of Discretion at Credit Suisse" »

Christopher Ariola Barred, Ordered to Pay $138k in Restitution for Unsuitable Gold & Energy Recommendations

Former Bay Mutual Financial (Santa Monica) and Financial Telesis (Aliso Viejo) broker Christopher Basile Ariola must pay nearly $138,000 in restitution to customers who lost money after Ariola ...
Continue reading "Christopher Ariola Barred, Ordered to Pay $138k in Restitution for Unsuitable Gold & Energy Recommendations" »

Paul Valencia Fined & Suspended for Discretionary Trading Without Customer or Firm Authorization

FINRA suspended Paul Frederick Valencia, formerly of World Equity Group, Inc. in Temecula, California, for effecting several discretionary trades in a customer's security account without proper ...
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James Christianson Fined, Suspended for Unauthorized Use of Discretion

FINRA suspended former Wells Fargo financial advisor James Gavin Christianson for exercising discretion to complete several hundreds of purchases and sales in customer accounts without obtaining ...
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FINRA Fines, Suspends Tyler Boone Powell for Improper Use of Discretion

FINRA fined and suspended former Wells Fargo broker Tyler Boone Powell for exercising discretion in a client's account without first getting written authorization from the customer and from the ...
Continue reading "FINRA Fines, Suspends Tyler Boone Powell for Improper Use of Discretion" »

Shawn Michael Richardson Censured and Fined for Exercising Discretion Without Permission

FINRA fined Morgan Stanley Smith Barney LLC broker Shawn Michael Richardson and censured him for exercising discretion in a customer's account without permission. According to the findings, ...
Continue reading "Shawn Michael Richardson Censured and Fined for Exercising Discretion Without Permission" »

Concentration Risk: The Implications of Putting All Your Eggs in One Basket

Concentration risk occurs when a large portion of a portfolio's holdings is in a particular investment relative to the overall portfolio. This can be caused or perpetuated through: >> ...
Continue reading "Concentration Risk: The Implications of Putting All Your Eggs in One Basket" »

William Jeffrey Austin Fined & Suspended for Exercising Discretion Without Authorization or Consent

FINRA fined and suspended former WBB Securities, Inc. broker William Jeffrey Austin of Redlands, California for exercising discretion in a customer account without proper authorization or consent. The ...
Continue reading "William Jeffrey Austin Fined & Suspended for Exercising Discretion Without Authorization or Consent" »

NASAA Calls Out New Scams, Rotates Five of Top 10 Investor Threats

The North American Securities Administrators Association (NASAA) added five new schemes to its list of top threats to investors. Leading the pack of new threats are proxy trading accounts, in which ...
Continue reading "NASAA Calls Out New Scams, Rotates Five of Top 10 Investor Threats" »

SEC: Small Violations Can Lead to Strong Enforcement, Sanctions, and Fines

The Securities and Exchange Commission is turning to a new Enforcement strategy: zero in on minor infractions in order to stop large violations from occurring later on. SEC Chairman Mary Jo ...
Continue reading "SEC: Small Violations Can Lead to Strong Enforcement, Sanctions, and Fines" »

Christopher Michael Bones, David Shelton Brown, Jr. Fined & Suspended in Separate Instances of Unauthorized Discretionary Trading

FINRA suspended broker Christopher Michael Bones and fined him $5,000 for allegedly placing trades in customer accounts without notifying customers and in violation of firm policy. FINRA Case ...
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Richard Joseph Gobel Fined and Suspended for Discretionary Trading without Written Authorization

FINRA suspended former Wall Street Financial Group, Inc. broker Richard Joseph "Rick" Gobel and fined him $7,500 for failing to obtain written authorization from both customers and Wall ...
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Once Granted, Permission to Trade with Discretion Can Be Problematic

When an investor grants "discretionary authority" to a broker to trade the investor's account using only the broker's own judgment, the grant of authority must be in writing and ...
Continue reading "Once Granted, Permission to Trade with Discretion Can Be Problematic" »
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