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Fiduciary Duty

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February 24, 2023 Beverly Hills Broker Antoine Souma Barred After Failing to Cooperate with FINRA Investigation
June 21, 2022 Emerson Equity Predicts Further Adversity as Wholesalers Leave and GWG Holdings L Bond Losses Grow
April 22, 2022 After Causing Investor Losses, Bankrupt GWG Holdings Blames SEC Investigation For GWGH Failures
April 08, 2022 GWG Holdings Losses Grow in California with Centaurus, Kingswood's Mark John Williams
March 09, 2022 Investors Advised to "Avoid GWGH" as GWG Holdings Deemed Problematic in 2015
December 30, 2021 Fraudulent Offerings, Unsuitable Recommendations Linked to Northstar Financial Service (Bermuda)
September 11, 2020 Stifel Nicolaus Broker Steven Rodemer to Pay $385,536 to Settle SEC Claims He Scammed Elderly Widow
February 29, 2020 Citing 'Widespread Failures,' SEC Fines Wells Fargo $35 Million for Unsuitable Inverse ETF Recommendations, Inadequate Supervision Leading to Millions of Dollars in Customer Losses
January 25, 2019 Unauthorized Trading, Suitability, and Customer Abuse Complaints Catch Up to Wedbush's William Mark Heiden of Southern California
June 26, 2019 Cetera's George Merhoff Barred on 35th Broker Disclosure After $3.8 Million in Settlements
June 13, 2019 Nina Jessee Latest Cetera Advisors Broker Barred by FINRA
May 28, 2019 Wedbush/Hilltop Securities Broker Mark Augusta Accused of Fraud, Financial Elder Abuse
April 10, 2019 Glendale Securities (Sherman Oaks) Brokers Sanctioned in Penny Stock Misconduct
March 20, 2019 Law Offices of Jonathan W. Evans & Associates Investigating Dennis Albert Mehringer for Suitability, Overconcentration into Risky Bonds
March 14, 2019 Wedbush Pays $250k to Settle Supervision Failure Charge for SoCal Rep Timary Delorme's Pump-and-Dump Fraud
February 13, 2019 Thomas E Burns Sanctioned for Alt Investment Mistakes at Crown Capital
December 22, 2018 Cetera Advisor Networks Fined $1.4 Million for Broker Koehler's Unsuitable Churning and Excessive Mutual Fund Trading
December 02, 2018 Sean J. Waters Barred for Churning Senior Citizen's Retirement Accounts, Racking Up Fees and Losses
November 29, 2018 Frank Dietrich Cited for Selling $10.8 Million in Investments in Woodbridge Group of Companies Ponzi Scheme
November 23, 2018 San Diego "Financial Whiz of Local Airwaves" Kyle Harrington Barred After Conversion, Undisclosed Private Securities Transaction Investigations
November 06, 2018 Michael Heath Sanctioned for Personal E-mails, Communications in Violation of First Allied Securities Policies
October 15, 2018 Charla Kabana Barred During Investigation into Variable Annuity Business at LPL Financial
October 10, 2018 Daniel Kittner Suspended for 700 Unauthorized Discretionary Trades
September 29, 2018 Robert Torcivia Disciplined Over Beneficiary Designations, Inheriting Money from Clients
September 17, 2018 Uncooperative Juergen Weber (Unsuitable, Unauthorized Trades) and Benjamin S. Johnson (Failure to Report Liens) Barred
September 11, 2018 HD Vest Investment's Jerry Raines & Donna Barnard Barred in Ongoing Woodbridge Ponzi Scheme Investigation
September 06, 2018 Lincoln Investment Planning Sanctioned for Failing to Apply Sales Charge Discounts to Eligible Retirement Customers
August 22, 2018 Merrill Lynch to Pay $8.9 Million to SEC for Failing to Disclose Conflict of Interest
August 21, 2018 SEC Bars BKS Advisors' Roger Denha for Fraudulent Cherry-Picking Trade Allocation Scheme
July 11, 2018 Cetera Financial Fined $200,000 for Failing to Supervise Broker Who Misused Elderly Client's Funds
June 27, 2018 Kyusun Kim Barred for Unsuitable Recommendations of REITs and Alt Investments in Elderly Investors' Retirement Accounts
June 26, 2018 Wells Fargo Advisors Pays $5 Million to Settle SEC's MLI Short-Term Trading Charges
February 07, 2023 SEC Accuses Steve Susoeff, Meritage Financial Group, of Fraudulent Scheme
July 14, 2022 McDermott Investment Advisors Loses to SEC in Court, Held Liable for Fraud Against UIT Clients
November 23, 2021 JP Morgan Advisors' Antoine Souma Suspended for Incorrect and Misleading Reports to Customer
October 19, 2021 Morgan Stanley's Barry Garapedian Accused of Unsuitable Recommendations Causing Millions in Damages
September 14, 2021 SEC Cites 9 Brokerage Firms Over 12b-1 Fee Violations That Harmed Customers
July 31, 2021 SEC Finds Fiduciary Duty and Suitability Failures in Wrap-Fee Program Recommendations
April 30, 2021 Antoine Nabih Souma Under Investigation After JP Morgan Pays $14 Million to Settle Dispute
March 26, 2021 While Stating "We Routinely Have Legal Issues," Calton & Associates Adds $500,000 to ETF Legal Budget, Seeking to Pay Customers Restitution for Complex ETF Sales
March 25, 2021 The Logan Group Securities Cited for Multi-Share Class Variable Annuity Violations
March 09, 2021 Cetera Financial Group & Cetera Advisors Paid $4.2 Million Over Mutual Fund Misconduct
November 27, 2020 FINRA Cracks Down on Unit Investment Trust (UIT) Short-Term Trading Abuse at Stifel, Nicolaus & Company
November 25, 2020 FINRA Finds Variable Annuities, Life Insurance Liquidation Strategy Unsuitable, Cites ON Equity Sales Broker
September 16, 2020 JP Morgan's Lauren Wing Cited for $314,000 of Unauthorized Trading in Senior's Account
August 04, 2020 Oppenheimer, Already Sanctioned $3.8 Million, Sees Broker Penalized for Premature & Unsuitable UIT Sales & Trades
July 29, 2020 Fired Morgan Stanley Broker Stephen Sloane Under Investigation for Unsuitable Recommendations in Quickly Trading Long-Term Investments
July 23, 2020 James Daughtry Barred in 'Potentially Fraudulent and Unauthorized Transactions' Investigation
May 01, 2020 Wells Fargo's Bryan Benson Barred After Investigation Into DPP Customer Complaint
April 16, 2020 CFP Board Suspends California's Michael Altobell & Richard LaBare
March 25, 2020 Margin Trading and Complex Leveraged Products Could Amplify Losses During Coronavirus Commotione
March 24, 2020 Coronavirus Losses, Stock Market Decline Expose Fraudulent Schemes
January 15, 2020 NEXT Financial Group Fined for Unsuitable Non-Traded REIT Sales
December 02, 2019 SEC Bars Securities America Broker Ronald J Roach over $1 Billion DC Solar Fraud and Ponzi Scheme
October 16, 2019 Broker John Charles Wyshak Ordered to Pay Nearly $1 Million Over Churning Allegations at Raymond James
August 26, 2019 Ex-Cetera Broker Merhoff Racking Up Complaints After FINRA Bar
July 09, 2019 After Customers Suffer Losses, FINRA Cites Cetera's Summit Brokerage Services for Failing to Review Excessive Trade Alerts
May 08, 2019 Jonathan W. Evans & Associates Announces Filing of FINRA Arbitration Claim Against Western International Securities & Dennis Albert Mehringer, Jr.
July 02, 2018 Massachusetts to Investigate Private Placement Sales & Related Practices at 10 Firms
June 12, 2018 Complaint Cites Atiq Khan for Failing to Appear in Unauthorized Solicitation, Beneficiary Investigation
May 09, 2018 Fifth Third Securities to Pay $6 Million for Variable Annuity Suitability and Disclosure Failures
April 27, 2018 Wells Fargo Filing Admits Investigation into 401(k)-to-IRA Rollover Recommendations
April 20, 2018 FBI Arrests Ex-Ameriprise Broker Li Lin Hsu for Fraud, Stealing from Clients
April 18, 2018 Merrill Lynch Broker Jonathan Belden Fined & Suspended for Unauthorized Use of Discretion, Trading Restricted Security
April 10, 2018 Wells Fargo Wealth Management Investigated for Unsuitable Investments, Self-Dealing
March 22, 2018 Phillip Tibbetts Fined & Suspended for Accepting Unauthorized Loan from Customer
March 15, 2018 Saddled with Settlements, Kevin Yang Sanctioned for Unauthorized Discretion at Morgan Stanley
March 14, 2018 Omer Ozeren Sanctioned for Unauthorized Use of Discretion and Faulty ETF Recommendations
March 06, 2018 DOJ Orders Review of Wells Fargo Advisors' Sales Practices and Recommendations
February 27, 2018 SEC Charges Joseph Bronson's Strong Investment Management with Cherry Picking Fraud, Misrepresentation
February 16, 2018 Regulator Charges Scottrade with Fiduciary Duty Rule Violation in Retirement Sales Contest Controversy
February 06, 2018 Car Dealership Alt Investments in Turmoil as GPB Capital Holdings Alleges Business Partner Fraudulently Converted Funds
January 31, 2018 FINRA to Flag Brokers as High-Risk Due to Association with Recidivist Reps, Fraudulent Firms
January 25, 2018 Ameriprise's Lorene Fairbanks Sanctioned for Unauthorized Loan from Customer, Violative Text Messages
January 16, 2018 FINRA's 2018 Priorities Include Suitability, Cryptocurrency, High-Risk Brokers & Firms, Microcap/Penny Stocks, and Margin
January 10, 2018 Ameriprise's Larry Boggs Barred for Churning Elderly Client Accounts, Improperly Changing Customer Objectives
January 04, 2018 Goldman Sachs Structured Products, Reverse Convertibles, Suitability, and the Fiduciary Rule
December 27, 2017 NASAA Identifies Notes, Real Estate, Ponzi, Oil and Gas, Affinity Fraud, and Variable Annuities as Biggest Investor Threats
December 04, 2017 Anthony Sica Sanctioned for Recommending Unsuitable High-Risk Securities to Elderly Customer and Unauthorized Trading in Dead Client's IRA Account
November 29, 2017 Modesto's David Lee Reynolds Barred During Misappropriations Investigation
November 18, 2017 Jerry Guttman Barred for 10 Years of Unauthorized Private Securities Transactions
November 14, 2017 Patricia Peterson Sanctioned for Unauthorized Discretionary Trades in WFG Accounts
November 10, 2017 Lisa J. Lowi Barred During Investigation into Unsuitable Trading, Unauthorized Transactions Complaints
October 06, 2017 SEC Charges Tweed Investment Services and Owner Robert Tweed with Fraud in Athenian Fund Scheme
October 04, 2017 Mike Crowe Sanctioned for Soliciting Investments in Undisclosed Real Estate Security with Unpaid Returns
October 03, 2017 Sandlapper Securities Accused of Charging $8 Million in Fraudulent Markups for Saltwater Disposal Well Private Placements
September 19, 2017 With 33rd Disclosure Since 2002, Broker Tiffany Ann De Ruosi (Rigali), Criminal Record in Hand, is Suspended
September 05, 2017 Jeffrey Alan Smith is the Latest Ex-Accelerated Capital Group Broker Cited for Pre-Signed, Altered Forms
September 01, 2017 FINRA Sanctions Elaine LaCerte for Unsuitable UIT Sales, Causing Unnecessary Sales Charges
August 30, 2017 Facing Allegations of Fraud and Churning, Frederick Houck Suspended for Unauthorized Use of Discretion
August 29, 2017 John Kostic Sanctioned, Disgorgement Ordered for Unauthorized Private Securities Transactions
July 31, 2017 Fictitious Letters to Elderly VA Customer Earns Jason Belajack a Permanent Bar in Latest Discipline of Ex-ACG Broker
July 28, 2017 FINRA Bars Kim Dee Isaacson for Defrauding Elderly Customer
July 27, 2017 PA Fines Austin Dutton $200,000 & Newbridge $499,000 for Dishonest, Unethical Practices in Unsuitable REIT Sale
July 25, 2017 FINRA Bars Timothy Ballard for Failing to Cooperate with Investigation
July 19, 2017 Larry Wolfe Fined & Suspended for Unauthorized Discretionary Trading in Accounts of 39 Customers
June 19, 2017 Jose J. Perez Sanctioned for Impersonating Client's Brother to Request Retirement Funds Transfer; Requests Transfer from Wrong Account
June 03, 2017 Ex-Red Ridge Securities CEO Brent Hurt Sanctioned for Failing to Supervise Broker in $1 Million Misappropriation Scheme
May 25, 2017 Wells Fargo to Restrict Structured Products, Municipal Bonds in IRA Accounts
February 21, 2017 Red River Securities Expelled, CEO Brian Hardwick Barred, Ordered to Pay $24.6 Million in Restitution for Fraud
February 14, 2017 Ex-Financial West Group Broker Kelly Clayton Althar Barred for Unsuitably Risky and Excessive Trading in Elder Client's Account that Resulted in $187,000 in Losses
February 06, 2017 After Separation from JP Morgan, Robert Stewart Says He Just Followed Firm's Longstanding Practice
February 02, 2017 Lawson Financial, CEO Robert Lawson Barred for Fraudulent Municipal Bond Sales
January 10, 2017 Complaint Alleges Kelly Althar's Unsuitable and Excessive Trading Caused $187,000 Loss in Elderly Client's Accounts
November 28, 2016 VALIC Financial Advisors Fined $1.75 Million for Conflict of Interest, Supervisory Failures Related to Variable Annuities
November 01, 2016 Unsuitable and Risky Oil and Gas Sales and Plummeting Energy Investments Cost Elderly Clients Millions of Dollars in Losses
September 12, 2016 Jonathan W. Evans & Associates is Investigating Claims Against William Mark Heiden & Wedbush Securities over Energy Stock Overconcentration
September 07, 2016 Jerry McCutchen Barred in Connection with Over 20 Customer Complaints Alleging REIT & Alt Investment Unsuitability, Misrepresentations
September 06, 2016 Ameriprise Financial Failed to Supervise Michael Halla's Unsuitable Closed End Fund Short-Term Trading, Fined $100,000
August 30, 2016 Christopher Ariola Charged with Unsuitable Energy Recommendations to Elderly Clients, Undisclosed Trading
August 24, 2016 Ex-LPL Financial & Crown Capital Broker Eric Kuchel Barred After Failing to Cooperate with Mutual Fund Investigation
August 23, 2016 $150 Million Lawsuit Against Morgan Stanley Alleges Excessive 401(k) Retirement Plan Fees, Self-Dealing
July 23, 2016 Ex-Wells Fargo Advisor Bradley Smegal Charged with Securities Fraud for Defrauding Clients Out of $5 Million, Making Ponzi Payments
June 29, 2016 Anthony Diaz, a Repeat Offending Rogue Broker Under Federal Indictment for REIT Fraud, is Poster Child for Worrying Trend
May 04, 2016 David Miller Barred, Ordered to Pay $800k in Restitution for Unsuitable UIT Recommendations
December 19, 2015 J.P. Morgan Ordered to Pay Over $300 Million for Conflict of Interest Disclosure Failures
September 24, 2015 FINRA Bars Willard Lee Golightly for Supervisory Failures over Excess Concentration in Illiquid Securities, REITs
July 13, 2015 Jeffrey David Daggett Fined & Suspended for Unsuitable ETN, Non-Traditional ETF Recommendations
June 24, 2015 SEC to Fight Financial Elder Abuse and Fraud by Upping Broker and Advisor Oversight in Retirement Accounts
June 11, 2015 Michael J. Strasser, a Broker with 22 Disclosures, Fined & Suspended for Failure to Disclose Judgment
May 06, 2015 SEC Investigating JPMorgan Over Potentially Improper Proprietary Fund Sales, Fiduciary Standard Violations
March 13, 2015 With 14 Pending Customer Disputes Alleging Misrepresentation and False Statements in Variable Annuity Transactions, FINRA Files Complaint Against Anthony Diaz
January 19, 2015 Kevin Luby Fined $25k, Suspended for Disclosure Failures Related to Elderly Customer's Trust and Estate
January 07, 2015 Fiduciary Duty - Putting Customers First - Tops FINRA's Regulation Priorities for 2015
December 04, 2014 JP Morgan to Pay $485,000 in Damages for Overly Concentrated Investments
November 15, 2014 OC's Robert Klein, Other Brokers with History of Disciplinary 'Red Flags' Flocking to Hotspots for Misconduct, Elderly Investors
June 11, 2014 Broker Patricia Miller Facing Fraud Charges After Clients' Life Savings Go Missing
June 06, 2014 Concentration Risk: The Implications of Putting All Your Eggs in One Basket
May 05, 2014 Popularity of Liquifying Home Equity, Cash-Out Refinancing Increases as Valuation Increases
May 01, 2014 NSM Securities, Bhasin, Bhagwani & Balchandani Disciplined for Supervisory, Suitability and Compliance Failures, Churning and Unauthorized Trading Activity
April 16, 2014 SEC Charges San Diego's Total Wealth Management with Fraud in Kickbacks Scheme
January 30, 2014 SEC Issues Risk Alert Criticizing Advisors' Handling of Alternative Investments
January 26, 2014 SEC National Exam Program's Investment Adviser & Company Priorities for 2014
January 23, 2014 SEC National Exam Program Issues Broker-Dealers Priorities List for 2014
January 07, 2014 FINRA Tells Firms to Put Clients First with Conflicts of Interest Report
January 03, 2014 FINRA to Target Complex Investments Including REITs, ETFs and Mortgage Backed Securities in 2014 Exams
December 24, 2013 Gary J. Chackman Barred for Unsuitable Non-traded REIT Transactions
December 16, 2013 Adviser Rafael R. Sanchez Barred & Ordered to Pay $4.6 Million in Damages Over Real-Estate Fund Damages
November 20, 2013 Proposed Fiduciary Rule Changes Signal Heightened Due Diligence Requirements for Brokers, Advisors
November 17, 2013 Dangerous Words: SEC Cautions Firms to Stop Using "Protected," "Guaranteed" in Fund Names
October 15, 2013 SEC: Small Violations Can Lead to Strong Enforcement, Sanctions, and Fines
September 18, 2013 Private Placement Offerings Require Research and Contemplation of Risk
September 11, 2013 Wendy Janeen Worcester Fined and Suspended for Multiple Due Diligence Failures
August 02, 2013 FINRA Arbitration Panel Orders Citigroup to Pay $10.75 Million for Overconcentration Negligence and Failure to Supervise
July 25, 2013 FINRA's TRACE Program to Increase Transparency of Mortgage-Backed Securities Market
June 28, 2013 Donald Wayne Hastings Barred for Improperly Placing Elderly Customer's Funds in Business Account
June 03, 2013 SAC Capital Stops Cooperating with Government Investigation as DOJ Ramps Up Probe, Investors Flee
April 14, 2013 Once Granted, Permission to Trade with Discretion Can Be Problematic
April 08, 2013 Karl Edward Hahn Ordered to Pay $11 Million to Customer for Investment Fraud & Misrepresentation
December 19, 2012 Aletheia CEO Peter J. Eichler Jr. Accused of Defrauding Investors, Resulting in $4.4 Million in Losses
December 15, 2012 Massachusetts Securities Regulators Sue LPL Financial over Nontraded REIT Sales
December 06, 2012 Wedbush Securities Fined $375,000; Richard Anthony Lanni and Ronald Edward Vogel Fined and Suspended for Poor Supervisory Systems Related to Variable Annuities
July 17, 2012 FINRA'S Office of Hearing Officers Issues Decision Barring Broker Alan Jay Davidofsky
July 06, 2012 Gary Lee Cousino Barred for Refusing to Cooperate with FINRA Investigation
June 26, 2012 With New 401(k) Disclosure Requirement, Investors Should Review 401(k) Plan to Determine Fees Charged

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