Financial Industry Regulatory Authority’s (FINRA) BrokerCheck reports that FINRA has barred previously registered broker and investment advisor Jaime Michael Westenbarger from acting as a broker or otherwise associating with a broker-dealer firm. The barring follows two regulatory actions and several customer disputes against the broker, culminating in his being terminated.
From the beginning of 2020 to mid-March 2021, the following Tortoise Energy Funds have suffered substantial losses, ranging from nearly 50% to as much as 75%.
A class action lawsuit has been brought against HRK Holdings, LLC, after an abandoned phosphate fertilizer processing plant in Manatee County developed a “significant leak” on March 25, 2021. The leak threatens local residents with 480 million gallons of toxic wastewater and poses a further danger when part of a containment wall at the site shifted.
Registered broker and investment adviser Ronald Franklin Metcalf Jr. has been the subject of five customer disputes related to his work for Voya Financial Advisors, according to Financial Industry Regulatory Authority’s (FINRA) BrokerCheck. Mr. Metcalf has also been an agent for Reliastar and owns Metcalf and Associates, inc. in Greenville, South Carolina.
Michael Barry Carter, a broker previously registered with Morgan Stanley and Ameriprise Financial Services, and several other firms, has been the subject of three regulatory proceedings, five customer complaints, and one termination, according to Financial Industry Regulatory Authority’s (FINRA) BrokerCheck.
BrokerCheck reports that on three occasions, Carter has been subject to regulatory actions.
On February 18, 2021 a Financial Industry Regulatory Authority (FINRA) Extended Hearing Panel issued a Decision sanctioning Ricky Alan Mantei suspending him from associating with any FINRA Member firm in any capacity and fining him. The decision relates to violation of his former firm (JP Turner & Co’s) policies and involves the sale of structured certificates of deposits. Mantei has reportedly appealed this decision.
Many investors have suffered substantial losses after investing in NorthStar Healthcare Income Real Estate Income Trust (REIT) at the unsuitable recommendation of broker dealers.
The securities lawyers at Levin, Papantonio, Rafferty, Proctor, Buchanan, O’Brien, Barr & Mougey, P.A. are investigating claims from investors whose broker dealers did not inform them of the risks of such an investment and/or neglected the factors of their clients’ risk tolerance, age, investment experience, or age.
The Financial Industry Regulatory Authority as well as the U.S. Securities and Exchange Commission have barred Bradley Carl Mascho from acting as a broker or investment advisor. Macho also cannot associate with firms that sell securities or provide investment advice to the public. Mascho had 20 years of experience spanning five different firms before he was barred, these firms include:
Patients who have taken the drug Xeljanz to treat certain forms of arthritis and ulcerative colitis are learning that the cure could be worse than the disease.
The Financial Industry Regulatory Authority (FINRA) has filed a disciplinary complaint against former registered broker Kishan Parikh, also known as Sean Parikh. FINRA’s complaint alleges that while employed by Aegis Capital, Parikh made unsuitable recommendations and traded the accounts of five customers excessively during a period of time between August 2014 through 2016.
On March 17, 2021, FINRA’s Department of Enforcement filed their complaint against Parikh alleging excessive trading and unauthorized trading. The FINRA complaint includes the following specific allegations:
The Financial Industry Regulatory Authority (FINRA) has barred John C. Howley, also known as Jack C. Howley, from acting as a broker or otherwise associating with a broker-dealer firm in September of 2019. FINRA states that Howley failed to appear and provide testimony requested in connection with its investigation into allegations reported by Howley’s member firm in a Form U5 that states he failed to disclose private securities transactions to the firm and referred clients to outside investments. By refusing to appear for on-the-record testimony, Howley violated multiple FINRA rules.
From the beginning of 2020 to mid-March 2021, the following Tortoise Energy Funds have suffered substantial losses, ranging from nearly 50% to as much as 75%.
Two brokers and investment advisers formerly employed by National Securities Corporation in Boca Raton, have been the subject to numerous customer disputes, some of which remain pending, others of which have settled, and some of which resulted in awards for the complainants. The Levin Papantonio Rafferty law firm is investigating potential claims involving losses or unsuitable recommendations made by Troy Jason Goldberg, William John Braun, and/or National Securities. Customers who suffered losses may have a right to recover their losses.
Levin Papantonio Rafferty is investigating potential customer claims involving the broker Megurditch "Mike” Patatian, formerly employed by Western International Securities.
As the number of talc powder lawsuits against Johnson & Johnson continues to rise, the multinational corporation has reserved $3.9 billion for litigation expenses and settlements, reports Business Insider. The planned reserve represents a marked increase from the $400 million that Johnson & Johnson (J&J) had earmarked for such expenses in 2019.
Broker and investment adviser Jenna Kang, formerly with AXA Advisors, LLC has been barred by the Financial Industry Regulatory Authority (FINRA) from acting as a broker or otherwise associating with a broker-dealer firm. FINRA’s BrokerCheck sheds light on the customer disputes that cloud Kang’s brief career as a broker and investment adviser, ranging from 2016 to 2020. The report details one regulatory event, nine customer disputes, and one termination.
Murray Todd Peterson is a previously registered broker and investment adviser whose 35-year career included 11 customer disputes, one termination, and 5 judgments/liens, according to Financial Industry Regulatory Authority’s (FINRA) BrokerCheck.
Over the course of his career, Peterson worked with Ameriprise; SCF Securities, Inc.; WFG Investments, Inc.; Commonwealth Financial Network; and Financial Network Investment Corporation.
Financial Industry Regulatory Authority’s (FINRA) BrokerCheck reports that previously registered broker and investment adviser Dexter Leroy Thomas was discharged by his employer, United Planners Financial Services of America. The termination reportedly followed Thomas’ informing United Planners of his involvement with several firm-unapproved private loans and investments with people who later became clients of the firm.
Many investors have suffered substantial losses after investing in NorthStar Real Estate Income Trust (REIT) at the unsuitable recommendation of broker-dealers.
The securities lawyers at Levin, Papantonio, Thomas, Mitchell, Rafferty & Proctor, P.A. are investigating claims from investors whose broker-dealers did not inform them of the risks of such an investment and/or neglected the factors of their clients’ risk tolerance, age, liquidity needs, investment experience, or age.
Levin Papantonio Rafferty is investigating potential customer claims involving the broker Charles Bonilla, formerly employed by David Lerner Associates, Inc.
According to the Financial Industry Regulatory Authority (FINRA)’s Letter of Acceptance, Waiver, and Consent No. 2020067626001, Charles Bonilla has been suspended for five months, fined $5,000, and has been ordered to disgorge $22,417 in commissions. Bonilla’s suspension is a result of recommending energy-sector securities to his customers without having a reason to believe the investments were suitable.
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