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FINRA Fines Five Firms for sale of 7.5 Billion Shares of Unregistered Universal Express Stock
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May 7, 2010 @ 10:43 am |
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FINRA Fines Five Firms $385,000 for Sale of Unregistered Securities, Other Violations Relating to Penny Stocks
Together, the Firms Sold 7.5 Billion Shares of Unregistered Universal Express Stock; Fagenson & Co. Also Found to Have Inadequate Anti-Money Laundering Program
Washington, DC — The Financial Industry Regulatory Authority (FINRA) announced today that it has fined five broker-dealers a total of $385,000 for the illegal sale of more than 8 billion shares of penny stock on behalf of their customers. Most of thos...
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Finra Shuts Down GunnAllen
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March 22, 2010 @ 12:38 pm |
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GunnAllen Financial Inc., a Florida-based broker dealer, can no longer trade on behalf of customers because it has fallen below mandatory net capital requirements, a company spokeswoman has confirmed.
A closer look at GunnAllen Financial, an independent broker/dealer firm headquartered in Tampa, Florida, reveals some interesting, if not disturbing, details about the company and, specifically, the fact that it appears to have a track record of hiring brokers whose conduct records are wrought with problems.
On Sept. 28, 2009, the Securities and Exchange Commission (SE...
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Sue'em Don't Shoot Em! End the Violence Against Stockbrokers, Now!
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March 12, 2010 @ 6:05 pm |
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On Monday, in North Dallas, Texas, a disgruntled investor paid a visit to his stockbroker and investment advisor’s office, with a 45 caliber weapon, yelling "you lost all my money," and is alleged to have shot his broker and the broker's son, before taking his own life. According to the Fort Worth News, Robert Mustard, Jr., (a disbarred lawyer), is alleged to have shot his stockbrokers Richard Smith, 66, in the leg, and his son, Christopher Smith in the n...
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Investor Claims against Stockbrokers for Fraud Continue to Soar
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January 24, 2010 @ 8:40 am |
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Securities arbitration results from the Financial Industry Regulatory Authority (\"FINRA\") Office of Dispute Resolution reporting the outcomes of customer initiated investment related arbitrations against stockbrokers and investment firms have been released for 2009.
Not surprisingly, the number of FINRA customer initiated arbitration cases filed in 2009 increased 43% from 4,982 cases in 2008 to 7,137 cases in 2009. The number of these cases was initially expected to exceed 10,000 in 2009. Increases in securities prices in the 2009 have probably reduced the number of claims that would...
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Prudential Investment Management Fraud
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January 18, 2010 @ 6:24 pm |
Pruco Securities, LLC (CRD #5685, Newark, New Jersey) and Prudential Investment Management Services LLC (CRD #18353, Newark, New Jersey) submitted a Letter of Acceptance, Waiver and Consent in which they were censured, fined $525,000, jointly and severally, and required to conduct an audit and prepare written findings regarding their compliance with NASD
rules relating to the filing, approval and recordkeeping requirements for advertisements and sales literature.
Without admitting or denying the findings, the firms consented to the described sanctions and to the entry of findi...
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 Guiliano Law Firm Files Action Against Stockbroker and Issuer of Unregistered Securities
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The Guiliano Law Firm filed a series of actions, both in federal district ...
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Guiliano Law Firm Files Action Against Stockbroker and Issuer of Unregistered Securities
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The Guiliano Law Firm filed a series of actions, both in federal district ...
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Former J.P. Turner Broker Sean Sheridan Barred By FINRA for Short Term Trading of Investment Company Shares
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The Financial Industry Regulatory Authority (FINRA) found that Sean M. She...
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Charles Schwab’s Class Action Prohibition Antics May Inspire Death Knell to Mandatory Securities Arbitration.
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Will the SEC Listen to Congress or NAASA and act Under Dodd-Frank Wall Str...
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The Retirement Gamble Facing Us All
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If you’ve been watching any commercial television lately, you are we...
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FINRA Offers Injured Investors Do it Yourself Litigation Resources.
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According to FINRA Dispute Resolution ...
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Knott’s Berry Farm Granddaughter Files $8.5M Securities Fraud Claim Against LPL Financial L.L.C.
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Maureen Sloan, 63, of Newport Beach, Calif., claims former LPL Financial L...
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Illinois Stockbroker Found to Have Stolen $16 million from His Customers
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A federal court for the District Court for the Central District of Illinoi...
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Securities Arbitration Lawyer Nicholas J. Guiliano Scheduled to Speak at Rutgers Law School April 12, 2013
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Nicholas J. Guiliano, Esquire of the Guiliano Law Firm, P.C. is scheduled ...
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SEC to FINRA: Your Dirty Laundry Is Safe With Us
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As Justice Louis D. Brandies once said not in a legal opinion, but in a bo...
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