Tag Archives: Miami Securities Fraud Lawyer
FINRA Accuses Florida Brokerage Firm of Failure to Establish and Maintain a Proper Supervisory System
On January 9th, 2018, the Financial Industry Regulatory Authority (FINRA) submitted a Letter of Acceptance, Waiver and Consent (“AWC”) regarding allegations of misconduct involving Spartan Securities Group, Ltd. (CRD#: 104478), a brokerage firm based in Clearwater, Florida. In this post, our Miami investment fraud lawyers highlight the alleged violations by Spartan Securities Group. To… Read More »
Florida Broker Fined, Suspended for Unreported Private Securities Transactions
Recently, the Financial Industry Regulatory Authority (FINRA) announced that it was issuing a $10,000 fine and a three-month suspension against registered securities broker Gabriel William Hynes (CRD #3152541). Mr. Hynes was most recently employed at NYLIFE Securities LLC, and he worked out of a branch that was located in St. Augustine, Florida. According to… Read More »
Miami Broker Who Falsified Account Statements Barred From the Securities Industry
Recently, the Financial Industry Regulatory Authority (FINRA) reported that registered broker Lorenzo C. Esteva (CRD#: 2170595) has been permanently barred from the securities industry. Mr. Esteva was most recently employed at the Miami office of Merrill Lynch (1991-2015) and the Miami office of UBS Financial Services (2015-2017). In the past two years, at least… Read More »
Miami Brokerage Firm Censured and Fined for Selling Bonds at Unfair Prices
FINRA’s Department of Market Regulation has fined a Miami, Florida-based broker-dealer $65,000 for improperly reporting transactions and selling corporate bond securities at an unfair price to investors. Global Strategic Investments, LLC (CRD#: 117028), a brokerage firm licensed to operate in Florida and five other U.S. states was accused of failing to report the proper… Read More »
South Florida Financial Advisor Pushed Clients Into Unsuitable Investments
Christopher Robert Hickman (CRD No. 3267599), a general securities broker from Delray Beach, Florida, has been suspended from the industry for five months, fined $5,000 and ordered to pay more than $115,000 in financial restitution to six different investors. Without admitting to or denying any wrongdoing, Mr. Hickman, who is employed at Cetera Investments… Read More »
Florida Brokerage Firm Expelled for Selling Unregistered Securities, Providing False Documents
In 2015, Merrimac Corporate Securities, an Altamonte Springs, Florida-based brokerage firm, was permanently barred from the securities industry for misconduct. The firm, along with one of its principals, had filed an appeal on the decision. On May 26th, 2017, a final decision was reached. FINRA’s National Adjudicatory Council (NAC) affirmed the initial ruling (2011027666902),… Read More »
FINRA Takes Disciplinary Action Against New Jersey Financial Adviser
The Financial Industry Regulatory Authority (FINRA) recently suspended Alex Etter for two years for misconduct he committed while he was a registered financial adviser. According to investigators, Etter put his personal financial interests and the interests of his firm ahead of that of his clients. In doing so, his brokerage company netted more than… Read More »
FINRA Takes Disciplinary Action Against Two Florida Companies
According to reporting from the South Florida Business Journal, two Boca Raton companies, Newbridge Securities Corp and Shearson Financial Financial Services LLC, have been disciplined by the Financial Industry Regulatory Authority (FINRA). Newbridge was accused of overcharging customers in relation to sales orders, as a result they have agreed to pay a fine of… Read More »
Financial Adviser Induced Investments with False Statements, Stole from Client
According to a press release from the Securities and Exchange Commission (SEC), Nicholas M. Mitsakos, a California-based financial adviser, stole more than $800,000 from a client. Using his company Matrix Capital Markets, LLC, Mr. Mitsakos took in more than $2 million from the client before siphoning off 40% of the investment for his own… Read More »
Morgan Stanley Advisor found Guilty of Churning, Having Affair with Married Client
Morgan Stanley financial advisor Ami Forte purportedly had more than a decade-long affair with client and co-founder of the Home Shopping Network, Roy Speer, and made 12,000 thousand unauthorized trades on Speer’s account and generated $40 million in fees, according to an Investment News report. Speer’s widow filed a FINRA arbitration proceeding against Forte… Read More »
