Insights
October 19, 2016
Paul Lebel, a broker formerly with LPL Financial from 2008 to 2014, was barred by the SEC for churning and excessively trading mutual funds in customer accounts and generating excess fees. [su_spacer ...
October 17, 2016
FINRA barred former Waddell & Reed Inc. broker Gregory Bauer from the securities industry for making over $400,000 in unauthorized withdrawals from his parents’ accounts. [su_spacer size=...
October 10, 2016
The Texas State Securities Board has banned broker Mickey Long from recommending alternative investments, including nontraded REITs, after he concentrated a client’s account with too many such i...
October 7, 2016
An annuity exchange allows brokers to transfer an investor’s funds in an annuity to a new policy without incurring tax penalties. IMS Securities, a small broker-dealer firm, was fined $100,000 b...
September 30, 2016
According to a recent Investment News article , First Heartland Capital broker Jerome Scott Krause must pay $600,000 in damages to an elderly Wisconsin couple. The couple alleged Krause abused his pos...
September 22, 2016
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September 15, 2016
FINRA announced that it has fined Ameriprise Financial Services $850,000 for failing to detect that a broker was moving customer money to a business account for personal profit. The registered represe...
July 14, 2016
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July 14, 2016
FINRA banned Winston Wade Turner, a former Prudential Financial Inc. and MetLife Inc. broker, from the securities industry for making unsuitable variable annuity recommendations. Turner misled clients...
June 30, 2016
The SEC has banned Massachusetts resident Lee Weiss from the brokerage and investment advisory industry for a fraudulent scheme pertaining to a French company that claimed it could reduce the harmful ...
June 28, 2016
Last week, former Merrill Lynch broker Kenneth Daley submitted a Letter of Acceptance, Waiver and Consent in which he accepted a permanent bar from acting as a broker or otherwise associating with fir...
June 22, 2016
FINRA has suspended former LPL Financial broker and supervisor Peter Neuberg for six months and has fined him $15,000 after failing to reasonably supervise a registered representative, according to th...
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