Insights
January 10, 2022
WestPark Capital, of Los Angeles California, and its CEO, Richard Rappaport, have been sanctioned and fined $280,000 collectively by the Financial Industry Regulatory Authority (“FINRA”) for misrepres...
January 6, 2022
Merrill Lynch has been fined $1.5 million by the Financial Industry Regulatory Authority (“FINRA”) for its failure to implement written supervisory procedures and systems reasonably designed to achiev...
January 3, 2022
NYLIFE Securities LLC has been censured and fined by the Financial Industry Regulatory Authority (“FINRA”). According to FINRA’s findings of fact , NYLIFE failed to take reasonable steps to review its...
November 17, 2021
On October 28, 2021, the Securities and Exchange Commission (SEC) charged Kenneth Welsh with stealing approximately $3 million from his clients. Welsh allegedly used the money to buy gold coins and ot...
August 18, 2021
The SEC has obtained a court order to stop Santa Fe, New Mexico financial advisor Martin Adrian Ruiz’s alleged ongoing offering fraud. According to the SEC complaint , Ruiz induced at least 56 investo...
August 13, 2021
Dwight Dykstra (“Dykstra”), a Maitland, Florida stockbroker, has been suspended from acting as a broker for one year by the Financial Industry Regulatory Authority (“FINRA”). Dykstra allegedly engaged...
July 9, 2021
Xiangyu “Sean” Zhang has been indefinitely barred from association with any Financial Industry Regulatory Authority (“FINRA”) member in all capacities as of August 2019. Zhang was previously registere...
July 2, 2021
Michael Ecker, a stockbroker in Concorde Investment Services’ Wellington, FL branch office, has been named in two customer disputes filed with the Financial Industry Regulatory Authority (“...
May 12, 2021
The Securities and Exchange Commission (“SEC”) announced on April 26, 2021 , that it filed an emergency action and obtained an asset freeze to stop an alleged ongoing fraudulent Ponzi scheme. The SEC ...
April 9, 2021
An arbitration panel for the Financial Industry Regulatory Authority (“FINRA”) has entered a $4.6 million award against Interactive Brokers and Charles Schwab in a case brought by over two dozen custo...
April 6, 2021
The SEC has charged Aequitas Capital Management and a number of its executives with allegedly running a Ponzi scheme, which could have defrauded Oregon investors out of $350 million. The Frankowski Fi...
April 6, 2021
The Frankowski Firm is currently investigating claims of unsuitable and misrepresented sales of Puerto Rican municipal bonds by Wedbush Securities and stockbroker Mark Augusta. The NYSE regulatory bod...
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