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Tag: FINRA Sales Practice Violations

Recent Financial Advisor Terminations: Reid Andrew, Walter Hall, Craig Norton, and Lee Rycraft

February 23, 2022

Recent FINRA Sanctions of FInancial Advisors for Impropriety. Park Avenue Securities LLC Reid Andrew Suspended from Securities Industry Reid C. Andrew (“Reid Andrew”) a California-based...

RICHARD WESSELT INVESTOR ALERT: National Investor Fraud Law Firm KlaymanToskes Announces Investigation of FINRA Barred Financial Advisor Richard Wesselt

November 04, 2021

Financial Advisor Richard Wesselt has been barred by FINRA. FINRA barred financial advisor Richard Wesselt made unsuitable recommendations that did not take into account his...

LPL FINANCIAL, LLC MICHAEL HARTLETT INVESTOR ALERT: National Investor Fraud Law Firm KlaymanToskes Announces Investigation after Financial Advisor Michael Hartlett Consents to Suspension and Fine

October 29, 2021

Michael Hartlett consents to FINRA suspension and fine for discretionary trading in an investor's account without prior written authorization in a Letter of Acceptance, Waiver,...

FINRA Fines Independent Financial Group $200,000 for Failure to Supervise Alternative Investment Recommendations

June 30, 2021

Recently, the Financial Industry Regulatory Authority (FINRA) sanctioned and fined Brokerage Firm, Independent Financial Group (IFG), for the failure to supervise recommended Alternative Investments in...

ATTENTION SPAC INVESTORS: KlaymanToskes Investigates Losses in Excess of $250,000 from Investments in Electric Vehicle Industry Stocks Recommended by Full-Service Brokerage Firms

April 30, 2021

KlaymanToskes announces an investigation on behalf of investors who sustained losses in excess of $250,000 in Electric Vehicle Industry Stock investments funded through Special Purpose...

BDC INVESTOR ALERT: KlaymanToskes Investigates Investor Losses in Response to Medley Capital Bankruptcy Filing Attributed to Portfolio Loan Losses Related to the COVID Pandemic

April 29, 2021

KlaymanToskes, announces their investigation on behalf of investors into Business Development Companies (“BDCs”), Medley Capital and Sierra Income Corp.  On March 7, 2021, Medley Capital...

BDC INVESTOR ALERT: Medley Capital Corp Files for Bankruptcy Protection in the Wake of Portfolio Loan Losses Attributed to the COVID Pandemic

April 05, 2021

On March 7, 2021, Medley Capital Corp. (NYSE: MCC), a direct subsidiary of Medley Management Inc. (NYSE: MDLY), filed for Bankruptcy Protection from creditors –...

FINRA Fines VALIC Financial Advisors $350,000 for Failure to Supervise Variable Annuity Sales Practices

March 19, 2021

On January 8, 2021, VALIC Financial Advisors agreed to a Letter of Acceptance, Waiver and Consent (AWC) (Case No. 2018060548501)  which included a Fine of...

NOTICE TO WORKHORSE GROUP SHAREHOLDERS: Securities Law Firm KlaymanToskes Comments on Recent Class Action Lawsuit in Electric Vehicle Company

March 16, 2021

Boca Raton, Florida -- March 16, 2021 -- The Securities Law Firm of KlaymanToskes provides notice to all Workhorse Group, Inc. (NYSE:WKHS) shareholders concerning the...

FINRA Fines Cetera $1 Million for Failure to Supervise Private Securities Transactions in Client Accounts

February 26, 2021

FINRA recently disclosed that Cetera Advisor Networks LLC, Cetera Advisors, LLC and Cetera Financial Specialists, LLC, (Cetera Firms) agreed to an Acceptance, Waiver and Consent...

FINRA Suspends Madison Avenue Securities Broker for Mutual Fund Sales Practice Violations

February 11, 2021

In November 2020, the securities industry watchdog, the Financial Regulatory Industry Authority (“FINRA”) suspended, Vincent Anthony Virga, after an Acceptance, Waiver and Consent (AWC) Order...

ATTENTION CURRENT AND FORMER UBS CUSTOMERS WITH YES ACCOUNT LOSSES: KlaymanToskes Continues to Investigate and Pursue Claims to Recover Investment Losses

April 28, 2020

KlaymanToskes, www.klaymantoskes.com, continues to  investigate and pursue claims to recover investment losses suffered by investors in UBS’s (NYSE:UBS) Yield Enhancement Strategy (“YES”). KT has recently...

ATTENTION INVESTORS AT FULL-SERVICE BROKERAGE FIRMS WITH FINANCIAL ADVISORS: FINRA Arbitration is the Best Means to Recovering Losses Suffered Due to Market Volatility Caused by COVID-19

April 21, 2020

KlaymanToskes, www.klaymantoskes.com, is investigating the damages sustained by investors at full-service brokerage firms who held large, unhedged concentrated positions, margin accounts, unsuitable asset allocations, or...

ATTENTION GOLDMAN SACHS MLP AND ENERGY RENAISSANCE FUND (GER) INVESTORS – KlaymanToskes commences investigation on behalf of GER Investors Who Sustained Losses in Excess of $250,000 as a Result of a Recommendation from their Financial Advisor

April 21, 2020

KlaymanToskes, https://klaymantoskes.com, announces an investigation on behalf of investors who sustained losses from the purchase of Goldman Sachs MLP and Energy Renaissance (NYSE:GER) (“GER”), a...

NOTICE TO UBS PUERTO RICO CUSTOMERS: KlaymanToskes and Carlo Law Offices File $15 Million FINRA Claim Against UBS for Concentration in Puerto Rico Government Bonds and Closed-End Bond Funds in the Wake of Puerto Rico’s Bankruptcy Filing

May 05, 2017

San Juan, Puerto Rico.  May 5, 2017 -- The Securities Arbitration Law Firm of KlaymanToskes, www.sueubspuertorico.com, together with Carlo Law Offices, P.S.C. located in Puerto...

Texas E&P Partners Expelled By FINRA for Misconduct Related to Chestnut Exploration Partners

March 30, 2017

Released March 2017 Texas E&P Partners, Inc. fka Chestnut Exploration Partners, Inc. (CRD #127228 , Richardson, Texas) and Mark Allan Plummer (CRD #4608699 Richardson, Texas)....

Broker Barred by FINRA for Excessive Trading in Client IRA Accounts

March 28, 2017

Released March 2017 Richard Gomez (CRD #4727721, Jackson Heights, New York) submitted an AWC in which he was suspended from association with any FINRA member...

Another Investor Lawsuit Filed Over Puerto Rico Bonds

January 17, 2017

Caribbean News January 16, 2017 SAN JUAN, Puerto Rico -- A securities arbitration law firm on Friday filed a claim against UBS Financial Services Inc....

NOTICE TO UBS PUERTO RICO CUSTOMERS: KlaymanToskes Files $8.5 Million Suit Against UBS as it Investigates Claims for Over-Concentration in Puerto Rico Government Bonds and Closed-End Bond Funds

January 13, 2017

San Juan, Puerto Rico.  January 13, 2017 -- The Securities Arbitration Law Firm of KlaymanToskes, www.sueubspuertorico.com, together with Carlo Law Offices, P.S.C. located in Puerto...

NOTICE TO MERRILL LYNCH PUERTO RICO BOND AND BOND FUND INVESTORS: KlaymanToskes Continues to Investigate FINRA Arbitration Claims against Merrill Lynch for its Margin Lending Practices Related to Concentrated Investments in Puerto Rico Bonds and Bond Funds

December 05, 2016

San Juan, Puerto Rico--December 5, 2016.  The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com, continues to investigate FINRA arbitration claims against Merrill Lynch, a subsidy...

FINRA Fines Broker $219,000 for Private Placement Violations

November 14, 2016

Thomas Edward Brenner Jr. (CRD #1489233, Orrville, Ohio) submitted an AWC in which he was assessed a deferred fine of $30,000, suspended from association with...

FINRA Fines Eight Firms a Total of $6.2 Million for Supervisory Failures Related to Variable Annuity L-Shares

November 03, 2016

Released November 2, 2016 WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that it has fined eight firms, including VOYA Financial Advisors, five...

FINRA Submits Rule to SEC to Protect Against Elderly Financial Fraud

October 25, 2016

The Financial Industry Regulatory Authority (FINRA) has submitted new rule changes for the Securities Exchange Commission (SEC) to approve which is designed to help prevent...

SEC Bars LPL Financial advisor, Paul Lebel for Churning Client Mutual Fund Investments

October 24, 2016

On October 18, 2016, the Securities Exchange Commission (SEC) barred LPL Financial advisor, Paul Lebel for churning and excessively trading mutual funds in customer accounts...

NOTICE TO WELLS FARGO BROKERAGE CUSTOMERS — The Securities Arbitration Law Firm of KlaymanToskes Continues Wells Fargo Advisors Investigation — California AG Issues Search Warrant

October 21, 2016

New York, NY -- October 21, 2016 -- The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com, continues to investigate Wells Fargo Advisors for potential Financial...

FINRA Sanctions Securities America for Not Offering Certain Clients Mutual Fund Discounts

October 18, 2016

In September 2016, the Financial Industry Regulatory Authority (FINRA) sanctioned Securities America for Mutual Fund Sales Practice Violations. Securities America, Inc. (CRD #10205, La Vista,...

Morgan Stanley Clients — The Securities Arbitration Law Firm of KlaymanToskes Opens Investigation into Morgan Stanley for Securities Violations Related to Solicitations for Portfolio Loan Accounts

October 14, 2016

New York, NY -- October 14, 2016 -- The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com, has opened an investigation into potential Financial Industry Regulatory...

Wells Fargo Brokerage Customer Alert — The Securities Arbitration Law Firm of KlaymanToskes Opens Investigation into Wells Fargo “Cross-Selling” Efforts for Violations of Securities Industry Regulations

October 10, 2016

New York, New York – October 10, 2016 -- The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com, has opened an investigation into potential Financial Industry...

UPS EMPLOYEE/SHAREHOLDER ALERT: The Securities Arbitration Law Firm of KlaymanToskes Files $500,000 FINRA Arbitration Claim on Behalf of a UPS Employee for Losses Sustained as a result of Merrill Lynch’s Unsuitable Recommendation to Invest in Rampart Options Management Services Program

August 26, 2016

NEW YORK August 26, 2016 (GLOBE NEWSWIRE) -- The securities arbitration law firm of KlaymanToskes, www.klaymantoskes.com, has filed a $500,000 FINRA arbitration claim [FINRA Case...

METLIFE VARIABLE ANNUITY ALERT — Securities Arbitration Law Firm of KlaymanToskes Announces Investigation of MetLife Securities Misconduct in Light of $25 Million in Fines and Restitution Imposed By FINRA

August 12, 2016

New York, New York (Globe Newswire) -- August 12, 2016 -- The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com, announces investigation of MetLife Securities Inc....

BUSINESS DEVELOPMENT COMPANY (BDC) INVESTOR ALERT: The Securities Arbitration Law Firm of KlaymanToskes Opens Investigation into Potential Brokerage Firm Violations Related to Sale of Non-Traded Business Development Companies in Response to FINRA Targeted Examination Letter

August 10, 2016

New York (Globe Newswire) – August 10, 2016 – The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com, has opened an investigation into potential brokerage firm...

Notice to Clients of Andrew Yocum and Morgan Stanley: The Securities Arbitration Law Firm of KlaymanToskes has Commenced an Investigation in Light of Recent Regulatory Action Barring Andrew Yocum from Acting as a Broker

August 02, 2016

New York (Globe Newswire) – August 2, 2016 – The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com, has commenced an investigation in light of recent...

The Securities Arbitration Law Firm of KlaymanToskes Continues to Investigate and Pursue FINRA Arbitration Claims Against VSR Financial Services for Sales Practice Violations Related to Non-Traded Alternative Investments

April 06, 2016

New York (Globe Newswire) – April 7, 2016 – The Securities Arbitration Law Firm of KlaymanToskes www.klaymantoskes.com, announced today that it is continuing to investigate...

Notice to Franklin Square Energy and Power Fund Investors: The Securities Arbitration Law Firm of KlaymanToskes Launches Investigation into Potential FINRA Sales Practice Violations by Brokerage Firms

April 06, 2016

Boca Raton (Globe Newswire) – April 7, 2016 – The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com, announces that it is conducting an investigation into...

Correction – The Securities Arbitration Law Firm of KlaymanToskes Launches Investigation into Potential Sales Practice Violations by Cetera Advisors Related to Solicited Investments in Non-Traded REITs and BDCs

April 01, 2016

New York (Globe Newswire) – April 1, 2016 – In a release issued under the headline “The Securities Arbitration Law Firm of KlaymanToskes Launches Investigation...

The Securities Arbitration Law Firm of KlaymanToskes Launches Investigation into Cetera Advisors Sales Practice Violations Related to Solicited Investments in Non-Traded REITs and BDCs

March 24, 2016

New York (Globe Newswire) – March 24, 2016 – The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com, announces an investigation into Financial Industry Regulatory Authority (FINRA)...

Notice to All United Development Funding IV Investors with Losses in Excess of $250,000 from the Securities Arbitration Law Firm of KlaymanToskes

March 02, 2016

New York (Globe Newswire) – March 2, 2016 – The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com, provides notice to all United Development Funding IV (NASDAQ:UDF)...

The Securities Arbitration Law Firm of KlaymanToskes Launches Investigation into Sales Practice Violations of Brokerage Firms Related to United Development Funding IV Non-Traded REIT and Initial Public Offering

February 26, 2016

Boca Raton, Florida (BUSINESSWIRE) – February 26, 2016 – The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com, launches an investigation into Financial Industry Regulatory Authority...

KlaymanToskes Wins $2.25 Million FINRA Arbitration Award in Favor of Retired UPS Executive With Concentrated Stock Position Against Citigroup Global Markets

February 10, 2016

Boca Raton, Florida (GLOBE NEWSWIRE) February 10, 2016 – The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com announced a major victory today in winning a...

The Securities Arbitration Law Firm of KlaymanToskes Continues to Investigate Sales Practices Related to UBS ETRACS ETNs

January 20, 2016

Boca Raton, Florida (BUSINESSWIRE) – January 20, 2016 – The Securities Arbitration Law Firms of KlaymanToskes, www.klaymantoskes.com, continues to investigate Financial Industry Regulatory Authority (FINRA)...

The Securities Arbitration Law Firms of KlaymanToskes and Carlo Law Offices Announce Investigation of Santander Securities, LLC on Behalf of Puerto Rico Investors for FINRA Sales Practice Violations

October 13, 2015

The Securities Arbitration Law Firms of KlaymanToskes and Carlo Law Offices Continue to  Investigate Santander Securities, LLC on Behalf of Puerto Rico Investors for FINRA...

The Securities Arbitration Law Firm of KlaymanToskes Announces Investigation into UBS ETRACS ETNs Linked to Declining Energy and Commodity Prices

October 09, 2015

Boca Raton, Florida (BUSINESSWIRE) – October 9, 2015 – The Securities Arbitration Law Firms of KlaymanToskes, www.klaymantoskes.com, announces an investigation into UBS Financial Services, Inc....

The Securities Arbitration Law Firm of KlaymanToskes Investigates Claims of Customer Losses from Concentrated UPS Stock Positions Managed in Merrill Lynch’s Rampart Options Management Service (ROMS) Program

September 18, 2015

Boca Raton, Florida (GLOBE NEWSWIRE) September 18, 2015 -- The securities arbitration law firm of KlaymanToskes, www.klaymantoskes.com, announced today that it is investigating Financial Industry...

The Securities Arbitration Law Firm of KlaymanToskes Announces Investigation into Virtus AlphaSector Funds Managed by F-Squared Investments

June 25, 2015

Boca Raton, Florida (GLOBE NEWSWIRE) June 25, 2015 -- The securities arbitration law firm of KlaymanToskes, www.klaymantoskes.com, announced an investigation into sales practices related to...

LPL Financial LLC Ordered To Pay Restitution To Investors and Fines To FINRA for Failure To Supervise Sale of Non-Traded REITs, Variable Annuities and Exchange Traded Funds

May 08, 2015

Financial Industry Regulatory Authority (FINRA) sanctioned LPL Financial, LLC with fines of $10 million for, “broad supervisory failures in a number of key areas, including...

National Senior Investor Initiative Report Points To Need For Elder Financial Fraud Protection

May 01, 2015

A recent report published by securities industry regulators concerning brokerage firm examinations in 2013 that led to important insights concerning brokerage firm sales practices directed...

Proposed Rule Change Protect Investors Retirement Funds From Abusive Brokerage Firm Sales Practices

April 21, 2015

The proposed rule change proposed by the Department of Labor (DOL) are directed towards a multi-trillion dollar industry IRA Rollover industry from employer sponsored retirement...

Why Puerto Rico Investors Pursuit of Tax Free Income Led to Financial Ruin

April 16, 2015

UBS Financial Services of Puerto Rico and its financial advisors have placed investors in great peril chasing tax-free income through investments in UBS Puerto Rico...

What Legal Recourse Exists For Hedge Fund Investors In BlackGold Opportunity Fund LP?

April 10, 2015

The collapse in oil prices has hit hard investment strategies focused on the oil and energy sector for many investors, both retail and high net...

FINRA Launches Revamped Website to Assist Investors Make Better Investment Decisions

April 07, 2015

What lies behind a hand shake, smile and a promise from a financial advisor you have just met when we are looking for investment advice?...

The Securities Arbitration Law Firm of KlaymanToskes Investigates UBS Financial Services in Connection With the Sale of UBS V10 Enhanced FX Carry Strategy

February 27, 2015

Boca Raton, Florida (BUSINESSWIRE) February 27, 2015 – The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com announced today that it is currently investigating UBS Financial...

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