Lufrano Law, LLC

Category: Content
Type: Blog Article

Generated 1 week ago

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Lufrano Law, LLC

Category: Content
Type: Blog Article

Generated 2 weeks ago

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Lufrano Law, LLC

Category: Content
Type: Blog Article

Generated 3 weeks ago

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  • FINRA Brings Complaint against National Securities Corporation Broker Glenn McDowell for Unauthorized Transactions

    On October 28, 2016, the Financial Industry Regulatory Authority (FINRA) filed a complaint against Glenn McDowell (McDowell) in connection with allegations McDowell executed 18 unauthorized trades in a customer’s account.  If FINRA’s allegations are true and proved, then McDowell may be liable to the purchasers for investment damages or disciplined by FINRA, or both. ​McDowell (FINRA CRD No. ...

  • Former Raymond James Broker Richard Sampley Disciplined for Recommendations in Renewable Energy Company

    In October 2016, Richard Sampley (Sampley), a registered representative, settled a complaint with the Financial Industry Regulatory Authority (FINRA), which alleged he participated in outside business activities.  Specifically, FINRA alleged Sampley solicited customers to invest in an early stage renewable energy company, without notice to his firm.  Based upon these allegations, FINRA suspended S...

  • FINRA Suspends Former LPL Broker Mark Tauzin for Unsuitable Short-Term UIT Investment Recommendations

    The Financial Industry Regulatory Authority (FINRA) recently filed a complaint (Disc. Proceeding No. 2014043506501) against former LPL financial advisor Mark Tauzin (Tauzin).  The underlying basis of the complaint alleged Tauzin recommended unsuitable short-term unit investment trusts (UITs) in some of his clients’ accounts.  Tauzin settled the complaint with FINRA and accepted an eight-month susp...

  • Former UBS Broker Jeffrey Howell Barred for Sending False Statements

    Former UBS broker, Jeffrey Hamilton Howell (Howell), recently settled allegations with the Financial Industry Regulatory Authority (FINRA) following an enforcement action.  The underlying basis of the investigation involved allegations Howell created and sent his customer more than 300 false weekly "Stock Tracking Reports". As a consequence of Howell’s failure to cooperate with FINRA’s investigati...

  • Former Waddell & Reed Broker Gregory Bauer Barred for Conversion of Customer Funds (his Parents’ Funds)

    Gregory R. Bauer (Bauer) submitted a Letter of Acceptance, Waiver and Consent (“AWC”) pursuant to FINRA Rule 9216 of FINRA’s Code of Procedure to settle allegations he falsified signatures and stole $400,000 from his parents’ investment accounts, thereby committing fraud. As a result, the Financial Industry Regulatory Authority (FINRA) barred Bauer from the financial industry for life. Bauer...

  • FINRA Suspends Former Met Life Securities Broker Robert Lappin for Unsuitable Short-Term UIT Investment Recommendations

    The Financial Industry Regulatory Authority (FINRA) recently filed a complaint (Disc. Proceeding No. 2015044670801) against former Met Life Securities financial advisor Robert P. Lappin (Lappin).  The underlying basis of the complaint alleged Lappin recommended unsuitable short-term unit investment trusts (UITs) in some of his clients’ accounts.  Lappin settled the complaint with FINRA and accepte...

  • Former LPL Broker Michael Babyak Disciplined for Private Securities transactions

    In October 2016, Michael Babyak, Jr. II (Babyak), a registered representative, settled a complaint with the Financial Industry Regulatory Authority (FINRA), which alleged he participated in outside business activities.  Specifically, FINRA alleged Babyak solicited 4 customers to invest in a limited liability company he set up, without notice to his firm.  Based upon these allegations, FINRA barred...

  • Former Merrill Lynch Broker Alphonso Papa Barred for Failing to Cooperate with Investigation

    Former Merrill Lynch broker, Alphonso Joseph Papa (Papa), recently settled allegations with the Financial Industry Regulatory Authority (FINRA) following an enforcement action.  The underlying basis of the investigation involved Papa’s termination from Merrill Lynch. As a consequence of Papa’s failure to cooperate with FINRA’s investigation, FINRA permanently barred him from the financial industry...

  • Former LPL Broker Joseph Likens Barred for Failing to Cooperate with Investigation involving Private Transactions

    Former LPL Financial broker, Joseph Alan Likens (Likens), recently settled allegations with the Financial Industry Regulatory Authority (FINRA) following an enforcement action.  The underlying basis of the investigation involved allegations Likens engaged in private securities transactions. As a consequence of Likens’ failure to cooperate with FINRA’s investigation, FINRA permanently barred him fr...

  • Former Wells Fargo Broker Robert Batchen Suspended for Unauthorized and Unsuitable Trades in Customer’s Accounts

    The Financial Industry Regulatory Authority (FINRA) recently announced Robert James Batchen (Batchen) entered into a Letter of Acceptance, Waiver and Consent.  The settlement concerns allegations Batchen exercised discretion and recommended unsuitable leveraged and inverse Exchange-Traded Funds ('”Non-Traditional ETFs”) in a customer’s accounts.  As a result, Batchen was suspended from the financi...

Lufrano Law, LLC

Category: Content
Type: Blog Article

Generated 5 months ago

New blog articles detected

Lufrano Law, LLC

Category: Content
Type: Blog Article

Generated 5 months ago

New blog articles detected

  • Former First American Broker Thomas Brenner Disciplined for Private Placement Sales

    In August 2016, Thomas J. Brenner, Jr. (Brenner), a registered representative, settled a complaint with the Financial Industry Regulatory Authority (FINRA), which alleged he engaged in manipulative behavior in the sale of private placements.  Specifically, FINRA alleged Brenner performed inadequate due diligence; failed to have a reasonable basis to recommend the private placements to customers; a...

  • Former LPL Broker Paul Liebezeit Disciplined for Selling Sway Hedge Fund Investment

    In August 2016, Paul George Liebezeit (Liebezeit), a registered representative, settled a complaint with the Financial Industry Regulatory Authority (FINRA), which alleged he participated in a private securities transaction.  Specifically, FINRA alleged Liebezeit participated in a private securities transaction by recommending that potential investors, a married couple, invest in a fund of hedge f...

  • ProEquities Censured and Fined for Non-Traditional ETF Supervision

    The Financial Industry Regulatory Authority (FINRA) recently announced it censured and fined ProEquities, Inc. (“ProEquities”).  FINRA alleged ProEquities maintained inadequate supervisory systems and written supervisory procedures to monitor recommendations of complex products such as leveraged, inverse, or inverse-leveraged exchange traded funds (“'Non-Traditional ETFs”).  As a result, FINRA cen...

  • Former Citigroup Broker Hal Irving Marcus Suspended for Discretionary Trades in Customers’ Accounts

    The Financial Industry Regulatory Authority (FINRA) recently announced Hal Irving Marcus (Marcus) entered into a Letter of Acceptance, Waiver and Consent without admitting or denying the allegations.  The settlement concerns allegations Marcus effected 48 discretionary transactions without written authorization in the account of one of his customers.  As a result, Marcus was suspended from the fin...

  • Former LPL Broker Michael Barranco Disciplined for Outside Investment in TMG Senior Notes

    In August 2016, Michael J. Barranco (Barranco), a registered representative, settled a complaint with the Financial Industry Regulatory Authority (FINRA), which alleged he participated in private securities transactions.  Specifically, FINRA alleged Barranco participated in almost 40 private securities transactions with three different issuers without providing proper notice to his firm.  Based up...

Lufrano Law, LLC

Category: Content
Type: Blog Article

Generated 5 months ago

Lufrano Law, LLC

Category: Content
Type: Blog Article

Generated 5 months ago

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