Articles Posted in FINRA Membership Suspended

FINRA suspends Waco Texas broker Michael Kamperman for 20 months

Michael Kamperman, a registered representative from Waco, Texas, formerly with H.D. Vest Investment Services and Prospera Financial Services, was suspended from FINRA membership as a result of an investigation into securities related activity conducted by regulator FINRA.  Findings made in FINRA’s “Acceptance, Waiver and Consent”  order included details of Kamperman making unsuitable investments, and over concentrating customer accounts in speculative, high risk oil and gas investments, as well as his recommendation of an inappropriate long term investment strategy involving an inverse, exchange traded note that was intended only for a short a term investment.  Kamperman entered into an acceptance waiver and consent agreement with FINRA in which he neither admitted nor denied the findings, but agreed to a suspension of 20 months and a fine of $20,000.

In June 2019, Michael Kamperman agreed to the suspension and FINRA published its findings that he made unsuitable investments in the retirement accounts of eight customers.  These unsuitable investments took the form of overconcentration in risky oil and gas industry investments, as well as the improper use of an exchange traded note that is designed for short term trading. Instead, the findings state that Kamperman recommended the note for a long term hold, thereby causing the client losses.

Nina Jessee barred for refusing to cooperate with a FINRA investigation.

Nina Jessee, a registered representative from Abingdon, Virginia, formerly with Cetera Advisors and Investors Capital Corp., was barred from FINRA membership as a result of her refusing to cooperate with a FINRA investigation into her recommendation of alternative inestments, and allegations she engaged in outside business activities. After receiving notice from FINRA of the investigation Jessee, though her counsel, notified FINRA that she would not appear for an interview conducted by FINRA as part of their investigation.  As a result of her refusal to cooperate, Nina Jessee was barred from FINRA in any capacity in June, 2019.

FINRA opened the investigation in December, 2018 as a result of a series of customer complaints that had been filed alleging overconcentration and suitability.  In addition, as part of their investigation, FINRA was looking into Jessee’s sales of alternative investments, and whether she engaged in outside busieness activities.

Hossein Amirriahei, a registered representative from Los Angeles, California, formerly with Wells Fargo Advisors was barred from FINRA membership as a result of failing to cooperate with a FINRA investigation.

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

This FINRA rule provides if a FINRA member fails to provide information or testimony requested or required by FINRA’s By-Laws or FINRA rules, or fails to keep his or her membership and supporting documents current, FINRA, after providing  21 days’ notice may suspend the FINRA membership of the person. If the suspension is not challenged within 90 days, FINRA may bar the individual.

FINRA bars JP Morgan broker Jon Levano.

Jon Levano, a registered representative from Reseda, California, formerly with J.P. Morgan Securities’ Woodland Hills office was barred from FINRA membership as a result of failing to cooperate with a FINRA investigation.

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

Lake Elmo broker Jeff Kluge barred by FINRA.

Jeff Kluge, a registered representative from Lake Elmo, Minnesota, formerly with Merrill Lynch’s St. Paul, MN office was barred from FINRA membership as a result of failing to cooperate with a FINRA investigation.

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

Alonza Barnett, (Al Barnett) a registered representative from Greensboro, North Carolina, formerly with Ameritas Investment Corp was barred from FINRA membership as a result of failing to cooperate with a FINRA investigation.

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

This FINRA rule provides if a FINRA member fails to provide information or testimony requested or required by FINRA’s By-Laws or FINRA rules, or fails to keep his or her membership and supporting documents current, FINRA, after providing  21 days’ notice may suspend the FINRA membership of the person. If the suspension is not challenged within 90 days, FINRA may bar the individual.

FINRA bars Lonnie Nguyen aka Luan Nguyen.

Lonnie Nguyen, a registered representative from Irvine, California, formerly with Pruco Securities was barred from FINRA membership as a result of failing to cooperate with a FINRA investigation.

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

Quinn McClendon is barred by FINRA.

Quinn McClendon, a registered representative from Philadelphia, PA, formerly with Citizens Securities, Mutual of Omaha Investors Services and Wells Fargo Advisors was barred from FINRA membership as a result of refusing to cooperate with a FINRA investigation.

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

FINRA bars Barry Jin of Fresh Meadows, NY

Barry Jin, (aka Boqian Jin) a registered representative from Fresh Meadows, NY, formerly with Spartan Capital, Lampert Capital, PHX Financial and John Carris Securities was barred from FINRA membership as a result of refusing to cooperate with a FINRA investigation.

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

Michael Quiles of LPL Financial was suspended by FINRA.

Michael Quiles, a registered representative from Commack, NY, formerly with LPL Financial, Metlife Securities and AXA Advisors was suspended from FINRA membership.  In February, 2016 he was discharged from LPL after receiving a loan from a non client, a violation of LPL’s policy.

FINRA Rule 9552. Failure to Provide Information or Keep Information Current