Securities Fraud Lawyer Blog

June 16, 2017

Accelerated Capital Group Named in Bad Broker Study

Accelerated Capital Group was named as a broker dealer that employs a large percentage of registered reps with publicly disclosable incidents.

A study commissioned by Reuters with the assistance of Columbia University Law School identified nearly fifty FINRA registered broker dealers where a large percentage of its brokers had “red flags” on their public disclosures. FINRA requires broker dealers like Accelerated Capital Group, as well as its registered representatives to update their industry record by disclosing information that could be of interest to potential and current customers and members of the public.

These red flags include customer disputes, arbitration claims, regulatory actions taken by FINRA the SEC or state regulators, civil actions, bankruptcies and terminations after allegations of wrongdoing.

May 20, 2017

Dan Levin Hit With $241,000 Arbitration Award

by David Liebrader

CPR Radio Show Host Dan Levin Hit With FINRA Arbitration Award

judgment-300x169
On May 19, 2017, a FINRA Dispute Resolution, Inc. arbitration panel issued a binding arbitration award against Dallas based financial planner Dan Levin, host of the CPR radio show, who markets his services through his company Comprehensive Planning for Retirement. The award is in the amount of $241,547, and represents 100% of what the Claimant requested from the arbitrators at the hearing. FINRA arbitration award against Dan Levin

Also named in the award is Scott Schroeder a disbarred financial planner, also from the Dallas area.

May 14, 2017

FINRA Bars Charles DeNormandie

by David Liebrader

Charles DeNormandie, a registered representative from Alpharetta, Georgia formerly with Commonwealth Financial Network and Ameriprise Financial Services 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

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.

May 14, 2017

Sandra Canaba Barred by FINRA

by David Liebrader

Sandra Canaba, a registered representative from Santa Teresa, New Mexico formerly with LPL Financial and Chase Investment Services 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

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.

May 14, 2017

Invest Broker Amanda Burnett Barred by FINRA

by David Liebrader

Amanda Burnett, a registered representative from Decatur, Georgia formerly with Invest Financial Corporation 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

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.

May 14, 2017

Merrill Broker Lionel Brooks Barred

by David Liebrader

Lionel Brooks, a registered representative from Cumberland, Rhode Island formerly with Merrill Lynch 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

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.

May 14, 2017

FINRA Bars John Boals

by David Liebrader

John Boals, a registered representative from Thompson, Ohio formerly with All State Financial Services 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

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.

May 12, 2017

Infinity Fuels Ryan Miguel Ordered to Cease and Desist

by David Liebrader

Ryan Miguel, Infinity Fuels hit with cease and desist order in Arizona.

On April 11, 2017 the Corporation Commissioner for the state of Arizona, acting through the Securities Division issued a cease and desist order against Ryan Miguel, a former registered representative with Merrill Lynch for violations of the Securities Act of Arizona, specifically section 44-1801. As a result of the cease and desist order Miguel had his license to sell securities in Arizona revoked.

The Securities Divisions’ complaint stems from an investigation into Infinity Fuels, a Nevada Corporation, which issued securities via a non-exempt private placement. Infinity Fuels was a startup company that purportedly was raising money to develop “waste to fuel” refinery capabilities. Miguel served as the chief development officer and was on the board of directors for Infinity Fuels. The Corporation Commissioner also found that Miguel made misstatements of material fact during the sales presentation for Infinity Fuels, which resulted in a customer being misled about the prospects of the company, and the return on the investment.

May 11, 2017

Jared Artho Barred by FINRA

by David Liebrader

Jared Artho, a registered representative from College Station, Texas formerly with JP Morgan 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

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.

May 11, 2017

FINRA Bars Broker Frank Scarso

by David Liebrader

Frank Scarso, a registered representative from Staten Island, NY, formerly with First Standard Financial, PHX Financial, Alexander Capital, Clark Dodge & Company and others 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

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.