Securities Fraud Lawyer Blog

J.R. Gladden suspended by FINRA.

In September, 2016, the Financial Industry Regulatory Authority (“FINRA”) announced that J.R. Gladden of La Mesa, CA a registered representative formerly with Securities Equity Group of El Cajon, CA submitted an acceptance, waiver and consent letter whereby he was suspended from association with any FINRA in any capacity for twelve months. The FINRA complaint alleged that J.R. Gladden participated in private securities transactions concerning sales of Church Fund, LLC and the Church Development Fund without receiving written approval from Securities Equity Group.  Gladden raised over two million dollars for the Church Fund and the Church Development Fund without notifying his firm, or allowing the firm to approve or investigate the circumstances surrounding the outside business activity. In addition, Gladden represented to Securities Equity Group that he was not engaged in any capital raising activities outside the firm.

Registration and disciplinary history

In September, 2016, the Financial Industry Regulatory Authority (“FINRA”) announced that Peter Alcure of Locust Valley, NY a registered representative with Petersen Investments of Locust Valley, NY  submitted an acceptance, waiver and consent letter whereby he was suspended from association with any FINRA for thirty days and fined $30,000. The FINRA complaint alleged that Peter Alcure settled a customer complaint without informing his member firm.  Alcure’s client had complained about losses to him, and rater than involve the firm in the process, which is required under FINRA rules, Allure privately settled the claim by sending the client 21 separate checks.

Registration and disciplinary history

In order to lawfully sell investments to the public,  a registered rep must either be registered or exempt from registration.  Peter Alcure has been registered with Petersen Investments, Inc. since October, 2009.