Ben Halali suspended.
Ben Halali, a registered representative from Morgan Hill, CA formerly with Allstate Financial and MML Investors Services, both of San Jose, CA was suspended from FINRA membership for violations of Rule 9552
Assan Faal suspended by FINRA.
Assan Faal, a registered representative from Desplaines, Illinois formerly with Stifel Nicolaus and Sterne Agee was suspended from FINRA membership for violations of Rule 9552
Phillip Donnan barred by FINRA.
Phillip Donnan, a registered representative from Easley, SC formerly with AXA Advisors of Piedmont, SC was suspended from FINRA membership for violations of Rule 9552
Matthew Cocco suspended by FINRA.
Matthew Cocco, a registered representative from Jackson, NJ formerly with MetLife Securities, of Wall Township, NJ was suspended from FINRA membership for violations of Rule 9552
Mohamed Baksh Barred.
Mohamed Baksh, a registered representative from Dumont, NJ formerly with PFS Investments of Rockaway, NJ and Duluth, GA was suspended from FINRA membership for violations of Rule 9552
FINRA bars broker Virgil Santos.
Virgil Santos, a registered representative from Cerritos, CA formerly with All State Financial Services, also of Cerritos was suspended from FINRA membership for violations of Rule 9552
Jim Harrington barred by FINRA.
Jim Harrington, a registered representative from Livermore, CA formerly with State Farm VP Management of Bloomington, IL was suspended from FINRA membership for violations of Rule 9552
Aaron Armstrong barred by FINRA.
Aaron Armstrong, a registered representative from Stamford. CT, formerly with NY Life Securities, of New York, NY was suspended from FINRA membership for violations of Rule 9552
Allegis Investment Advisors’ risky options strategy causes losses.
The Law Office of David Liebrader has opened an investigation into Allegis Investment Advisors’ program of placing investors’ funds into discretionary managed brokerage accounts that utilized a proprietary “options trading strategy.”
The strategy consisted of simultaneously buying and selling “index options” based on the Russell 2000 Index. Allegis bought and sold identical quantities of “put options” at exercise strike prices below the then current market price of the index.
FSC Securities was ordered to pay an investor $60,000.
In February, 2016, a three member FINRA arbitration panel sitting in Pittsburgh, PA issued a $60,000 binding arbitration award against brokerage house FSC Securities.
The underlying matter involved allegations that FSC Securities mismanaged a customer account, breached fiduciary duties and failed to follow industry rules and standards The Claimants’ causes of action related to their allegations that thier FSC Securities rep recommended that Claimants sell the holdigns in their IRAs and purcahse two variable annuities and an “absolute return fund.”
Securities Fraud Lawyer Blog