Understanding the difference between solicited and unsolicited trades is crucial for investors. This knowledge not only impacts investor protection but also plays a significant role in the potential recovery of losses. Here is why understanding solicited and unsolicited trades matters and why this distinction is important for investors like you. What is a Solicited Trade? [...]
The Financial Regulatory Authority (“FINRA”) has reported on its BrokerCheck website that WILLIAM CALEB BENNETT was terminated from employment at PARK AVENUE SECURITIES LLC.The FINRA Form U5 says: “ DISCHARGE RR [finanical advisor] violated the Firm’s policies by facilitating outside investments not approved by the Firm,” and was reported publicly by FINRA on February 9, [...]
Ponzi schemes represent some of the most devastating types of financial fraud. They mislead investors with the allure of guaranteed high returns with minimal risk. These schemes use the funds from new investors to pay earlier participants, creating a cycle that inevitably collapses under its own weight. In this post, you’ll learn about six famous [...]
Spartan Capital Securities has garnered regulatory and investor scrutiny due to numerous complaints and regulatory actions that spotlight its trading and compliance issues, including churning, excessive trading and significant compliance failures. As a firm registered under the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC), these allegations have shaken the trust [...]
The Financial Regulatory Authority (“FINRA”) has reported on its BrokerCheck website that MICHAEL SCOTT ROSENBACH was terminated from employment at UBS FINANCIAL SERVICES INC. The FINRA Form U5 says: “DISCHARGE Employee discharged after violating Firm policies by failing to escalate the receipt of material non-public information, violating the Firm's Order Entry Policy, failing to disclose [...]
March 2, 2024, Miami, Florida. — Sonn Law Group PA announced today that several former Morgan Stanley financial advisors won a collective $3 million in damages in a FINRA arbitration over claims that Morgan Stanley wrongfully withheld payments of their deferred compensation. “This is a big win for former Morgan Stanley financial advisors,” said Jeffrey [...]
November 3, 2023 November 3, 2023 – The Financial Regulatory Authority fined Bolton Global Capital (CRD #15650, Bolton, Massachusetts) $75,000, in part, for exposing customer records in a data breach. Bolton Global Capital entered into a settlement agreement, called a Letter of Acceptance Waiver and Consent, in which FINRA found in part that "From October [...]
According to the Finanical Regulatory Authority (FINRA) John Aloysius Dougherty entered the securities industry in December 1997. In January 2021, Dougherty became associated with LPL Financial LLC (LPL), a FINRA member firm, as a Financial Advisor. In a Uniform Termination Notice for Securities IndustryRegistration (Form U5) dated August 11, 2023, LPL reported that it terminatedDougherty [...]
by Miriam Rozen November 22, 2023 Edited with comments from Sonn Law Group A federal judge has granted Morgan Stanley’s motion to send to arbitration a putative class action claim that it violates federal law by withholding deferred compensation from brokers who move to other firms. Morgan Stanley “demonstrated” that the advisors agreed in employment [...]
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