RBC Capital Markets broker Paul R. Meyer (CRD #3062534) has agreed to a six-week suspension and a $5,000 fine after the Financial Industry Regulatory Authority (FINRA) alleged that he placed 334 unauthorized discretionary trades in customer accounts. The allegations were resolved through a Letter of Acceptance, Waiver and Consent (AWC), which states that the trades [...]

A new chapter has opened in the ongoing regulatory scrutiny of Spartan Capital Securities. On November 24, 2025, the Financial Industry Regulatory Authority (FINRA) filed Disciplinary Proceeding No. 2021069218305, naming the firm (CRD #146251), its Chief Executive Officer (CEO) John Lowry (CRD #4336146) and its Chief Administrative Officer (CAO) Kim Monchik (CRD #2528972). The complaint [...]

The Financial Industry Regulatory Authority (FINRA) has filed a disciplinary complaint against broker Gustave J. Schmidt (CRD #2709698). The complaint claims Schmidt steered customers into private placement investments marketed as pre-initial public offering (IPO) opportunities while withholding key details about his compensation, including arrangements that reportedly went beyond what investors were told. The complaint, filed [...]

Kirk J. Crossen (CRD #2742256), a former broker registered with Morgan Stanley and later Raymond James & Associates, is facing a Financial Industry Regulatory Authority (FINRA) disciplinary complaint filed in November 2025. The complaint alleges that Crossen borrowed $400,000 from an 84-year-old client suffering from the onset of dementia and then concealed the loans from [...]