2023-09-20 10:36
The Department of Labor's (DOL) latest proposal to redefine fiduciary rules is facing fierce opposition from the insurance industry, even before the text has been released. The DOL proposal… Read More
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1 Global Capital Sec | The Frankowski Firm Blog
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The Securities and Exchange Commission today announced charges against 1 Global Capital LLC and its former chief executive officer
2023-08-30 16:13
The Securities and Exchange Commission (SEC) has taken decisive action against Caz L. Craffy, a former U.S. Army financial counselor, for allegedly defrauding Gold Star family members and ot… Read More
2023-08-28 19:01
The Securities and Exchange Commission (SEC) has taken legal action against Olivier Amar, former Chief Growth Officer of Frank, in connection with fraud related to the company's $175 million… Read More
2023-08-28 08:13
The Securities and Exchange Commission (SEC) has brought charges against Merrill Lynch, Pierce, Fenner & Smith Incorporated, and its parent company BAC North America Holding Co. (BACNAH)… Read More
2023-08-22 21:13
In an urgent response, the Securities and Exchange Commission (SEC) has taken decisive action to halt an alleged Ponzi scheme operated by Nayeem Choudhury, a resident of Durham, North Caroli… Read More
2023-08-21 15:29
The Securities and Exchange Commission (SEC) recently concluded its investigation and reached a settlement with RSE Markets Inc. regarding allegations of operating as an unregistered securit… Read More
2023-08-19 15:57
The Securities and Exchange Commission (SEC) has filed charges against Joseph Michael "Mike" Todd and his companies, Todd Financial Services, LLC (TFS), and TFS Insurance Services LLC (TFS I… Read More
2023-08-11 15:52
Retirees and other retail investors should exercise caution when considering investments in volatility-linked products. The Cboe Volatility Index (VIX), often referred to as the "fear index… Read More
2023-08-10 19:13
David Wayne Krumrey, a former stockbroker registered with Oppenheimer Co. Inc. and based in The Woodlands, Texas, is facing multiple customer-initiated investment-related arbitration claims… Read More
2023-08-09 15:55
UBS Financial Services Inc. ("UBS") recently settled charges with the Securities and Exchange Commission ("SEC") concerning its failure to adopt and implement suitable investment policies fo… Read More
2023-08-08 19:17
Investors Face potential losses based on the actions of securities broker David Wayne Krumrey (CRD#: 4121845, The Woodlands, Texas). Krumrey, who was associated with Oppenheimer from 2009 to… Read More
2023-08-03 20:27
SEC has taken action against Royal Alliance Associates The Securities and Exchange Commission (SEC) has taken action against Royal Alliance Associates (RAA) due to substantial losses… Read More
2023-08-02 20:53
FINRA Warned of Risks of VIX-Linked Exchange Traded Products A recent spike in stock market volatility has brought into focus the enormous risks associated with certain exchange-trade… Read More
2023-03-12 23:57
Former B. Riley Wealth Management Investment Advisors Accused of Wrongdoing That Cost Investors Almost $4 Million. Brian Michael Sterz (CRD# 5333667) was permitted to resign from B. Riely We… Read More
2022-09-16 22:50
The Frankowski Firm is investigating potential claims against former stockbroker Robert Edward “Bob” Wamhoff. Until 2019, Mr. Wamhoff worked for the firm of Calton & As… Read More
2022-09-16 21:40
Oppenheimer & Co., Inc. has been hit with a $36.7 million award against it, issued by a panel of arbitrators with the Financial Industry Regulatory Authority (“FINRA”). The a… Read More
2022-09-01 20:16
Joseph Michael Todd, of Crystal River, Florida, has been fired by Centaurus Financial, Inc. after failing to cooperate with an investigation into a customer's complaint, according to his FIN… Read More
2022-08-29 23:49
The Financial Industry Regulatory Authority ("FINRA") has barred former T3 Trading Group stockbroker Suresh Kumar, of Mission, Kansas, from ever working or associating as a FINRA registered… Read More
2022-08-22 21:01
David N. Wood, a stockbroker with Moloney Securities, Inc.’s Manchester, Missouri office, is the subject of a $600,000 customer complaint filed with the Financial Industry Regulatory A… Read More
2022-08-18 21:14
Shane Wilhelm, a stockbroker with Fortune Financial Services, Inc. of Moneta, Virginia, has been accused by three separate clients of misrepresenting the assets in their accounts as being &l&hell…Read More
2022-08-15 21:44
John Dennis Lowry, the owner of Spartan Capital Securities, LLC of New York, New York, has been named as a party in a pending FINRA Disciplinary Proceeding, according to his FINRA BrokerChec… Read More
2022-08-11 15:43
The Financial Industry Regulatory Agency ("FINRA") has barred former stockbroker Suresh Kumar, of Mission, Kansas, from working or associating as a FINRA registered broker in all capacities… Read More
2022-08-08 21:25
Michael Castillero has been named by the Securities and Exchange Commission in a stock fraud civil action alleging that Castillero and his partners offered pre-Initial Public Offering (IPO)… Read More
2022-08-04 22:10
Michael Sievert, a stockbroker with Arkadios Capital of Jacksonville, Florida has been the subject of five customer complaints since 2019, according to his FINRA BrokerCheck Report. Each of… Read More
2022-08-02 01:36
The Financial Industry Regulatory Authority ("FINRA") has suspended First Allied Securities broker Brian Donnelly for four months beginning June 22, 2022, following an investigation into mul… Read More
2022-07-28 17:59
Jeremy Fortner, former Wells Fargo-associated stockbroker in Beverly Hills, California has been barred by the Financial Industry Regulatory Authority (FINRA) because he failed to provide inf… Read More
2022-07-25 20:30
Ronald Molo, a former stockbroker with Edward Jones, has been barred by Financial Industry Regulatory Authority (“FINRA”) for failing to respond to a request for information rega… Read More
2022-07-13 19:57
A Ponzi scheme is a kind of investment fraud in which earlier investors get returns using money obtained from later ones. In a typical Ponzi scheme, the fraudster promises investors a high r… Read More
2022-05-12 18:34
Ann Vanderslice, a/k/a Ann Werts has been named in a $250,000 FINRA arbitration claim brought by a customer alleging that Ms. Vanderslice made unsuitable investment recommendations and faile… Read More
2022-05-10 18:49
Alabama Securities Commissioner Joseph Borg has brought a lawsuit against Financial Industry Regulatory Authority (“FINRA”) arbitrator Harvey Linder, alleging that Mr. Linder eng… Read More
2022-05-04 20:54
According to Investment News, Tony Barouti, a stockbroker registered with Emerson Equity and based in Los Angeles, California, has been hit with a $1.37 million arbitration claim from custom… Read More
2022-05-04 20:50
For more information on how to recover your losses in GWG Holdings Inc.'s L Bonds, please visit www.gwgclaims.com Read More
2022-05-03 18:48
As previously covered in this space, GWG Holdings, Inc., a financial services firm based in Dallas, Texas, filed for bankruptcy on Wednesday, April 20. The bankruptcy followed… Read More
2022-04-28 18:13
WestPark Capital clients who were sold GWG Holdings L bonds may have the right to pursue legal claims to recover their losses in the risky, illiquid investments. WestPark Capital, a broker d… Read More
2022-04-22 19:08
As previously covered in this space, GWG Holdings, Inc., a financial services firm based in Dallas, Texas, filed for bankruptcy on Wednesday, April 20. The bankruptcy filing had been predict… Read More
2022-04-19 18:18
Investment News reports that GWG Holdings, Inc. is preparing to file for Chapter 11 bankruptcy. The leading cause of bringing the company to the verge of bankruptcy is its failure to pay inv… Read More
2022-03-17 14:41
One of the most widespread misunderstandings among individual investors is that to recover investment losses from a stockbroker or the broker-dealer for which he or she works, they must esta… Read More
2022-03-14 21:27
Deutsche Bank Securities, Inc. has been fined $2 million by the Financial Industry Regulatory Authority ("FINRA") for failure to follow FINRA's rules regarding best execution of trades. Deut… Read More
2022-03-07 14:44
The Financial Industry Regulatory Authority ("FINRA") has barred Dennis Ayre from the securities industry based on his refusal to cooperate with FINRA's investigation into the unsuitability… Read More
2022-02-28 20:30
Wells Fargo Advisors Financial Network, LLC and Wells Fargo Clearing Services, LLC (collectively, "Wells Fargo") have submitted a letter of Acceptance Waiver and Consent, resulting in a cens… Read More
2022-02-24 23:17
An investment suitability analysis is required - by industry rules and by law - before a stockbroker makes a recommendation to his or her client. Stockbrokers are obligated to recommend an i… Read More
2022-02-21 20:38
The SEC has filed a complaint against Safeguard Metals LLC and its owner, Jeffrey Santulan, for allegedly misleading hundreds of elderly investors and engaging in a multimillion-dollar schem… Read More
2022-02-17 20:23
The Financial Industry Regulatory Authority (acronym: “FINRA”) is an independent agency that regulates more than 4,500 brokerage firms, 163,000 branch offices, and 630,000 regist… Read More
2022-02-14 22:13
German Nino has been charged with stealing $5.8 million from long-standing clients. Nino, 56, is a resident of Weston, Florida. He was a broker-dealer and investment adviser for UBS Financia… Read More
2022-02-10 20:08
In January 2022, the Securities and Exchange Commission (SEC) announced it awarded four whistleblowers $40 million after voluntarily providing information and assisting the SEC in three sepa… Read More
2022-02-07 21:56
Brian Pearce (#1334784) was suspended from acting as a FINRA broker and fined $5,000 after thirty-six years of experience. Pearce signed a letter of Acceptance, Waiver, and Consent in Novemb… Read More
2022-01-31 21:41
Donna Jean Hines (CRD #4275524) was barred by FINRA from serving as a financial advisor in all capacities in November 2021 after refusing to appear for on-the record testimony. FINRA request… Read More
2022-01-27 23:26
Credit Suisse Securities has been fined $9 million by the Financial Industry Regulatory Authority (“FINRA”) for failing to maintain possession or control of billions of dollars o… Read More
2022-01-21 21:12
Jeffrey Dampf (CRD #5676205) was barred from association with FINRA in all capacities on October 1, 2021. FINRA issued an Acceptance, Waiver, and Consent for Dampf after he refused to provid… Read More
2022-01-21 20:59
WestPark Capital, of Los Angeles California, and its CEO, Richard Rappaport, have been sanctioned and fined $280,000 collectively by the Financial Industry Regulatory Authority (“FINRA… Read More
2022-01-14 21:31
Merrill Lynch has been fined $1.5 million by the Financial Industry Regulatory Authority (“FINRA”) for its failure to implement written supervisory procedures and systems reasona… Read More
2022-01-12 21:23
NYLIFE Securities LLC has been censured and fined by the Financial Industry Regulatory Authority (“FINRA”). According to FINRA’s findings of fact, NYLIFE failed to take rea… Read More
2021-11-17 18:56
On October 28, 2021, the Securities and Exchange Commission (SEC) charged Kenneth Welsh with stealing approximately $3 million from his clients. Welsh allegedly used the money to buy gold co… Read More
2021-09-01 21:30
The SEC has filed an emergency action to stop an alleged decade-long Ponzi scheme perpetrated by John Woods. The report claims that Woods raised more than $110 million from over 400 investor… Read More
2021-09-01 21:15
Yellowstone Capital, LLC was ordered to pay $9.8 million to settle a Federal Trade Commission complaint alleging the company made unauthorized withdrawals and deceived consumers about the am… Read More
2021-08-18 15:52
The SEC has obtained a court order to stop Santa Fe, New Mexico financial advisor Martin Adrian Ruiz’s alleged ongoing offering fraud. According to the SEC complaint, Ruiz induced at l… Read More
2021-08-13 14:52
Dwight Dykstra (“Dykstra”), a Maitland, Florida stockbroker, has been suspended from acting as a broker for one year by the Financial Industry Regulatory Authority (“FINRA… Read More
2021-07-09 18:10
Xiangyu “Sean” Zhang has been indefinitely barred from association with any Financial Industry Regulatory Authority (“FINRA”) member in all capacities as of August 20… Read More
2021-07-02 18:13
Michael Ecker, a stockbroker in Concorde Investment Services' Wellington, FL branch office, has been named in two customer disputes filed with the Financial Industry Regulatory Authority ("F… Read More
2021-06-04 03:20
Former LPL Financial representative Matthew Clason waived his right to be indicted and pleaded guilty to one count of wire fraud related to his misappropriation of more than $600,000 from an… Read More
2021-06-02 16:11
Pitney Bowes company has drawn multiple consumer complaints from customers who have cancelled their Pitney Bowes contracts only for the company to continue to charge their credit card. Pitne… Read More
2021-05-12 14:08
The Securities and Exchange Commission (“SEC”) announced on April 26, 2021, that it filed an emergency action and obtained an asset freeze to stop an alleged ongoing fraudulent P… Read More
2021-04-09 19:58
An arbitration panel for the Financial Industry Regulatory Authority (“FINRA”) has entered a $4.6 million award against Interactive Brokers and Charles Schwab in a case brought b… Read More
2021-04-06 04:52
The Frankowski Firm is investigating potential claims related to investor losses in the Sierra Income Corporation. Sierra is a non-traded business development company (“BDC”). As… Read More
2021-04-06 04:51
NEW YORK – In three years of managing investments for North Dakota farmer Richard Haus, Long Island stock broker Mike McMahon and his colleagues charged their client $267,567 in fees a… Read More
2021-04-06 04:50
The Frankowski Firm is investigating claims of broker fraud and mismanagement that has led to significant losses and excessive fees in employee 401(k) retirement plans. We invite you to &hell…Read More
2021-04-06 04:49
Puerto Rico municipal bonds have been rated as “junk” bonds by Standard and Poor, and investors have lost thousands of dollars as a result. The Frankowski Firm is currently inves… Read More
2021-04-06 04:49
The Frankowski Firm is currently investigating claims of unsuitable and misrepresented sales of Puerto Rican municipal bonds by Wedbush Securities and stockbroker Mark Augusta. The NYSE regu… Read More
2021-04-06 04:48
Morgan Stanley Smith Barney has been a powerhouse brokerage firm for years. The Frankowski Firm is currently investigating claims on behalf of clients throughout the country who may have sus… Read More
2021-04-06 04:48
Stock broker Charles Fackrell, of Yadkinville, North Carolina, used to work for LPL Financial, LLC. He was permanently barred by FINRA in February 2015, after he failed to cooperate in FINRA… Read More
2021-03-15 17:02
The Frankowski Firm is investing potential claims for investors suffering from Infinity Q Losses.
Infinity Q Diversified Alpha Fund Institutional Class (NASDAQ:IQDNX) and Infinity Q Diversif… Read More
2021-03-15 17:02
The Frankowski Firm is investing potential claims for investors in the Infinity Q Diversified Alpha Fund Institutional Class (NASDAQ:IQDNX) and Infinity Q Diversified Alpha Fund Investor Cl… Read More
2021-02-12 15:54
According to a letter of acceptance, waiver and consent issued by FINRA, from June 3, 2015 to July 31, 2017, Triad Advisors failed to establish and maintain a reasonable supervisory system t… Read More
2021-02-12 15:38
First Standard Financial Advisory, LLC, based in Red Bank, New Jersey, has been sanctioned and barred from doing business in the State of New Jersey based on the New Jersey Bureau of Securi… Read More
2021-02-10 17:11
An indictment was unsealed in federal court on February 4, 2021, charging GPB Capital Holdings, LLC (“GPB”) with securities fraud, wire fraud, and conspiracy. Those charged inclu… Read More
2021-02-02 21:12
Kevin McCallum, an Alabama-based stockbroker and financial advisor with Glacier Point Advisors, LLC, who was previously registered with LPL Financial, LLC and NBC Securities, Inc., has discl… Read More
2020-12-04 22:21
On November 19, 2020, the Securities & Exchange Commission announced an award of $900,000 to a whistleblower whose timely and important information resulted in a significant expansion of… Read More
2020-12-03 21:17
On December 1, 2020, the Securities & Exchange Commission announced an award of $6 million to joint whistleblowers whose information and assistance led to the successful enforcement of S… Read More
2020-11-24 15:34
Dennis Phillip Ayre, of Van Nuys, California, continues to draw customer complaints in Financial Industry Regulatory Authority (“FINRA”) arbitration. Mr. Ayre’s FINRA Broke… Read More
2020-11-20 14:42
Moloney Securities Co. Inc. was recently censured and fined $100,000 and required to pay $15,574.13, in restitution to a customer. The FINRA findings stated that Moloney, from January 2013 t… Read More
2020-11-19 15:10
The Financial Industry Regulatory Authority (“FINRA”) has banned Louis Cook, who was a Staten Island, New York-based representative for National Planning Corporation and Securiti… Read More
2020-11-17 15:29
The Financial Industry Regulatory Authority (“FINRA”) has barred Dee Dee Brooks, of Sarasota, Florida, based on findings that, while acting as an agent of Signator Investors, Inc… Read More
2020-11-10 02:04
The Financial Industry Regulatory Authority (“FINRA”) has censured and fined Apex Clearing Corporation for violations of Securities and Exchange Commission Rules.
According to FI… Read More
2020-11-04 23:27
The Financial Industry Regulatory Authority (“FINRA”) has barred Joseph Stone Capital, LLC representative Erik Pica following findings that Pica took a 76-year-old customer&rsquo&hell…Read More
2020-11-03 03:22
Recent Financial Industry Regulatory Authority (“FINRA”) findings reveal that Two Sigma Securities, LLC failed to comply with the Locate Requirement of Rule 203(b)(1) of Regulati… Read More
2020-10-31 03:15
BNP Paribas Securities Corporation was recently fined for failing to create or maintain a risk management system of controls or procedures to handle the financial risks of its market access… Read More
2020-10-30 03:18
Moors & Cabot, Inc. has been fined by the Financial Industry Regulatory Authority (“FINRA”) for failing to provide written disclosure to customers of around $7.5 million of c… Read More
2020-10-26 20:56
According to the Consumer Financial Protection Bureau’s (CFPB) Consumer Complaint Database, the popular investing and trading platform Robinhood Markets, Inc. (“Robinhood”)… Read More
2020-10-23 21:06
Concorde Investment Services, LLC and its Chief Compliance Officer, Kimberlee Elizabeth Levy, were recently censured and fined by the Financial Industry Regulatory Authority (FINRA) fo… Read More
2020-10-22 16:04
Lek Securities Corporation was recently found by the Financial Industry Regulatory Authority (“FINRA”) to have failed in implementing Anti-Money Laundering (AML) policies and int… Read More
2020-10-21 15:57
The value of New York City REIT, Inc. has tanked since its public listing in August 2020. According to Investment News, some investors have suffered losses as high as 80% from its initial sa… Read More
2020-10-20 15:46
On October 19, 2020, the Financial Industry Regulatory Authority fined and suspended former broker of SagePoint Financial, Troy Robert Baily, for engaging in four undisclosed and unapproved… Read More
2020-10-19 15:43
On October 15, 2020, Kevin Barletta, formerly registered as a general securities representative through an association with LPL Financial LLC, submitted a Letter of Acceptance, Waiver… Read More
2020-10-16 13:25
Morgan Stanley Smith Barney LLC was recently sanctioned for failing to reasonably supervise a representative for recommending short-term trades of corporate bonds and preferred securities fo… Read More
2020-10-15 22:32
From January 2013 through December 2017, SagePoint Financial Inc. failed to create or maintain a supervisory system or enforce WSPs to supervise the suitability recommendations to customers… Read More
2020-10-14 15:59
Newport Coast Securities, Inc. was recently expelled from FINRA membership fined $403,000 and ordered to pay $853,617.04 plus interest to customers in restitution for excessively trading in… Read More
2020-10-10 03:34
Citadel Securities established an Over-the-Counter equity trading desk in November 2011 to receive orders from the Firm’s clients on behalf of their customers. The firm’s stated… Read More
2020-10-02 02:03
On September 22, 2020, an arbitration panel for the Financial Industry Regulatory Authority (“FINRA”) made findings against Jason K. Williams (CRD#: 4676003) and entered an… Read More
2020-10-01 02:00
It was announced on September 29 that JPMorgan Chase agreed to settle with U.S. authorities and will pay fines and penalties to the Commodities Futures Trading Commission and the Securities… Read More
2020-09-30 00:01
The Frankowski Firm is investigating potential claims related to investor losses in the Sierra Income Corporation. Sierra is a non-traded business development company (“BDC”). As… Read More
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