Articles Tagged with FINRA rule 2010

FINRA has filed a complaint against former Advisory Group Equity Services Ltd. (AGES) broker Frank Sapareto. The March 31, 2021 complaint alleges that Sapareto engaged in an outside business activity without providing prior written notice to AGES, and that he repeatedly provided false or misleading information to FINRA to conceal his involvement in his outside business activity.

If you have lost money with Frank Sapareto, or AGES, contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.

FINRA Disciplinary Proceeding No. 2018060379701

FINRA has suspended former Cambridge Investment Research, Inc. broker Keith Holcomb from the securities industry for 6 months for borrowing money from a customer without notifying or receiving approval from his firm. Holcomb was also fined $7,500.

The conduct is alleged to have taken place while Holcomb was registered with MML Investors Services, LLC in Warwick, Rhode Island.

If you have lost money with Keith Holcomb, MML Investors Services, LLC or Cambridge Investment Research, Inc., contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.

FINRA has suspended former Insigneo broker Ignacio Erhart Del Campo from the securities industry for 2 months for exercising discretion in a customer’s account without proper authorization and engaging in unauthorized trading. Erhart Del Campo was also fined $7,500 and ordered to pay restitution of $19,189 plus interest.

If you have lost money with Ignacio Erhart Del Campo, or Insigneo, contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.

FINRA Letter of Acceptance, Waiver, and Consent (“AWC”)

FINRA has suspended Moloney Securities broker Candice Montie from the securities industry for three months for participating in private securities transactions without providing the required written notice to her firm. She was also fined $5,000.

If you have lost money with Candice Montie, or Moloney Securities, contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.

FINRA Letter of Acceptance, Waiver, and Consent (“AWC”)

FINRA has suspended a Senior Managing Director at Cantor Fitzgerald & Co., Riaz Haidri, for three weeks for disclosing confidential information regarding a customer’s trading strategy and later confirming the customer’s identity to another customer.  Mr. Haidri was the co-head of Cantor Fitzgerald’s high yield fixed income trading desk at the time of the alleged conduct.  FINRA also fined Mr. $15,000 and ordered him to complete five hours of training.

Cantor Fitzgerald has employed Mr. Haidri since May 2013.

FINRA Letter of Acceptance, Waiver, and Consent No. 2017054288401

FINRA has suspended Buckman, Buckman and Reid broker Allan Katz from associating with any FINRA member for 20 business days for reusing an elderly customer’s signature pages on account transfer forms. The alleged conduct took place while Katz was associated with another FINRA member, Royal Alliance. In addition to his suspension, Katz was fined $5,000.

If you have lost money with Allan Katz, or Buckman, Buckman and Reid, contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.

FINRA Letter of Acceptance, Waiver, and Consent (“AWC”)

The Financial Industry Regulatory Authority’s Department of Enforcement has filed a disciplinary proceeding complaint against broker Kishan Parikh, who also goes by the name Sean Parikh.  The complaint alleges that from August 2014 through 2016, while employed by Aegis Capital Corp. (“Aegis Capital”), Mr. Parikh made unsuitable recommendations and excessively traded the accounts of five of his customers.

A few weeks ago, Aegis Capital was fined $80,000 and censured by FINRA over multiple FINRA and MSRB Rules violations. The firm was also ordered to pay restitution of $43,912 to customers.

Aegis Capital has a long history of sanctions. In 2017, Aegis was included in a Reuters study that analyzed FINRA data and identified 48 firms whose brokers have been flagged for serious incidents. The Reuters’ analysis showed that Aegis Capital had 39% of its brokers with at least one of the most serious red flags, per the study, on their public disclosure.

The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker Mayur T. Dalal from the securities industry.  Mr. Dalal was expelled from the brokerage industry after refusing to cooperate with a FINRA investigation into allegations related to his termination from Kestra Investment Services, LLC.  Mr. Dalal was associated with Kestra Investment Services from June 2016 until he was discharged in February 2020 over allegations that he engaged in undisclosed private securities transactions and outside business activity.

If you have lost money with broker Mayur Dalal or Kestra Investment Services, LLC, contact New York securities arbitration law firm Iorio Altamirano LLP for a free and confidential evaluation of your account.

FINRA Letter of Acceptance, Waiver, and Consent No. 2020065664201

FINRA has barred former Bankers Life Securities broker Ryan Tarjanyi from the securities industry for providing inaccurate information during on-the-record testimony regarding a customer’s execution of an annuity partial withdrawal form, in violation of FINRA Rules 8210 and 2010.

FINRA initially opened an examination of Tarjanyi’s sales practices in 2019. At that time, Bankers Life Securities reported that customers complained about Tarjanyi, alleging forgery and falsification of information on an insurance application and annuity withdrawal forms.

On September 24, 2020, FINRA made a preliminary determination to recommend that disciplinary action be brought against Tarjanyi, alleging that Tarjanyi falsified documents, forged customer signatures, and misrepresented the terms of an insurance policy (the forgeries facilitated unauthorized withdrawals from customer funds), in violation of FINRA Rules.

FINRA has suspended former Edward Jones broker Lang Phu Nguyen from associating with any FINRA member for 45 days for exercising discretion in customer accounts without prior written authorization and violating firm policies prohibiting the use of personal email for business purposes.

Nguyen was also fined $5,000. He is no longer associated with a FINRA member but remains subject to FINRA’s jurisdiction.

If you have lost money with Lang Phu Nguyen, or Edward Jones, contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.

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