According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA), broker David Reynolds (Reynolds) was barred in November 2017 from the financial industry for concerning allegations that he misappropriated customer funds and did not provide requested documents to FINRA. According to FINRA, Reynolds consented to the sanction and bar…
The law offices of Gana Weinstein LLP continue to investigate the Woodbridge Group of Companies and the Woodbridge Mortgage Funds (Woodbridge). The Securities and Exchange Commission (SEC) has alleged that the Woodbridge operated a billion-dollar Ponzi scheme ensnaring about 8,400 investors. Woodbridge solicited hundreds of disreputable insurance agents and investment…
According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) advisor Kimberly Kitts (Kitts), formerly associated with Royal Alliance Associates, Inc. (Royal Alliance) in Palmer, Massachusetts was terminated for cause by Royal Alliance concerning allegations that she engaged in misappropriation of funds. Royal Alliance stated that it received…
According to BrokerCheck records kept by the Financial Industry Regulatory Authority (FINRA), broker Brent Van Lott (Lott) is being investigated for allegedly violating FINRA rules. Lott has also been subject to three customer disputes. In January 2016, a customer alleged Lott initiated trades without the customer’s written consent. This dispute…
According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) advisor Brian Royster (Royster), formerly associated with HD Vest Investment Services (HD Vest), in November 2017, was barred from the financial industry by FINRA concerning allegations that he borrowed funds from clients. FINRA found that Royster consented to…
The investment attorneys at Gana Weinstein LLP are investigating claims against broker Lyle Boudreaux (Boudreaux). According to BrokerCheck records, Boudreaux has received three customer complaints. Additionally, Boudreaux was terminated from Merrill Lynch in 2012. In October 2017, a customer allegedly suffered losses in an advisory account due to an allegedly…
According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) advisor Kenneth Jones (Jones), in May 2017, was terminated by his firm, Aegis Capital Corp. (Aeigs Capital) based on allegations that Jones was under investigation for failure to disclose outside business activities. Subsequently, Jones was barred from the…
The investment lawyers of Gana Weinstein LLP are investigating regulatory action brought by the Financial Industry Regulatory Authority (FINRA) against Christopher Stephen Jorgensen (Jorgensen). Jorgensen allegedly refused to appear for on-the-record testimony requested by FINRA resulting in a ban from the securities industry. In April 2017, Jorgensen was terminated from…
The Financial Industry Regulatory Authority (FINRA) has ordered Wells Fargo Clearing Services, LLC and Wells Fargo Advisors Financial Network, LLC to pay more than $3.4 million in restitution to customers for alleged unsuitable recommendations of volatility-linked exchange-traded products (ETPs) and supervisory failures, according to InvestmentNews. FINRA found that between July…
The investment lawyers of Gana Weinstein LLP are investigating the regulatory action brought by the Financial Industry Regulatory Authority (FINRA) against John P. Correnti (Correnti), working out of Cleveland, Ohio. Correnti allegedly failed to provide FINRA staff with information and documents related to an investigation into claims that Correnti engaged…