The Financial Industry Regulatory Authority (FINRA) brought and enforcement action against broker Ronald Benevento (Benevento) (FINRA No. 20130353695) alleging that between September 2011 through April 2013 Benevento engaged in unsuitable mutual fund switching activity in three customer accounts in violation of the FINRA Rules. In addition, FINRA alleged that during…
Securities Lawyers Blog
Customers File Complaints Against Advisor Newbridge Securities Broker Anil Jethmal
According to the BrokerCheck records kept by Financial Industry Regulatory Authority (FINRA) broker Anil Jethmal (Jethmal) has been hit with a large number of customer complaints. Jethmal’s record reveals a total of 5 customer complaints. However, 1996, the state of Georgia revoked Jethmal’s securities license in the state stating that…
Florida Office of Financial Regulation Sanctions JP Turner Over Broker John McGriskin’s Churning Activity
According to the records kept by the State of Florida, Office of Financial Regulation brokerage firm J.P. Turner & Company, L.L.C., (JP Turner) was sanctioned (Administrative Proceeding: 0757-S-12/13) concerning allegations that the firm’s broker, John McGriskin (McGriskin) engaged in mutual fund switching, a form of churning, in client accounts. From…
FINRA Files Churning Complaint Against Leonard Goldberg
The Financial Industry Regulatory Authority (FINRA) brought and enforcement action against broker Leonard Goldberg (Goldberg) (FINRA No. 2011026098504) alleging during the seven year period from August 2007 through August 2014, while he was registered with FINRA through J.P. Turner & Company, LLP (JP Turner) and Newport Coast Securities Inc. (Newport…
FINRA Bars Former NYLife Broker Jonathan Williams Over Outside Business Activities
The Financial Industry Regulatory Authority (FINRA) brought and enforcement action against broker Jonathan Williams (Williams) (FINRA No. 20150452689) resulting in a bar from the securities industry alleging that Williams failed to provide FINRA staff with information and documents requested. The failure to provide those documents and information to FINRA resulted…
FINRA Bars Former Merrill Lynch Broker Michael Highfill Over Outside Business Activities
The Financial Industry Regulatory Authority (FINRA) brought and enforcement action against broker Michael Highfill (Highfill) (FINRA No. 2015045652501) resulting in a bar from the securities industry alleging that Highfill failed to provide FINRA staff with information and documents requested. The failure to provide those documents and information to FINRA resulted…
FINRA Bars Richard Adams Over Churning Customer Accounts
The Financial Industry Regulatory Authority (FINRA) brought and enforcement action against broker Rasheed a/k/a Richard Adams (Adams) (FINRA No. 2015045911001) resulting in a bar from the securities industry alleging that between July 2013, and June 2014, Adams engaged in unsuitable excessive trading and churning in two of his customers’ accounts.…
Broker Spotlight: JP Morgan’s John Cholankeril Jr.
According to the BrokerCheck records kept by Financial Industry Regulatory Authority (FINRA) broker John Cholankeril Jr. (Cholankeril) has been the subject of at least six customer complaints, one employment separation, and one regulatory action. The customer complaints against Cholankeril allege that the broker made unsuitable investments, misrepresented certain mutual funds,…
FINRA Sanctions Broker Gregory Gassoso Over Unauthorized Trades
The Financial Industry Regulatory Authority (FINRA) sanctioned (FINRA AWC No. 2013039506601) broker Gregory Gassoso (Gassoso) on allegations that in April 2013, Gassoso effected three unauthorized transactions in a customer’s account, resulting in a loss of approximately $1,500. In addition to FINRA’s recent action Gassoso has been the subject of at…
Churning Claims Against Rockwell Global Broker Michael Capolongo
According to the BrokerCheck records kept by Financial Industry Regulatory Authority (FINRA) broker Michael Capolongo (Capolongo) has been the subject of at least two customer complaints and one criminal matter over the course of his career. Customers have filed complaints against Capolongo alleging securities law violations including that the broker…