On March 10, 2014, Larry Steven Werbel submitted a Letter of Acceptance, agreeing to accept the sanctions handed down by the Financial Industry Regulatory Authority (FINRA) for alleged violations relating to the sale of penny stocks during his tenure at LPL Financial, LLC. Larry Werbel entered the securities industry in…
The law offices of Gana Weinstein LLP filed a complaint with the Financial Industry Regulatory Authority (FINRA) on behalf of four investors against First Allied Securities, Inc. (First Allied) concerning broker Amram a/k/a Rami Yahalom’s solicitation and sale of Advanced Equities private placements. According to the complaint, First Allied and…
The Financial Industry Regulatory Authority (FINRA) recently barred broker Robert Acri (Acri) concerning allegations that in December 2013, and January 2014, Acri failed to fully respond to a Rule 8210 request for documents and information concerning Acri’s sale of alternative investments and promissory notes. Acri first entered the securities industry…
The Financial Industry Regulatory Authority (FINRA) recently sanctioned Ameriprise Financial Services (Ameriprise) broker Michael Hainsworth (Hainsworth) concerning allegations that the broker made certain misrepresentations and unbalanced statements in the sale of non-traded real estate investment trusts (REITs) by sending emails to potential investors that failed to provide a sound basis…
The Financial Industry Regulatory Authority (FINRA) recently sanctioned MML Investors Services, LLC (MML Investors a/k/a MassMutual Life Insurance Company) broker Monte Miron (Miron) concerning allegations that Miron made unauthorized trades in client accounts and that the broker failed to disclose certain tax liens on his Form U4 in a timely…
The Financial Industry Regulatory Authority (FINRA) recently barred broker Jeffrey Schrader (Schrader) concerning allegations that the broker engaged in private securities transactions and failed to cooperate with FINRA’s investigation. Schrader entered the industry in June 1998. From November 2005, until March 2009, Schrader was associated with Merrill Lynch, Pierce, Fenner…
The Financial Industry Regulatory Authority (FINRA) recently barred FSC Securities Corporation (FSC Securities) broker Timothy Moran (Moran) concerning allegations that the broker: (1) engaged in private securities transactions without providing his employer with prior written notice; (2) failed to respond to FINRA requests for information; (3) provided false information to…
The sales of Tenants-in-Common (TIC) interests grew significantly during the early 2000s from approximately $150 million in 2001 to approximately $2 billion by 2004. The Financial Industry Regulatory Authority (FINRA) has noted that TICs are illiquid investments for which no secondary market exists and that subsequent sales of the property…
Despite the broad market’s recent volatility, 2013 brought the twenty-five largest independent broker dealers double-digit revenue growth on average, according to an Investment News report. After a weak 2012, these independent broker dealers roared to a 13.2% year over year increase in revenue, recording $18.46 billion in 2013 according to this year’s…
We now have the answer to what they will think up next. According to a New York Times article, one of Wall Street’s most exclusive investment products, sold to the wealthy, is moving toward the mainstream investor. Private equity funds. These vast pools of capital that buy and sell companies…