According to the BrokerCheck records kept by Financial Industry Regulatory Authority (FINRA) broker James Ham (Ham) has been the subject of at least two customer complaints, one financial matter, three regulatory events, two employment separations, and one judgement/lien. Recently, FINRA barred the broker for failing to cooperate in the agencies…
As we previously reported, (See Top Merrill Lynch Broker Thomas Buck Terminated Under Unusual Circumstances) news sources have been investigating the termination of financial advisor Thomas Buck (Buck) and his daughter Ann Buck by Merrill Lynch, Pierce, Fenner & Smith Incorporated (Merrill Lynch), now known as Bank of America, NA…
The Financial Industry Regulatory Authority (FINRA) fined and suspended broker Debra Lyman (Lyman) concerning allegations that between January 2013 through November 2013 Lyman engaged in unauthorized or discretionary trading in six client accounts without proper written permission. Lyman was associated with Morgan Stanley from 1998 , through January 17, 2014.…
As long time readers of our blogs know senior abuse is an ongoing concern in the securities industry. See Massachusetts Fines LPL Financial Over Variable Annuity Sales Practices to Seniors; The NASAA Announces New Initiative to Focus on Senior Investor Abuse; The Problem of Senior Investor Abuse – A Securities…
The Financial Industry Regulatory Authority (FINRA) sanctioned broker Daniel Grieco (Grieco) concerning allegations that Grieco made recommendations of non-traditional exchange-traded funds (Non-Traditional ETFs) to various customers without having reasonable grounds to believe his recommendations were suitable. Non-Traditional ETFs are behave drastically different and have different risk qualities from traditional ETFs.…
The Financial Industry Regulatory Authority (FINRA) fined and suspended broker Douglas Dannhardt (Dannhardt) concerning allegations that between January 2010, and December 2011 Dannhardt engaged in several different violations of the industry’s rules including: 1( excessive and unsuitable trading in three IRA accounts (also known as churning); 2) improperly exercising discretion…
The Financial Industry Regulatory Authority (FINRA) in an acceptance, waiver, and consent action (AWC) Wells Fargo Advisors, LLC (Wells Fargo) broker Joseph DiRago Jr. (DiRago) concerning allegations that between June 2011, and October 2012, while registered with Morgan Stanley & Co. LLC (Morgan Stanley), DiRago effected transactions exercising discretion without…
According to the BrokerCheck records kept by Financial Industry Regulatory Authority (FINRA) broker Gregory Dean (Dean) has been the subject of at least 4 customer complaints over the course of his career. Customers have filed complaints against Dean in recent years alleging that the broker made unsuitable investments and churned…
According to the BrokerCheck records kept by Financial Industry Regulatory Authority (FINRA) broker Karl Romero (Romero) has been the subject of at least 9 customer complaints over the course of his career. Customers have filed complaints against Romero alleging that the broker made unsuitable investments primarily in private placements and…
According to the BrokerCheck records kept by Financial Industry Regulatory Authority (FINRA) broker Jack McBride (McBride) has been the subject of at least 4 customer complaints over the course of his career. Customers have filed to recent complaints against McBride alleging that the broker made unsuitable investments in leveraged ETFs…