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Articles Posted in Unauthorized Trading

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Customers File Claims Against Broker David Page

According to the BrokerCheck records kept by Financial Industry Regulatory Authority (FINRA) broker David Page (Page) has been the subject of at least three customer complaints over the course of his career. Customers have filed complaints against Page alleging securities law violations including that the broker made unsuitable investments, breach…

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Customers File Complaints Against Former National Securities Corporation Broker William Gillis

According to the BrokerCheck records kept by Financial Industry Regulatory Authority (FINRA) broker William Gillis (Gillis) has been hit with at least 11 customer complaints over his career of which three have been filed in 2015 alone. Customers have filed complaints against Gillis alleging securities law violations including that the…

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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…

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FINRA Bars Former Stifel, Nicolaus Broker Kenneth Hornyak Over Short Term Trading

The Financial Industry Regulatory Authority (FINRA) sanctioned and barred broker Kenneth Hornyak (Hornyak) (Case No. 2013038511901) alleging that the broker failed to respond the regulator’s requests for documents and information. FINRA’s investigation appeared to focus on claims that Hornyak engaged in potential discretionary trading, unauthorized trading, and unsuitable short-term trading…

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FINRA Bars Thomas Hogle Over Investigation Into Unsuitable Trades in a 101 Year Old’s Account

The Financial Industry Regulatory Authority (FINRA) barred (Case No. 20150443048) broker Thomas Hogle (Hogle) after the broker failed to respond to a letter from the regulator requesting information. While the BrokerCheck records kept by FINRA do not disclose all the facts being investigated by the regulatory inquiry, FINRA sent Hogle…

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Broker Spotlight: Claims Against Former AXA Advisors Broker Dennis Lee

According to the BrokerCheck records kept by Financial Industry Regulatory Authority (FINRA) broker Dennis Lee (Lee) has been the subject of one customer complaint, four financial disclosures, and one employment separation. The customer complaint against Lee alleges that the broker made unsuitable investments, transferred funds to a new account without…

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FINRA Bars Former Cetera Advisors Broker Bruce Sabourin

The Financial Industry Regulatory Authority (FINRA) barred former Cetera Advisors LLC (Cetera) broker Bruce Sabourin (Sabourin) after the broker failed to respond to a letter from the regulator requesting information. While the BrokerCheck records kept by FINRA do not disclose the nature of the regulatory inquiry, in May 2014, Sabourin…

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FINRA Sanctions Five Brokers Affiliated with HFP Capital Markets

The Financial Industry Regulatory Authority (FINRA) sanctioned five brokers formerly associated with now expelled brokerage firm HFP Capital Markets LLC (HFP Capital) (Case No. 2010024522103) including brokers Jonah Engler (Engler), Brett Friedberg (Friedberg), Jonathan Sheklow (Sheklow), Joshua Turney (Turney), and Hector Perez (a/k/a Bruce Johnson) (Perez) concerning allegations that between…

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Customers File Complaints Against National Securities Corporation Broker Michael Fasciglione

According to the BrokerCheck records kept by Financial Industry Regulatory Authority (FINRA) broker Michael Fasciglione (Fasciglione) has been the subject of at least 11 customer complaints and two regulatory actions. The customer complaints against Fasciglione allege a number of securities law violations including that the broker made unsuitable investments, unauthorized…

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FINRA Sanctions E1 Asset Management, Ron Itin, and Ahsan Shaikh Over Churning Customer Accounts

The Financial Industry Regulatory Authority (FINRA) sanctioned (Case No. 2010025835701) broker E1 Asset Management, Inc. (E1 Asset) Ron Itin (Itin), and Ahsan Shaikh (Shaikh) concerning numerous irregularities and misconduct including allegations that between July 2008, and April 2012, including the failure to conduct reasonable supervisory reviews designed to detect and…

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