Securities Lawyer Blog | Victim of Fraud?

TAG | broker trading without customer consent

Aug/12

20

Miami Rep Fined and Suspended by FINRA

Comments off · Posted by Securities Lawyer in FINRA

Alejandro C. Rotundo (CRD #4627887, Registered Representative, Miami, Florida)

was fined $5,000 and suspended from association with any FINRA member in any capacity for 30 business days.

Without admitting or denying FINRA’s findings, Rotundo consented to the described sanctions and to the entry of findings that he executed option trades in a customer’s account without the customer’s written authorization and without his member firm’s acceptance of the account as discretionary.

FINRA’s findings stated that Rotundo’s discretionary trading activity resulted in customer losses of $489,230, which his firm reimbursed to the customer.

The suspension was in effect from June 18, 2012, through July 30, 2012.
(FINRA Case #2010024417501)

This information was found on FINRA’s website under “Disciplinary and Other FINRA Actions, August, 2012.”

Securities Lawyer, Lars K. Soreide, of Soreide Law Group, PLLC, represents clients nationwide. If you have investment losses, call for a free consultation on how to potentially recover those losses. To speak with an attorney call 888-760-6552, or visit our website at: http://www.securitieslawyer.com.

· · · · · · · · · · · · · · · · · · ·

Jun/12

18

Milton Ault Fined and Suspended by FINRA

Comments off · Posted by Securities Lawyer in FINRA

Milton Charles Ault III (CRD #2157788, Registered Principal, Fountain Valley, California)

was fined $75,000, he was suspended from association with any FINRA member in any capacity for two years and Ault was ordered to pay $312,916.06, plus interest, in restitution to investors. This fine must be paid either immediately upon Ault’s reassociation with a FINRA member firm following his suspension, or prior to the filing of any application or request for relief from any statutory disqualification, whichever is earlier.

Without admitting or denying FINRA’s findings, Ault consented to the described sanctions and to the entry of findings that he effected transactions in customer accounts (and also the relatives of two of the customers) without the customers’ prior knowledge, authorization or consent.

FINRA’s findings stated that Ault failed to remit payment for a securities transaction to a customer and failed to deliver securities to the customer.

Milton Charles Ault’s suspension is in effect from May 7, 2012, through May 6, 2014.

(FINRA Case #2008016157101)

Securities Lawyer, Lars K. Soreide, of Soreide Law Group, PLLC, has represented many clients nationwide. If you or a family member sustained investment losses due to your stock broker or financial advisor’s recommendations, call for a free consultation on how to potentially recover your losses. To speak with an attorney call 888-760-6552, or visit our website at: http://www.securitieslawyer.com.

Soreide Law Group, PLLC., representing investors nationwide before FINRA the Financial Industry Regulatory Authority.

· · · · · · · · · · · · · · · · · · · ·

Feb/12

28

Florida Rep Fined and Suspended by FINRA

Comments off · Posted by Securities Lawyer in FINRA

The following information was obtained on FINRA’s website’s ‘Disciplinary Actions, February 2012.”
 
Charles Rainsford Marks Jr. (CRD #4727907, Registered Representative, South Jacksonville, Florida)
 
submitted a Letter of Acceptance, Waiver and Consent in which he was fined
$5,000 and suspended from association with any FINRA member in any capacity for 10 business days. The fine must be paid either immediately upon Marks’ reassociation with a FINRA member firm following his suspension, or prior to the filing of any application or request for relief from any statutory disqualification, whichever is earlier.
 
Without admitting or denying the findings, Marks consented to the described sanctions and to the entry of findings that he exercised discretion in the accounts of customers who had authorized him to use discretion, but without their written authorization and without his member firm’s acceptance, in writing or otherwise, of the accounts as being discretionary.
 
These findings stated that Marks exercised discretion in a customer’s accounts without written authorization by executing a number of trades without first contacting the customer and without his firm’s prior approval. The findings also stated that Marks exercised discretion in another customer’s accounts by selling shares in several mutual funds valued at approximately $10,000 and reinvesting the proceeds in various stocks, without the customer’s written authorization and without his firm’s prior approval. The suspension was in effect from December 19, 2011, through January 3, 2012.
(FINRA Case #2010021318501)
 
The information from FINRA’s website has ended.
 
Securities Lawyer, Lars K. Soreide, of Soreide Law Group, PLLC, has represented clients nationwide. For a free consultation with an attorney, please call 888-760-6552, or visit our website at:  www.securitieslawyer.com.

· · · · · · · · · · · · · · · · · · · · · · · ·

Find it!

Theme Design by devolux.nh2.me
To top