The Financial Industry Regulatory Authority Inc. (FINRA) awarded five UBS Financial Services’ clients more than $521,000 in compensatory damages in a case related to the clients' investments in Puerto Rican bonds and closed-end bond funds. The clients are all residents of Puerto Rico.  They claimed that UBS violated the Puerto Rico Uniform Securities Act and […]

AFinancial Industry Regulatory Authority (FINRA) arbitration panel awarded the client of CHRISTOPHER DUKE BENNETT (CRD#: 2510231), a broker with J.J.B. Hilliard, W.L. Lyons of Louisville, Kentucky, $445,000 in compensatory damages. The FINRA award was an additional $195,000 than what the client had sought in compensatory damages, but less than the final damage request for a […]

Soreide Law Group, based in South Florida, obtained the following information from the February, 2018, Disciplinary Report from FINRA: Jermaine Doral Joseph (CRD #6056737, Miami Gardens, Florida) was barred by FINRA for allegedly serving as a personal representative in two wills executed by a client, and served as a representative payee for a non-client with […]

Soreide Law Group, based in South Florida, obtained the following information from the February 2018 Disciplinary Report:  Investacorp, Inc. (CRD #7684, Miami, Florida) was censured and required to provide FINRA a plan to remediate eligible clients who qualified for, but did not receive, the applicable mutual fund sales-charge waiver. As part of this settlement, the […]

THOMAS TIRRELL RIQUIER CRD#: 400088, a financial advisor from Gloucester, Massachusetts, was charged April 14, 2018, with violating the Massachusetts Uniform Securities Act by Secretary of the Commonwealth. His employer, United Planners Financial Services of America, is charged with failure to supervise its agent. Thomas T. Riquier has been accused of a real estate scheme […]

Soreide Law Group obtained the following information from the January, 2018 FINRA Disciplinary Report: Bruce A. Lefavi Securities, Inc. (CRD #10684, Salt Lake City, Utah)  was censured and fined $25,000 for allegedly preparing four retail communications and distributing them to numerous clients containing content that pertained to Real Estate Investment Trusts (REITs) and/or Business Development […]

Soreide Law Group obtained the following information from FINRA’s January 2018 Disciplinary Report:  Success Trade Securities, Inc. (CRD® #46027, Washington, DC) and Fuad Ahmed (CRD #2404244, Washington, DC) A Securities and Exchange Commission (SEC) decision became final in which Success Trade Securities was expelled from FINRA® membership and Fuad Ahmed was barred from association with […]

MICHAEL ALAN SIEGEL (MICHAEL A SIEGEL) CRD#: 1950871, a Livingston, New Jersey broker will have his agent registration revoked and was fined $100,000 in civil penalties against him and his company NJLI Advisors L.L.C. after defrauding an elderly couple of at least $280,000, according to the Attorney General of New Jersey Bureau of Securities. Allegedly, Michael […]

JAMES S POLESE (CRD#: 2636427) and CORNELIUS PETERSON (CRD#: 5769919), both former Morgan Stanley financial advisors, pleaded guilty to fraud and conspiracy, according to the US Attorney in Boston. Polese also pleaded guilty to identity theft. Prosecutors say the two allegedly used client money for their own personal use.  According to court records, Polese and […]