FRANCISCO JOSE ORTIZ (CRD#: 4677135 ), formerly with Wells Fargo Advisors in Miami, was suspended by FINRA for one month and fined him $5,000 for allegedly processing a fraudulent wire transfer request from an imposter posing as a client, according to FINRA. At the time of the allegations, FRANCISCO JOSE ORTIZ was a registered representative […]

Soreide Law Group has received calls from clients who purchased Cytori Therapeutics, Inc. (CYTX) and have suffered significant stock losses.  This security was offered by brokers at Laidlaw and Company, who were also the underwriter of the offering. Newly issued securities are typically more volatile than older more established companies, and if as an investor […]

Soreide Law Group has received calls from clients who purchased Affimed N.V., symbol (AFMD).  This security was offered by Laidlaw and Company, who also served as the underwriter of the offering. According to some of the facts on Yahoo Finance, Affimed N.V. is a clinical-stage biopharmaceutical company, which focuses on discovering and developing cancer immunotherapies […]

MCM Securities LLC (CRD #41571, New York, New York) was censured and fined $25,000 by FINRA following allegations that between April 2014 and June 2016, the firm distributed a total of 44 copies of offering documents in connection with the sale of three unregistered offerings of limited liability companies that were formed to build, own […]

Soreide Law Group, based in South Florida, obtained the following information from FINRA’s website under, “Disciplinary and Other FINRA Actions May 2018:”  Matthew Singer (Matthew Sam Singer)(CRD #4972708, Aventura, Florida) Singer was barred from association with any FINRA member in all capacities due to the fact that he allegedly refused to appear for FINRA on-the-record […]

The Forida-based Soreide Law Group obtained the following information from FINRA’s website under, “Disciplinary and Other FINRA Actions, May 2018.”  Michael Douglas Hanke (Mike Hanke) (CRD #3158013, Tampa, Florida) was assessed a deferred fine of $10,000 and suspended from association with any FINRA member in all capacities for one month for allegations that he executed […]

Alternative Investment Strategies Can Be Costly To Investors and Enrich Brokers Soreide Law Group recently filed a  FINRA arbitration for a customer of Laidlaw & Company for losses in several offerings where the firm is advertising through their website that they were the underwriter of the investments.  The offerings at issue are contained in the […]

JAMES EDWARD KNEE (JIM KNEE) CRD#: 1852920 has been barred by the Financial Industry Regulatory Authority Inc. (FINRA) for allegedly failing to take part in a FINRA hearing regarding his activities at his former employers, Ameriprise Financial Services and Voya Financial Advisors, both located in Concord, New Hampshire. According to FINRA, these allegations stemmed from […]

AThe Financial Industry Regulatory Authority Inc. (FINRA) fined Fifth Third Securities $4 million and ordered it to pay approximately $2 million in restitution to their clients.  FINRA stated they fined Fifth Third for "failing to appropriately consider and accurately describe the costs and benefits of variable annuity exchanges." FINRA also stated that this was the […]