Recently, the Financial Industry Regulatory Authority (FINRA) censured and fined Investment Professionals Inc. (IPI) $170,000, for allegedly failing to supervise nine of its brokers.  FINRA stated that these brokers were dually registered at Investment Professionals Inc., and at other firms which were not connected to IPI. Investment Professionals Inc., or IPI, has been based in […]

Soreide Law Group obtained the following information on FINRA’s website from the September 2016, disciplinary report: Laidlaw & Company (UK) LTD. (CRD #119037, London, England) was censured, fined $10,000 and required to pay $27,787.07, plus interest, in restitution to clients for allegedly charging commissions plus a “handling fee” on certain transactions (which took place from […]

Soreide Law Group obtained the following information from FINRA’s website under, “Disciplinary and Other FINRA Actions, September 2016.” David C. Cannata (CRD #2408845, Smithtown, New York) was barred by FINRA and ordered to pay $1,566,298.14, plus interest, in restitution to clients. The sanctions were based on findings that Cannata allegedly made unsuitable recommendations and excessively […]

Former broker DOUGLAS W. STUDER (CRD# 4440047) Alternate Names: DOUG STUDER has been barred recently by FINRA for refusing to appear for on-the-record testimony as requested by FINRA.  Studer was allegedly involved in an investigation into whether he had violated his employing member firm's policy by being named in an elderly client's estate documents to […]

The Soreide Law Group, obtained the following information from FINRA’s website under, “Disciplinary and Other FINRA Actions, September 2016.” Jorge Enrique Gutierrez Gomez (CRD #2246876, Palmetto Bay, Florida) was assessed a deferred fine of $5,000 and suspended from association with FINRA members in any capacity for 20 business days. Jorge Gutierrez Gomez allegedly failed to […]

The Soreide Law Group is investigating former RBC of West Palm Beach broker, PAUL V. BLUM (CRD# 735003).  This investigation is centered on the misconduct of former broker Blum related, in part, to junk bonds.  These bonds allegedly were unsuitable for clients and caused huge losses in energy and other investments, totaling hundreds of thousands […]

In August, FINRA suspended top producing advisor, ADAM D. ESTES (CRD# 4089657), of Hilliard Lyons, Bloomington, Indiana, for 15 months, and fined Estes $15,000. Allegedly, Estes engaged in 11 private securities transactions without his firm's permission which totaled over $1.2 million between May of 2012, and March of 2014.  Estes provided about $652,000 and other […]

The Financial Industry Regulatory Authority (FINRA) accused a New York broker with K. C. Ward Financial of Long Island, with charging a 72-year-old retiree $376,000 in fees and commissions after allegedly making repeated unauthorized trades of her Colgate-Palmolive Co. stock. CRAIG D. DIMA (CRD# 2314389), of K.C. Ward Financial, was charged with making unauthorized and […]

JEROME P. BONNETT JR (CRD# 2143822) (JEROME "JOE" BONNETT JR, JEROME PATRICK BONNETT, JR.) 51 years-old, from Omaha, Nebraska, killed himself in May, 2016, after his Bonnett Wealth Management began unraveling, with allegations that he paid old investors with proceeds from new ones, borrowed money from clients and forged documents. Also in May, Bonnett was […]