Louis James Deeley (CRD #5830647, Santa Rosa, California) AKA: LOUIS POPP III was barred by FINRA for allegedly converting $24,014 from the bank account of his firm’s client for his own personal use and benefit. FINRA's findings stated that on separate occasions, Deeley submitted completed withdrawal slips to a bank teller containing a signature that […]

Raymond Thomas Clark (CRD #3120696, Williamsville, New York) was barred by FINRA for failing to appear for FINRA-requested on-the-record testimony. This request was related to an investigation into whether he allegedly executed excessive and/or unauthorized transactions in customer accounts, exercised discretion without authorization, and accepted trade instructions from an individual who was not authorized to […]

The Securities and Exchange Commission (SEC) announced that it has charged the co-owners of Manhattan-based brokerage firm, Arjent LLC, and its UK-based affiliate, Arjent Limited, with fraud. The chairman and CEO Robert P. DePalo, according to the SEC, attempted to keep the firms afloat and yet maintain his extravagant lifestyle. Allegedly, DePalo sold shares in […]

Cambridge Investment Research, Inc. (CRD #39543, Fairfield, Iowa) was censured and fined $250,000 for allegedly failing to identify and apply “rollover” and exchange discounts to certain clients with eligible purchases of unit investment trusts (UIT), which resulted in those clients paying $423,774.27 in excessive sales charges. FINRA's findings stated that Cambridge Investment Research has paid […]

WILLIAM M. QUIGLEY (CRD# 1968265) aka BILL QUIGLEY, Seaford, Long Island, a former chief compliance officer at a Woodbury, New York, brokerage firm, was charged in a two-count indictment by federal prosecutors with conspiring to defraud investors of more than $500,000, on Thursday, May 28, 2015 According to FINRA's BrokerCheck, Bill Quigley was previously registered […]

The Financial Industry Regulatory Authority, also known as FINRA, has recently established a new hotline for older investors. The new toll-free Securities Helpline for Seniors is: 1-844-57-HELPS (1-844-574-3577) Within the past four weeks, approximately 350 calls have come in from seniors looking for more information about investment products. They are also able to report broker […]

Sam Marshall Stull (CRD #5268858, Grapevine, Texas) was barred by FINRA for allegedly forging the signatures of clients on member firm documents including beneficiary information sheets, investment switch letters and account profile confirmations. FINRA's findings stated that Stull failed to provide FINRA-requested documents and information related to an investigation into the forgery. (FINRA Case #2014042589601) […]

Raymond Sardina (CRD #3068885, Miami, Florida) was suspended by FINRA for one month for allegedly borrowing $10,000 from a client. His member firm’s policies and procedures prohibit borrowing money from clients. Sardina repaid the loan while the individual was still a client of the firm. FINRA's findings stated that Sardina neither notified the firm that […]

Tammy Charlene Petersen (CRD #4161501, Carrollton, Virginia) aka TAMMY CHARLENE BARBER, TAMMY CHARLENE BARBER, TAMMY CHARLENE BROUSSARD, TAMMY CHARLENE BROUSSARD, or TAMMY PETERSEN was barred by FINRA for allegedly converting approximately $107,378 from her member firm clients for her own personal use and benefit without the clients’ knowledge or consent. FINRA's findings stated that Petersen […]