Vision Financial Markets LLC, a futures commission merchant member, and Ace Investment Strategists LLC, a commodity trading advisor member were barred by the National Futures Association (NFA). Ace Investment's principal, Yu-Dee Chang, and Chesapeake Investment Services, Inc., an introducing broker of which Chang is a principal, were also barred from membership by the NFA. In […]

On November 3, 2014, the Securities and Exchange Commission (SEC) sanctioned 13 firms. According to the SEC, these firms violated the rule that is primarily designed to protect retail investors in the municipal securities market. A "minimum denomination" sets the smallest amount of the bonds that a broker/dealer is permitted to sell to a retail […]

Ralph Oelbermann (CRD# 1962900) an investment advisor and broker from Palm Beach Gardens, Florida, was fined $110,000 by state regulators and barred by the Florida Office of Financial Regulation (OFR) from working in Florida's financial industry. Oelbermann was previously registered at LPL Financial and J.W. Cole Financial, both of Palm Beach Gardens. It was reported […]

In an October 28th. 2014, InvestmentNews article by Mason Braswell, "UBS Facing Nearly $1 billion in Puerto Rico Claims," attorney Lars Soreide of Soreide Law Group is quoted by the author commenting on the cases he has filed in the alleged UBS Puerto Rico bond fraud. Soreide Law Group is still actively filing select UBS […]

Blair Christopher Mielke(CRD #1878222, Evansville, Indiana) and Frederick William Shultz(CRD #5239977, Evansville, Indiana) were barred by FINRA for allegedly participating in undisclosed private securities transactions, engaging in undisclosed outside business activities, and failure to report their outside business activities to their firm. FINRA's sanctions also alleged that Shultz and Mielke failed to respond to FINRA’s […]

Raymond James & Associates, Inc. (CRD #705, St. Petersburg, Florida) FINRA censured and fined Raymond James & Associates $22,500. FINRA's findings stated that allegedly Raymond James failed to execute customer limit orders in OTC (over-the-counter) securities after Raymond James traded each security for its own market-making account, and occasionally, failed to execute the order at […]

PAUL C. LARSEN (CRD# 1066833), formerly of VSR Financial Services, has had a long history of complaints with FINRA. He also has been sued many times for selling Tenant-in-Common (TIC) investments, non-traded REITs, and oil and gas investments. Larsen was permanently barred by FINRA from acting as a broker or otherwise associating with firms that […]

NOAH L. MYERS (CRD# 2387620) 43, an investment advisor from Lyme, Connecticut, pled guilty October 20, 2014, in federal court to defrauding his clients by “cherry-picking” securities. Myers admitted taking profits of $460,000 for himself, while his clients lost over $2 million. The majority of his clients who lost their investments were retired or using […]

Alan J. Becker (CRD #4870553, Bedford, New Hampshire) was assessed a deferred fine of $46,045, including the disgorgement of commissions received for $36,045, and was suspended by FINRA for 18 months for allegedly making unsuitable recommendations to six clients in the sales of variable universal life policies (VULs) based on their financial situations. FINRA's findings […]