Henry McLain Dickinson III (CRD #727492, Katy, Texas) was suspended by FINRA for 20 business days for allegedly, through his member firm, charging excessive mark-ups on riskless principal corporate bond transactions through improper interpositioning. FINRA's findings stated that this involved the nearly simultaneous purchase from one customer and sale to another customer of the same […]

Michael Richard Crow (CRD #57845, San Jose, California) was fined $7,500 and suspended by FINRA for 30 business days for allegedly exercising discretion in a client’s account without his member firm’s prior written authorization. FINRA's findings stated that allegedly Crow had exercised discretion in a client’s non-discretionary account and without a power of attorney after […]

Andrew James DeVine (CRD #5048058, O’Fallon, Illinois) was barred by FINRA for allegedly misappropriating $739 from clients of his member firm’s insurance affiliate by taking funds intended to pay insurance premiums and instead using the funds for his own personal benefit. (FINRA Case #2013038128101) Andrew James DeVine was registered in the securities industry for 7 […]

Stuart Anthony Cahill (CRD #2556996, Dallas, Pennsylvania) was assessed a deferred fine of $10,000 and suspended by FINRA member in any capacity for one year for allegedly borrowing a total of $65,000 from two clients of his firm, contrary to the firm’s WSPs prohibiting borrowing money from customers. FINRA's findings stated that Cahill failed to […]

Chris Fulco (CRD #4093586, Staten Island, New York) barred by FINRA for allegedly participating, either directly or indirectly, in the sales of a non-public company’s shares away from his member firms without providing written notice to or receiving approval from his firms. FINRA's findings stated that Fulco concealed his involvement in the transactions, from one […]

Soreide Law Group is currently investigating UBS Financial Services (UBS) in the sale of UBS V10 Enhanced FX Carry Strategy. UBS is one of the largest FX dealers and was recently under investigation by Switzerland's regulatory authority, FINMA, into potential FX benchmark manipulation. As a result, they were severely penalized. Bloomberg describes the product as […]

David Lee Shafranek (CRD #2919901, Long Beach, New York) was fined $10,000 and suspended by FINRA for 20 business days allegedly, without his member firm’s knowledge or approval, participated in private securities transactions by soliciting at least four of his firm’s clients to invest in a start-up company. FINRA's findings stated that the firm’s policies […]

Randall A. Samson (CRD #2691518, Manteca, California) was barred by FINRA for allegedly converting $10,000 from the 401(k) account of an employee, who was also a client, of his member firm. FINRA's findings stated that Samson, without the individual’s knowledge or consent, used his position as the plan’s trustee to complete a $10,000 distribution from […]

(Note to our readers: Soreide Law Group has filed 3 FINRA arbitrations against Dean S. Mustaphalli for our clients in New York totaling over $1 million in losses.) Dean Sadrudin Mustaphalli (CRD #2792038, Commack, New York) was assessed a deferred fine of $20,000, suspended from association with any FINRA member in any capacity for two […]