Latest Securities Lawyer News

Massachusetts state officials have charged Morgan Stanley with “dishonest and unethical conduct,” saying it ran high-pressure sales contests. These alleged contests in Massachusetts and Rhode Island focused on the sales of securities-based loans (SBLs).  Authorities said clients were allowed to borrow against the value of the securities in their investment accounts with their securities as […]

VelocityShares 3x Long Crude Oil ETN (UWTI) 52 Week Range:  11.70 - 140.90 In June of 2009, the Financial Industry Regulatory Authority (FINRA) released FINRA Notice to Members 09-31 concerning Non-Traditional ETFs. The Notice states that, “inverse and leveraged ETFs that are reset daily are typically unsuitable for retail investors who plan to hold them […]

With dozens of oil and energy companies filing for bankruptcy, this is a very hard time for all oil and energy companies. Chesapeake Energy Corp (CHK)is yet another energy company facing huge problems. With the high supply, mixed with poor global economic conditions which are now leading to low demand, the price of oil is […]

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 […]