In an October 15, 2014, article from the South Florida Business Journal, Brian Bandell lists the following four FINRA actions taken recently: 1. Andrew S. Taubman of Weston, FL, formerly with NFP Securities from 2005 to 2010 and now a principal at Fort Lauderdale accounting firm Kaufman, Rossin & Co., was fined $10,000 and suspended […]

John J. Katsock, Sr., 74, a financial advisor and accountant from Yardley, Pennsylvania, has been accused of stealing over $200,000 from a client’s trust. His business, J. J. Katsock & Company, is in Fairless Hills, Pennsylvania. Katsock was charged with second degree theft, second degree deception and second degree misapplication of entrusted property. His bail […]

Fort Lauderdale-based Soreide Law Group, (888) 760-6552, obtained the following summary of information from FINRA’s website, under “Disciplinary and Other FINRA Actions, September, 2014.” Edward James Wendol (CRD #2392007, Spring Hill, Florida) was barred by FINRA for alleged failure to comply with FINRA’s request for documents and information, and failure to appear and provide testimony. […]

Soreide Law Group, a Securities Arbitration Law Firm, (888) 760-6552, obtained the following summation of information on FINRA’s website under “Disciplinary and Other FINRA Actions, September, 2014.” Morgan Stanley Smith Barney LLC (CRD #149777, Purchase, New York) was censured, fined $1,000,000, and required to conduct a review of their systems and written procedures which are […]

Soreide Law Group, (888) 760-6552, has obtained the following summation of information from FINRA’s website, under “Disciplinary and Other FINRA Actions, September, 2014.” Dean Sadrudin Mustaphalli (CRD #2792038, Commack, New York) has been named a respondent in a FINRA complaint. This complaint alleges that over a six-month period, Dean S. Mustaphalli formed and acted as […]

Robert E. Lee Jr.,(CRD# 1824202) 50, a broker and financial advisor from Oxford, Connecticut, was charged with allegedly operating a Ponzi scheme. He was charged with five counts of wire fraud on Oct. 7, 2014. A New Haven grand jury returned the indictment and each count of wire fraud carries a maximum term of 20 […]

Soreide Law Group is often involved in both mediations and arbitrations, and are asked quite frequently what the difference is between the two. Below is a brief summary on what FINRA considers an arbitration and a mediation. An arbitration is adjudicated which is a legal process by which an arbitrator reviews evidence and argumentation including […]

Soreide Law Group's client won an $86,000 award in a FINRA arbitration representing 100% of the client's investment losses against NSM Securities of West Palm Beach, Florida. The alleged charges against NSM were; negligence, breach of fiduciary duty, negligent supervision, breach of contract, and fraud. The causes of this action related to the purchase of […]

The Financial Industry Regulatory Authority Inc. (FINRA) charged SWS Financial Services Inc. with violating the rules requiring firms to have supervisory systems and written procedures to supervise variable annuity transactions. Allegedly, SWS allowed several variable annuity applications with no principal review for suitability. FINRA alleges that this occurred from Sept. 2009 to May 2011. These […]