Recently FINRA, the Financial Industry Regulatory Authority, reissued an alert to investors on municipal securities—including municipal bonds or "muni bonds." These municipal bonds are securities issued by states, cities, counties and other governmental entities so that they can raise money to build roads, schools and a many other projects. Municipal securities can also include bonds […]

On January 9th., 2014, the Financial Industry Regulatory Authority (FINRA) ordered two St. Louis-based broker/dealers, Stifel, Nicolaus & Company, Incorporated and Century Securities Associates, Inc., to pay fines of $550,000 and $475,000 in restitution to 65 customers in connection with sales of leveraged and inverse exchange traded funds (ETFs). Stifel and Century are affiliates and […]

Recently FINRA issued an alert to investors regarding the purchase of securities "on margin." There was a 27% increase in trading on margin over the first nine months of 2013, which averaged to more than $406 billion. FINRA is concerned that investors are underestimating the risks of trading on margin. When the investors cannot satisfy […]

Soreide Law Group, (888) 760-6552, has obtained the following summation of information from FINRA’s website under “Disciplinary and Other FINRA Actions, December, 2013.” Joann Jackson (CRD #2246952, Registered Representative, Coeur d’Alene, Idaho) was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Joann Jackson consented to the described […]

The following summation of information was obtained on FINRA’s website under “Disciplinary and Other FINRA Actions, December, 2013.” Charles Scot Jacobi (CRD #1209710, Registered Principal, Palatine, Illinois) was fined $25,000, suspended from association with any FINRA member in any capacity for one month, and ordered to retake the examinations for the Series 7 and 63 […]

Soreide Law Group, (888) 760-6552, obtained the following summation of information on FINRA’s website under “Disciplinary and Other FINRA Actions, December, 2013.” Steven Lee Goldberg (CRD #1077437, Registered Principal, St. Louis, Missouri) was fined $15,000 and suspended from association with any FINRA member in any capacity for two months. Without admitting or denying the findings, […]

The following summation was obtained on FINRA’s website under “Disciplinary and Other FINRA Actions, December, 2013.” Michael J. Davey (CRD #4905761, Registered Principal, Nashua, New Hampshire) fined $5,000 and suspended from association with any FINRA member in any capacity for three months. Without admitting or denying the findings, Davey consented to the described sanctions and […]

Soreide Law Group, (888) 760-6552, obtained the following summation of information on FINRA’s website under “Disciplinary and Other FINRA Actions, December, 2013.” James Arnold Busch (CRD #1982074, Registered Representative, Atlanta, Georgia) was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Busch allegedly utilized his customers’ bank account […]

The following summation was obtained on FINRA’s website under “Disciplinary and Other FINRA Actions, December, 2013.” Joan Lund Barere (CRD #5710454, Registered Representative, Norwalk, Connecticut) was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Barere failed to respond to FINRA requests for information concerning the alteration of […]