Golden Beneficial Securities Corporation, a Texas securities firm, was ordered to pay $2.5 million to a couple who invested with the firm by the Financial Industry Regulatory Authority (FINRA) for failing to supervise their broker who was allegedly involved in a Ponzi scheme. The Texas couple accused Golden Beneficial Securities Corp. of failing to safeguard […]

Soreide Law Group, based in Ft. Lauderdale, Florida, is currently investigating Oriental Financial Services Corp., which operates as a subsidiary of Oriental Financial Group Inc., on behalf of clients who have suffered losses in the risky Puerto Rican municipal bond funds. Oriental Financial is headquartered in San Juan, Puerto Rico. They offer financial services in […]

Soreide Law Group, (888) 760-6552, has obtained this summation of information on FINRA’s website under “Disciplinary and Other FINRA Actions, March, 2014.” Edward Shea Brokaw (CRD #1162997, Registered Principal, Darien, Connecticut) was suspended for one year and fined $30,000 by FINRA. This following the SEC sustaining the sanctions following an appeal of a National Adjudicatory […]

The Financial Industry Regulatory Authority (FINRA) has said that it is examining the trading in the $3.5 billion of general-obligations that Puerto Rico sold this month in the largest ever high yield offering. These bonds are clearly not for the small investor. Puerto Rico sold the debt on March 11th., giving the island enough cash […]

On March 24th., 2014, LPL Financial was fined $950,000 for supervisory failures in the sales of alternate investments by the Financial Industry Regulatory Authority (FINRA). The deficiency in supervision is related to oil and gas partnerships, non-traded REITS, hedge funds, to name a few, and other illiquid investments. This fine is the latest in a […]

The following information was obtained on FINRA's Website under “Disciplinary and Other FINRA Actions, March, 2014.” Andres Enrique Rojas (CRD #4799671, Registered Representative, Miami, Florida) has been barred by FINRA for allegedly participating in impersonating a customer and obtaining online access to the customer’s account. Andres Rojas also made a false statement to his firm […]

Fort Lauderdale-based Soreide Law Group, (888) 760-6552, obtained this summation of information from FINRA’s website listed under “Disciplinary and Other FINRA Actions, March, 2014.” Jeffrey Griffin Lane (CRD #1663977, Registered Principal, Darien, Connecticut) and Robert Marcus Lane Jr. (CRD #1411773, Registered Principal, North Palm Beach, Florida) FINRA has fined Jeffrey Lane $25,000, barred him from […]

A Morgan Stanley broker, Vladimir Eydelman, 42, and a law firm employee, Steven Metro, 40, managing clerk at Simpson Thacher & Bartlett LLP in New York, were charged with insider trading on March 19th. Steven Metro, was accused of stealing confidential data on 13 corporate transactions and telling a middleman who then passed it on […]

The following summation of information is from FINRA's website under, "Disciplinary and Other Actions, March, 2014." Ariel Luis Hernandez (CRD #2684424, Registered Principal, Pembroke Pines, Florida) was barred by FINRA. Hernandez, according to FINRA's report, allegedly did not comply with requests for documents, information and testimony. FINRA began an investigation because of a Uniform Termination […]