The Financial Industry Regulatory Authority also known as FINRA, is hoping to make information about brokers more accessible to the investors, which they feel would hold those in the industry more accountable for their actions. In September, FINRA voted to submit proposals to the U.S. Securities and Exchange Commission (SEC) that would make information in […]

Carlos Dawkins aka Andy Dawkins (CRD #5340915, Registered Representative, Douglasville, Georgia) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Dawkins consented to the described sanction and to the entry of findings that he improperly shared […]

Stephen Paul Tommelleo (CRD #1597585, Registered Principal, Boca Raton, Florida) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000, suspended from association with any FINRA member in any capacity for three months and ordered to pay $14,990, plus interest, in restitution to a customer. Without admitting or denying the findings, […]

Stephen Nietsch (CRD #3111082, Registered Representative, Boynton Beach, Florida) was barred from association with any FINRA member in any capacity and ordered to pay $20,000, plus interest, in restitution to a customer. The sanctions were based on findings that Nietsch borrowed $20,000 from an elderly customer contrary to his member firm’s procedures prohibiting him from […]

David Marasek (CRD #2866848, Registered Representative, Boca Raton, Florida) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for 10 business days. Without admitting or denying the findings, Marasek consented to the described sanctions and to the entry of […]

Brent Keith Deviney (CRD #2131402, Registered Representative, West Palm Beach, Florida) was barred from association with any FINRA member in any capacity. The sanction was based on findings that Deviney failed to respond to FINRA requests for information and documents, and to appear for on-the-record interviews in connection with an investigation of allegations that Deviney […]

Patrick Alan Deramus (CRD #1718409, Registered Principal, Tampa, Florida) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for six months. Without admitting or denying the findings, Deramus consented to the described sanctions and to the entry of findings […]

Robert Nunes Da Frota (CRD #2137208, Registered Representative, Fort Myers, Florida) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $10,000, suspended from association with any FINRA member in any capacity for six months and ordered to make full repayment of the outstanding balance on a customer’s loan. Without admitting or […]

Clifford Jagodzinski, formerly of Morgan Stanley Smith Barney LLC (MSSB), claims he was fired for blowing the whistle on one of the firm's newest wealth managers, Harvey Kadden. According to the complaint, filed in U.S. District Court in the Southern District of New York, Kadden “was flipping preferred securities in a manner that was generating […]