The former brokerage, Howe Barnes Hoefer & Arnett of Chicago, which in 2010 was acquired by Raymond James Financial, Inc., was fined $200,000 by FINRA, the Financial Industry Regulatory Authority. The reason for the fine and censure was because of excessive markups of U.S. Treasury and agency STRIPS and zero-coupon municipal bonds. FINRA also allegedly found their trading practices, and supervision to be questionable.
$76,000 of the fine was related to the alleged violations of Municipal Securities Rulemaking Board rules and the remainder of the fine was because of alleged violations of the rules of NASD, which was FINRA's predecessor.
If you have sustained investment losses due to your stockbroker or financial advisor’s recommendations from investing in alternative or non-conventional products, call for your free consultation on how to potentially recover those losses. Call Soreide Law Group today: 888-760-6552.
Investors potentially experienced sales practice violations by securities broker Rajesh Markan [CRD: 4553309, Dallas, Texas], and United States Securities and Exchange Commission barred him, based on public information on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Markan worked for Merrill Lynch from May 8, 2009, through November 4, 2022, and Hilltop Securities Inc. from October 5, […]
Investors potentially incurred losses because of securities broker Tory Duggins [CRD: 4556340, New York, New York], and FINRA barred him, given the public information found on FINRA BrokerCheck. Duggins worked for Spartan Capital Securities LLC from February 29, 2016, to January 31, 2024. See below to find out more about Duggins’s disclosures. FINRA Sanctioned Duggins […]
Financial Industry Regulatory Authority (FINRA) barred securities broker Brian James Pavelko [CRD: 6347352, Milpitas, California], according to information disclosed through BrokerCheck. Pavelko worked for SW Financial from September 20, 2018, to March 3, 2022, and NI Advisors from March 13, 2022, to December 23, 2025. Investors are encouraged to continue reading to learn more about […]
Phone:
Fax: 1-954-760-6553
Email: info@securitieslawyer.com