Latest Securities Lawyer News

In a recent article from Barron’s, it was reported that the Financial Industry Regulatory Authority (FINRA) took action against two brokers for their conduct related to communicating with clients through unauthorized text messages.  FINRA wants to ensure that all communications between clients and advisors must go through the appropriate channels. One of the brokers mentioned […]

According to a press release from the United States Department of Justice, on August 18, 2022, a Judge from the U.S. District Court for the District of South Carolina sentenced Scott Kohn, 68, of Newport, California, to 10 years in prison for his role as the mastermind of a nationwide Ponzi scheme, Future Income Payments […]

The Financial Industry Regulatory Authority (FINRA) reports client disputes involving securities broker Joseph Harold Sterling (CRD#: 1101378, Apple Valley, Minnesota). Three of those disputes concern Sterling's actions while he worked for Geneos Wealth Management Inc., and one of the disputes concerns Sterling's actions with SunAmerica Securities Inc. Let's take a closer look at the allegations […]

The Financial Industry Regulatory Authority (FINRA) contains important information regarding securities broker David Michael Stevens (CRD#: 2830472, La Jolla, California). Evidently, Stevens worked for securities firms Northwestern Mutual Investment Services (2011 to 2013), MML Investors Services (2014 to 2015), and Park Avenue Securities LLC (2015 to 2020). It seems that FINRA barred Stevens as a […]

Financial industry watchdog, FINRA, barred securities broker Michael Paul Francoeur (CRD#: 5534184, Somersworth, New Hampshire). Notably, this bar prevents Francoeur from associating with FINRA-member firms, some of whom are major financial institutions. It appears that Francoeur refused to give information to FINRA in regards to a client complaint. Also, BrokerCheck shows that Cambridge Investment Research […]

Soreide Law Group has filed a FINRA arbitration on behalf of our client (Claimant) against: DOMINION INVESTOR SERVICES, INC., and their registered representative, LANCE C WALSTON (Respondents). The Claimant is 58 years-old, self-employed, and living in Texas. The Claimant opened an account in 2017 with DOMINION INVESTOR SERVICES broker, LANCE COLBY WALSTON. The lawsuit states […]

Soreide Law Group is examining potential investor disputes concerning securities broker Marlyn Leroy McClain, aka Marlyn McClain and Marylou McClain (CRD#: 325415, Elkhorn, Nebraska). Evidently, McClain joined NYLife Securities LLC as a securities broker in October 1982. Currently, BrokerCheck shows that four investors filed disputes concerning suitability and representations relating to insurance transactions. Here's a […]

The Financial Industry Regulatory Authority (FINRA) BrokerCheck report on Lisa Ann Brumm, aka Lisa Ann Moon (CRD#: 2834764, Portland, Oregon), contains two investor disputes and a regulatory action. Supposedly, the investor disputes from 2017-2019 concern Brumm's registrations at AXA Advisors, who is now known as Equitable Advisors. The regulatory action, which FINRA brought in 2021, […]

The Pompano Beach based law firm, Soreide Law Group, has filed a lawsuit in the Financial Industry Regulatory Authority “FINRA” Arbitration forum Against PFS Investments, Inc., “PFS” and their former Financial Advisor Jerry Roman for Mr. Roman recommending to PFS customers to invest in MJ Capital Funding. PFS stands for Primerica Financial Services. The Pompano […]