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October 20, 2011
Clyde Benninghoff, Amelia Island, FL, Barred by FINRA

Clyde Allen Benninghoff (CRD #18463, Registered Principal, Amelia Island, Florida)   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, Benninghoff consented to the described sanction and to the entry of findings that he facilitated securities […]

October 19, 2011
Weston, Florida, Broker Jeffrey Scott Donner, Named in FINRA Complaint

Jeffrey Scott Donner (CRD #2631248, Registered Principal, Weston, Florida)   was named as a respondent in a FINRA complaint alleging that he executed transactions in the accounts of customers at his member firm without their prior knowledge, authorization or consent.   This complaint alleges that Donner exercised discretion in a customer’s account and effected securities transactions […]

October 19, 2011
Mark Alan Weber of Palm City, FL, Fined and Suspended by FINRA

Mark Alan Weber (CRD #2322177, Registered Representative, Palm City, 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, Weber consented to the described sanctions and to […]

October 19, 2011
Florida Broker, Carlos Otalvaro, Fined and Suspended by FINRA

Carlos Francisco Otalvaro (CRD #2294420, Registered Principal, Coral Gables, Florida)   was fined $15,000, suspended from association with any FINRA member in any capacity for one year, and barred from association with any FINRA member in any principal capacity. This fine shall be due and payable upon Otalvaro’s return to the securities industry.   These […]

October 19, 2011
Brookstone Securities Fined Again by FINRA

  Brookstone Securities, Inc. (CRD #13366, Lakeland, Florida)   submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $15,000. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that it failed to disclose and to timely disclose material […]

October 19, 2011
FINRA Fined and Censured Tradespot Markets Inc., and Mark Bedros Beloyan Suspended

The following article was found on FINRA's website: Tradespot Markets Inc. (CRD #29683, Davie, Florida) and Mark Bedros Beloyan (CRD #1392748, Registered Principal, Davie, Florida) submitted an Offer of Settlement in which the firm was censured and fined $25,000, and Beloyan was suspended from association with any FINRA member in any capacity for one month […]

October 18, 2011
Ambac Financial Group, Inc. (ABK) to Repurchase $400 Million in Common Stock

The following article appeared on Ambac Financial Group, Inc.'s website. NEW YORK--Ambac Financial Group, Inc. (NYSE:ABK) today announced the closing of 6.15% $400 million Directly-Issued Subordinated Capital Securities (DISCS(SM)). The DISCs were sold at a discount to par to yield 6.199%. The article goes on to say that Ambac will use all of the net proceeds […]

October 17, 2011
Insured's “Intent” Is Not an Issue in Pa. Life Settlements Case

It was announced that a federal court decision in Pennsylvania has given a win for life settlement investors, deflating carriers' argument that it is permissible for an insured person to apply for a life settlement with the express intent to sell it to a third party, writes Darla Mercado in an InvestmenNews.com article from October 12, 2011. […]

October 11, 2011
Brookstone Securities, Inc. and Brokers Censured and Fined by FINRA in Two Separate Cases Involving Private Placements

  The following appeared on FINRA's website in the 'Disciplinary Actions.' Brookstone Securities, Inc. (CRD #13366, Lakeland, Florida) and David William Locy (CRD #4682865, Registered Principal, Overland Park, Kansas) the firm and Locy were censured and fined $25,000, jointly and severally. Without admitting or denying the findings, the firm and Locy consented to the described sanctions […]

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