JAMES EDWARD KNEE (JIM KNEE) CRD#: 1852920 has been barred by the Financial Industry Regulatory Authority Inc. (FINRA) for allegedly failing to take part in a FINRA hearing regarding his activities at his former employers, Ameriprise Financial Services and Voya Financial Advisors, both located in Concord, New Hampshire. According to FINRA, these allegations stemmed from […]

VAUGHN LEE ANDREWS-MCKAY (VAUGHN LEE ANDREWS) CRD#: 6491985 was barred by the Financial Industry Regulatory Authority Inc. (FINRA) in May of 2018.  Andrews-McKay, a former broker with PRUCO SECURITIES of Shelton, Connecticut, allegedly misappropriated $47,748.19 from two clients and forged signatures on checks taken from one of his clients. Andrews-McKay was discharged by PRUCO SECURITIES […]

AThe Financial Industry Regulatory Authority Inc. (FINRA) fined Fifth Third Securities $4 million and ordered it to pay approximately $2 million in restitution to their clients.  FINRA stated they fined Fifth Third for "failing to appropriately consider and accurately describe the costs and benefits of variable annuity exchanges." FINRA also stated that this was the […]

LEON WILLIAM VACCARELLI CRD#: 3227636, a 41 year-old financial advisor formerly with THE INVESTMENT CENTER of Waterbury, Connecticut, was charged with fraud and money laundering in a 12-count indictment in federal court. The charges against Vaccarelli include three counts of mail fraud, six counts of wire fraud, and three counts of money laundering. Leon Vaccarelli […]

Aclient of broker, MICHAEL JAMES KEANE (MICHAEL J KEANE) CRD#: 265697, and UBS of Melville, NY, was granted damages by the Financial Industry Regulatory Authority Inc. (FINRA) of $805,120. This is just the latest payment Keane faced in the past several years to satisfy client complaints. According to FINRA in this instance, from approximately May […]

JAMES S POLESE CRD#: 2636427, a 51 year-old Boston-area former Morgan Stanley investment advisor, pleaded guilty April 26, 2018, in federal court in Boston to one count of conspiracy and investment advisor fraud, eight counts of bank fraud, and one count of aggravated identity theft. Sentencing is scheduled for August 2, 2018. Polese, of Wenham, […]

Park Avenue Securities, LLC, was fined $300,000.00 and censured by the Financial Industry Regulatory Authority Inc. (FINRA) for its supervision of variable annuity (VA) sales. According to FINRA, from Jan. 1, 2013 through March 3, 2015, Park Avenue Securities allegedly "failed to establish, maintain and enforce a supervisory system and written supervisory procedures reasonably designed […]

Soreide Law Group, representing clients nationwide before FINRA, obtained the following information from the April 2018 Disciplinary Report from FINRA:  Guy Charles Conger (CRD #2280420, San Antonio, Texas) was assessed a deferred fine of $15,000 and suspended from association with any FINRA member in all capacities for six months for allegedly using discretion to place […]

Soreide Law Group, based in Florida, obtained the following information from FINRA’s website on Florida broker:  Jeffrey E. Krupnick (CRD #4307569, Sarasota, Florida)   An Office of Hearing Officers’ (OHO) decision became final in which Jeffrey E. Krupnick was barred from association with any FINRA member in all capacities. This FINRA sanction was based on […]