Soreide Law Group obtained the following information from FINRA’s website under, “Disciplinary and Other FINRA Actions, October 2016.” Caldwell International Securities Corporation (CRD #104323, Nassau, Bahamas), Greg Allen Caldwell (CRD #2816295, Austin, Texas) and Paul Joseph Jacobs (CRD #4658235, Austin, Texas) The firm was censured, fined $1,000,000, and required to pay $1,026,089.48 in restitution to […]

Massachusetts state officials have charged Morgan Stanley with “dishonest and unethical conduct,” saying it ran high-pressure sales contests. These alleged contests in Massachusetts and Rhode Island focused on the sales of securities-based loans (SBLs).  Authorities said clients were allowed to borrow against the value of the securities in their investment accounts with their securities as […]

JEROME S. KRAUSE (CRD# 1582647) Alternate Name: JERRY KRAUSE, formerly with First Heartland Capital Inc., must pay $600,000 in damages to an elderly couple after he allegedly took money from them, according to the Financial Industry Regulatory Authority Inc. (FINRA). FINRA stated that Jerome S. Krause’s clients, both in their 80s, claimed Krause used his […]

VelocityShares 3x Long Crude Oil ETN (UWTI) 52 Week Range:  11.70 - 140.90 In June of 2009, the Financial Industry Regulatory Authority (FINRA) released FINRA Notice to Members 09-31 concerning Non-Traditional ETFs. The Notice states that, “inverse and leveraged ETFs that are reset daily are typically unsuitable for retail investors who plan to hold them […]

With dozens of oil and energy companies filing for bankruptcy, this is a very hard time for all oil and energy companies. Chesapeake Energy Corp (CHK)is yet another energy company facing huge problems. With the high supply, mixed with poor global economic conditions which are now leading to low demand, the price of oil is […]

Former financial advisor, JOHN V. HEATH (CRD# 2331052), 45 years-old, from Edina, Minnesota, pleaded guilty this week to identity theft.  Heath admitted to cheating an elderly man out of more than $200,000. He agreed to a 41-month sentence, and will serve the first two-thirds in prison and the remainder on supervised release. According to the […]

Recently, the Financial Industry Regulatory Authority (FINRA) censured and fined Investment Professionals Inc. (IPI) $170,000, for allegedly failing to supervise nine of its brokers.  FINRA stated that these brokers were dually registered at Investment Professionals Inc., and at other firms which were not connected to IPI. Investment Professionals Inc., or IPI, has been based in […]

Soreide Law Group obtained the following information on FINRA’s website from the September 2016, disciplinary report: Laidlaw & Company (UK) LTD. (CRD #119037, London, England) was censured, fined $10,000 and required to pay $27,787.07, plus interest, in restitution to clients for allegedly charging commissions plus a “handling fee” on certain transactions (which took place from […]

Soreide Law Group obtained the following information from FINRA’s website under, “Disciplinary and Other FINRA Actions, September 2016.” David C. Cannata (CRD #2408845, Smithtown, New York) was barred by FINRA and ordered to pay $1,566,298.14, plus interest, in restitution to clients. The sanctions were based on findings that Cannata allegedly made unsuitable recommendations and excessively […]