Barclays Capital Inc. (CRD #19714, New York, New York) was censured, fined $155,000 and required to revise its Written Supervisory Procedures (WSPs) for allegedly submitting inaccurate short interest position reports to FINRA, and failed to report to FINRA its short interest positions. FINRA's findings stated that Barclays Capital’s supervisory system did not provide for compliance […]

Fidelity Brokerage Services LLC (CRD #7784, Smithfield, Rhode Island was censured and fined $350,000 by FINRA for allegedly overcharging 20,663 client accounts approximately $2.4 million. FINRA's findings stated that Fidelity Brokerage Services did not have reasonable supervisory systems or procedures to ensure that clients were charged accurate fees for accounts managed by third-party investment advisors. […]

Florida-based Soreide Law Group, (888) 760-6552, has obtained the following summation from FINRA's website under “Disciplinary and Other FINRA Actions March 2015.” Jennifer Joice Trowbridge (CRD #4310649, Boca Raton, Florida) was assessed a deferred fine of $10,000 and suspended by FINRA for two months for allegedly recommending a series of mutual fund switches in clients […]

Kevin Luby (CRD #4568246, Port Orange, Florida) was assessed a deferred fine of $25,000 and suspended by FINRA for 10 months for allegedly failing to disclose to his member firms that he was engaged in outside business activities on an elderly firm client’s behalf. FINRA's findings stated that the client had named Luby as a […]

The Soreide Law Group, based in Florida (888) 760-6552, obtained the following summary from FINRA’s website, under “Disciplinary and Other FINRA Actions March 2015.” Michael Vincent Borja (CRD #5451360, Miami, Florida) was assessed a deferred fine of $5,000 and suspended by FINRA for 45 days for allegedly proceeding with wire transfer requests, from an imposter […]

Florida-based Soreide Law Group, (888) 760-6552, recently obtained the following summation of information found on FINRA's website under “Disciplinary and Other FINRA Actions March 2015.” Naveen K. Bhagwani (CRD #5423037, West Palm Beach, Florida) was barred by FINRA for alleged unauthorized trades in client’s non-discretionary accounts without the knowledge, authorization, or consent of the clients […]

The following is a portion of the article quoting Securities Lawyer, Lars K. Soreide of Soreide Law Group. The article was written by Andrew Welsch and appeared in onwallstreet on March 11,2015: "Ex-Advisor Racks Up $16M in Client Complaints One barred advisor. Fourteen client complaints. $16 million in alleged damages. Troubles are mounting for Enver […]

MATTHEW C. KATKE (CRD# 4679645) a 34 year-old former trader with Royal Bank of Scotland Group (RBS) Stamford, Connecticut, pleaded guilty in a Connecticut Federal Court to conspiracy to commit securities fraud for participating in a multi-million dollar securities fraud scheme. This was announced by the U.S. Attorney for Connecticut and the FBI. Katke is […]

Clearview Correspondent Services, LLC nka BB&T Securities, LLC (CRD #142785, Richmond, Virginia) was censured and fined $1,000,000 for allegedly failing to properly aggregate positions for accounts that were acting in concert under the common control of specific registered representatives/investment advisors within the firm. FINRA's findings stated that as a result, the firm failed to report […]