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 […]

  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 […]

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 […]

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 […]

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. […]

  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 […]

Two men from Houston, Texas, have been sentenced to spend more than 45 years in prison for their role in a massive life settlements fraud scheme writes Darla Mercado in an October 7, 2011, article in InvestmentNews.com. Christian Allmendinger, the co-founder and vice president of A&O Resource Management Ltd., and Adley H. Abdulwahab, a hedge fund […]

  Gary Harrison Lane has been accused of improprieties in his client's accounts. These accusations relate to the sale of government debt and or notes. Our investigation revealed that Gary Lane may have been involved in the sale of what could ultimately prove to be a ponzi scheme.   If the investigation later proves that Gary […]

Recently warnings from the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) siting the dangers of leverged ETFs and inverse ETFs (exchange-traded funds). These funds are extremely complex products that carry a great deal of risk. Soreide Law Group, PLLC, has launched an investigation into these funds. It is noted that ETFs are […]