Great American Advisors, Inc. (CRD #36451, Cincinnati, Ohio) was censured and fined $100,000 by FINRA for failure to have adequate supervisory systems in place for the sale of variable annuities. FINRA's findings stated that because of this, two of Great American Advisors' independent contractor representatives recommended unsuitable variable annuity transactions for Great American Advisors clients. […]

Soreide Law Group, (888) 760-6552, based in Fort Lauderdale, Florida, recently obtained the following summary of information located on FINRA’s website, under “Disciplinary and Other FINRA Actions, July, 2014.” John Frederick Wolle (CRD #5479607, Riviera Beach, Florida) was barred by FINRA for allegedly falsifying and forging a client’s signature on an annuity application without the […]

The following summation is from information available on FINRA's Website under “Disciplinary and Other FINRA Actions, April, 2014.” Mark Raymond Talley (CRD #4969783, Registered Representative, Ft. Mitchell, Kentucky) was barred by FINRA for allegedly recommending to his customer that he should replace an existing variable annuity with a new variable annuity. FINRA's findings stated that […]

The Financial Industry Regulatory Authority (FINRA) filed a regulatory complaint against two former brokers from MetLife Securities Inc, (a unit of MetLife Inc). The brokers, Christopher Birli and Patrick Chapin, who both worked for MetLife in Williamsville, New York, until 2012, allegedly engaged in a seven-year scheme to inflate their commissions by having customers switch […]

The following information was obtained on FINRA’s website under “Disciplinary and Other FINRA Actions, August, 2013,” by Soreide Law Group, a Securities Arbitration Law Firm, (888) 760-6552. Elmer Wayne Bullis (CRD #1718482, Registered Representative, Richmond, Virginia) was fined $15,000 and suspended from association with any FINRA member in any capacity for three months. Without admitting […]

The following information was obtained on FINRA’s website under “Disciplinary and Other FINRA Actions, August, 2013,” by Soreide Law Group, a Securities Arbitration Law Firm, (888) 760-6552. Elmer Wayne Bullis (CRD #1718482, Registered Representative, Richmond, Virginia) was fined $15,000 and suspended from association with any FINRA member in any capacity for three months. Without admitting […]

WASHINGTON —It was announced July 20, 2011, on FINRA's website that The Financial Industry Regulatory Authority (FINRA) has suspended William Bailey, a former NEXT Financial Group, Inc. broker of Mesa, Arizona, from the securities industry for two years for unsuitable and excessive trading of mutual funds and variable annuities. Bailey also engaged in discretionary trading without […]