Soreide Law Group based in Pompano Beach, Florida, obtained the following information on former NEWBRIDGE SECURITIES CORPORATION of BOCA RATON, FL, broker:  DAVID HOWARD FAGENSON (CRD#: 1652012 ) The Financial Industry Regulatory Authority (FINRA) suspended Fagenson for eight-months from the securities industry. Without admitting or denying the findings, Fagenson consented to the sanction and to […]

On March 7, 2018, MARK KAPLAN CRD#: 1978048 was barred by the Financial Industry Regulatory Authority Inc. (FINRA) from acting as a broker or otherwise associating with a broker-dealer firm for allegedly churning the account of a 93-year-old retired clothing salesman who suffered from dementia. According to FINRA, Kaplan created $723,000 in trading losses in […]

Unfortunately, Soreide Law Group continues to see the egregious misconduct by licensed broker/dealers taking advantage of their elderly clients.  This incredibly shocking behavior appears often in FINRA’s monthly Disciplinary Report.  It is important to shed light on this misconduct and make elderly clients and their family members aware of broker elder abuse. It is essential […]

Soreide Law Group (888-760-6552) obtained the following information, available to all on FINRA website under, “Disciplinary and Other FINRA Actions January 2017.” Jeffrey Alan Hill (CRD #2204945, Bemidji, Minnesota) was fined $5,000, suspended by FINRA 15 months, and required to pay $45,000 in disgorgement of commissions received for allegedly initiating hundreds of trades for two […]

STANLEY C. NIEKRAS (CRD# 2417486) was named a respondent in a FINRA complaint alleging that he misrepresented to his elderly clients, a husband and wife both in their 90s and in declining physical and mental health, that he was entitled to more than $70,000 for purported estate and financial planning services. The complaint alleges that […]

The Financial Industry Regulatory Authority (FINRA) began a Securities Helpline for Seniors one year ago, and since then more than $1.25 million in reimbursements have gone back to the clients because the regulator raised the issues to the firms, according to Susan Axelrod, FINRA’s executive vice president of regulatory operations. “I have to commend firms that […]

The Financial Industry Regulatory Authority, also known as FINRA, has recently established a new hotline for older investors. The new toll-free Securities Helpline for Seniors is: 1-844-57-HELPS (1-844-574-3577) Within the past four weeks, approximately 350 calls have come in from seniors looking for more information about investment products. They are also able to report broker […]

The Financial Industry Regulatory Authority (FINRA) announced that Avenir Financial Group, a New York-based broker-dealer, its CEO Michael Clements, and registered representative Karim Ibrahim (aka Chris Allen) consented to an order halting further fraudulent sales of equity interests in the firm and promissory notes pending a hearing on fraud charges relating to the same offerings. […]

In a recent Wall Street Journal investigation, they analyzed records of approximately 550,000 stockbrokers, and identified 16 hot spots in the United States where troubled brokers tend to concentrate. The areas identified were clustered in these seven states: New York, New Jersey. Florida, Michigan, Arizona, Nevada, and California. The article sites in particular, Delray Beach, […]