Soreide Law Group, a Securities Arbitration Law Firm, (888) 760-6552, obtained the following information on FINRA’s website under “Disciplinary and Other FINRA Actions, July, 2013.” Alan Jay Davidofsky (CRD #1389312, Registered Representative, Delray Beach, Florida) was fined $11,741.78, plus interest, which represents disgorgement, and barred from association with any FINRA member in any capacity. The […]

The U.S. Securities and Exchange Commission (SEC), recently upheld a penalty which banned from the securities industry for life, Carl Birkelbach, now 72, the founder of now-defunct Chicago firm, Birkelbach Investment Securities Inc., for failing to supervise a broker who generated more than $1 million in commissions during 3-1/2 years in the early 2000s while […]

Soreide Law Group, a Securities Arbitration Law Firm, (888) 760-6552, obtained the following information on FINRA’s website under “Disciplinary and Other FINRA Actions, June, 2013.” Joseph Henry Johnson (CRD #1312422, Registered Principal, Sayville, New York) was fined $5,000 and suspended from association with any FINRA member in any capacity for 30 days. Without admitting or […]

Benjamin Chouchane, (CRD# 4590169) a former broker for LinkBrokers Derivatives Corp., a unit of London-based ICAP Plc (IAP), pleaded guilty to making millions of dollars by lying about the prices of securities bought and sold for clients as reported in a recent article in Bloomberg Businessweek. Chouchane was arrested in October along with Marek Leszczynski […]

The Securities and Exchange Commission (SEC) announced fraud charges against a New York-based brokerage firm and two brokers who allegedly used misleading sales tactics to steer investors toward risky investments in a purported clean energy company so the firm could earn lucrative commissions. The SEC alleges that Gregg Lorenzo, the founder of Charles Vista LLC, […]

The following information is from FINRA’s website under “Disciplinary and Other FINRA Actions, February, 2013.” Enver Rahman Alijaj (CRD #4943780, Registered Representative, New York, New York) was fined $7,500 and suspended from association with any FINRA member in any capacity for two months. Without admitting or denying FINRA's findings, Alijaj consented to the described sanctions […]

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  Alan Jay Davidofsky (CRD #1389312, Registered Representative, Delray Beach, Florida) has been fined by FINRA in the amount of $11,741.78, which represents disgorgement, and he has been barred from association with any FINRA member in any capacity. These sanctions were based on the findings that Davidofsky made unauthorized transactions in his customer’s account, controlled the customer’s […]

In a September 7, 2011 article in InvestmentNews.com, Bruce Kelly writes that the Financial Industry Regulatory Authority Inc. (FINRA), living up to its warnings of this year, said today that it has fined several firms for overcharging for postage and handling. The article states that in May, Finra chief executive Richard Ketchum warned an audience of brokerage […]