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 […]

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 […]

The following information is from FINRA’s website under “Disciplinary and Other FINRA Actions, February, 2013.” Richard Grant Cody (CRD #2794558, Registered Representative, Wall, New Jersey) was fined a total of $27,500 and suspended from association with any FINRA member in any capacity for one year. The United States Court of Appeals for the First Circuit […]

In an article, Feb. 7, 2013, in the New York Post, it was reported that (broker-dealer owner), Anastasios “Tommy” Belesis' firm, John Thomas Financial, is being investigated by the FBI, the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority Inc. (FINRA). Mr. Belesis has made many media appearances on cable business/financial shows. […]

Clifford Jagodzinski, formerly of Morgan Stanley Smith Barney LLC (MSSB), claims he was fired for blowing the whistle on one of the firm's newest wealth managers, Harvey Kadden. According to the complaint, filed in U.S. District Court in the Southern District of New York, Kadden “was flipping preferred securities in a manner that was generating […]

  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 […]

 Jeffrey Wayne Cimbal (CRD #2028791, Registered Principal, Parkland, Florida)  has been fined $20,000 and suspended from association with any FINRA member in any principal capacity for five months. Without admitting or denying the findings, Cimbal consented to the described sanctions and to the entry of findings that he served as his member firm’s CCO, and for […]

Soreide Law Group, PLLC, is currently investigating claims against Douglas A. Leone of Newport Coast Securities, Irvine, California.  Leone was previously, according to FINRA's Brokercheck,  located in New York. Currently, according to FINRA's Brokercheck, Leone has 3 pending customer disputes against him and has other cases that have been settled in arbitration.  The alleged charges against him that were settled […]