Dalas Lee Gundersen (CRD #3107187, Arbuckle, California) was assessed a deferred fine of $5,000, suspended by FINRA for 10 business days and ordered to pay $2,837, plus interest, in disgorgement of commissions received for allegedly making unsuitable recommendation to clients, in light of their financial condition and the excessively concentrated nature of the investment, by […]

OneAmerica Securities, Inc. (CRD #4173, Indianapolis, Indiana) was censured and fined $75,000 for allegedly failing to make reasonable inquiries or follow-ups on multiple red flags that indicated a registered representative associated with OneAmerica Securities was making unsuitable options recommendations and causing an improper and/or unauthorized transfer of funds to a third party. FINRA's findings stated […]

The Soreide Law Group has obtained the following summary of information from FINRA’s website, “Disciplinary and Other FINRA Actions, January, 2015.” James Mark McLaughlin (CRD #1925099, Westover, Alabama) was barred by FINRA for allegedly excessively trading in clients’ accounts. FINRA's findings stated that McLaughlin recommended unsuitable short-term trading of A-share mutual funds in clients’ accounts, […]

FINRA has ordered Fifth Third Securities and one of its registered reps, Mark Vernon Rottler (CRD# 2369550), to pay a client for allegedly making unsuitable investments which cost the client over $125,000. Allegedly, Rottler made unsuitable recommendations of mutual funds, structured products, and equities. The client opened an account with Fifth Third Securities in 2002, […]

Jodie Linn Miller (CRD #4772684, St. Petersburg, Florida) was assessed a deferred fine of $53,225, including disgorgement of $38,225, plus interest, and suspended by FINRA 18 months. Miller allegedly participated in private sales of $764,500 worth of a company’s securities for which she earned commissions of approximately $38,225 without notifying either of her member firms […]

Douglas Walter Campbell Jr. (CRD #2462754, New Canaan, Connecticut) was fined $5,000 and it was deferred, and suspended by FINRA for 20 business days for allegedly engaging in unsuitable trading in a customer’s account by recommending purchases of speculative investments, which were not consistent with the customer’s investment objectives, resulting in an overconcentration in the […]

The Fort Lauderdale-based Soreide Law Group obtained the summary of information from FINRA's Website under "Disciplinary and Other Actions, November 2014." NSM Securities, Inc. (CRD #134357, West Palm Beach, Florida) and Niyukt Raghu Bhasin (CRD #2282048, Wellington, Florida) NSM Securities was expelled from FINRA membership and Bhasin the founder, owner, President and Chief Executive Officer […]

A Financial Industry Regulatory Authority (FINRA) arbitration panel recently awarded a former client of Commonwealth Financial Network of Waltham, Massachusetts, $580,000. According to the FINRA report, the client had claimed his Commonwealth advisor, who was not named in the filing, breached his fiduciary duty. The advisor allegedly recommended to his client to retire early and […]

Alan J. Becker (CRD #4870553, Bedford, New Hampshire) was assessed a deferred fine of $46,045, including the disgorgement of commissions received for $36,045, and was suspended by FINRA for 18 months for allegedly making unsuitable recommendations to six clients in the sales of variable universal life policies (VULs) based on their financial situations. FINRA's findings […]