The following information was obtained on FINRA’s website’s ‘Disciplinary Actions, February 2012.”   Neal Seth Smalbach (CRD #1459854, Registered Principal, Palm Harbor, Florida)   submitted an Offer of Settlement in which he was barred from association with any FINRA member in any capacity.   Without admitting or denying the allegations, Smalbach consented to the described […]

In a February 17th., 2012, article for InvestmentNews.com, Bruce Kelly writes that a broker formally affiliated with Morgan Stanley Smith Barney LLC, Berthel Fisher & Co. Financial Services Inc. and LPL Financial LLC was arrested in Oregon this month for allegedly stealing $584,000 from three investors. The now ex-broker, James Scott McKee, was charged Feb. 9 […]

In a February 14th., 2012, article in InvestmentNews.com, Bruce Kelly writes that LPL Financial, LLC, is on the hook for a $1.4 million arbitration awarded to an elderly couple who bought real estate deals. According to the attorney for the plaintiffs, the property investments relied on “tricks” to boost their yields before they collapsed. Heinrich […]

The following information was obtained on FINRA’s website’s ‘Disciplinary Actions, January 2012.”   Joseph James Sciarra Jr. (CRD #1576322, Registered Principal, Wellington, Florida)   was barred from association with any FINRA member in any capacity and ordered to pay $393,935, plus interest, in restitution to a customer’s estate. The sanctions were based on findings that […]

The following information was obtained on FINRA’s website’s ‘Disciplinary Actions, January 2012.”   Jan D. Narrine (CRD #5738183, Associated Person, Winter Garden, Florida)   submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity.   Without admitting or denying the findings, Narrine consented […]

The following information was found on FINRA's website's "Disciplinary Actions, January 2012."   Richard Paul Counts (CRD #3241105, Registered Representative, Belleair, Florida)   submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with ny FINRA member in any capacity. Without admitting or denying the findings, Counts consented to the […]

In a January 24th., 2012 article for InvestmentNews.com, Bruce Kelly writes that it's more bad news for Behringer Harvard Holdings LLC, as an investor who saw the value of her real estate fund drop to $2,000, from an original investment of $50,000, has begun to complain to regulators. On January 20th., 2012, D. Gayle Salyer wrote […]

Evan Taber (CRD #1892751, Registered Representative, Plantation, Florida)   was barred from association with any FINRA member in any capacity.   This sanction was based on findings that Taber intentionally converted or misappropriated customer funds. These findings stated that Taber discussed with a customer an investment that would yield a 15 percent rate of return […]

Timothy Michael McGinn (CRD #813935, Registered Principal, Schenectady, New York) and David Lee Smith (CRD #427284, Registered Principal, Saratoga Springs, New York) were barred from association with any FINRA member in any capacity. The sanctions were based on findings that Smith misused investor funds when he sold approximately $89 million in income notes issued by […]