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July 22, 2013
Morgan Keegan & Company Censured and Fined by FINRA over Fictitious SBA Loan Pool Trades

The following information was obtained on FINRA’s website under “Disciplinary and Other FINRA Actions, July, 2013,” by Soreide Law Group, a Securities Arbitration Law Firm, (888) 760-6552. Morgan Keegan & Company, Inc. (CRD #4161, Memphis, Tennessee) was censured and fined $60,000. Without admitting or denying the findings, the firm consented to the described sanctions and […]

July 22, 2013
Chicago Firm Censured and Fined $240K by FINRA for Trades During Market-Disrupting Events

The following information was obtained on FINRA’s website under “Disciplinary and Other FINRA Actions, July, 2013,” by Soreide Law Group, a Securities Arbitration Law Firm, (888) 760-6552. Citadel Securities LLC (CRD #116797, Chicago, Illinois) was censured, fined $215,000, ordered to pay $239,582.12, plus interest, in restitution to customers, and required to revise its WSPs regarding […]

June 25, 2013
Raymond James, St. Petersburg, FL, Fined and Censured by FINRA

The following information was obtained on FINRA’s website under “Disciplinary and Other FINRA Actions, June, 2013,” by Soreide Law Group, a Securities Arbitration Law Firm, (888) 760-6552. Raymond James & Associates, Inc. (CRD #705, St. Petersburg, Florida) was censured, fined $27,500 and required to revise its WSPs regarding compliance with NASD Rule 2440 and IM-2440. […]

June 19, 2013
Orlando Broker/Dealer Suspended by FINRA for Failure to Supervise

This information was obtained on FINRA’s website under “Disciplinary and Other FINRA Actions, June, 2013.” Michael Antonio Zurita (CRD #1659844, Registered Principal, Orlando, Florida) was suspended from association with any FINRA member in any principal capacity for six months. In light of Zurita’s financial status, no monetary sanction was imposed. Without admitting or denying the […]

May 9, 2013
Three Firms Fined $900,000 by FINRA

On May 8th., 2013, FINRA, the Financial Industry Regulatory Authority Inc. fined three financial companies $900,000 in total, for failing to stop money laundering and other suspicious transactions, and officials at the firms were fined a total of $100,000. “Today's actions reinforce FINRA's continued focus on firms' ability to identify and respond to potential misuse […]

April 12, 2013
Broker/Dealer Ordered by FINRA to Pay $11 Million in Restitution

The Financial Industry Regulatory Authority (FINRA) announced in December, 2012, that Pruco Securities, LLC, a New Jersey based registered broker-dealer, was ordered to pay nearly $11 million in restitution and $550,000 in fines for failing to process written mutual fund orders received by mail or fax, to have in place an adequate supervisory system designed […]

February 15, 2013
Bond Investors Get Warning From FINRA on Duration if Rates Should Rise

Finra warned investors that if the interest rates rise - as most pros expect - bond investors could be slammed by long duration, writes Dan Jamieson in a Feb. 14th., 2013 article for InvestmentNews.com FINRA, the Financial Industry Regulatory Authority Inc. in an investor alert, told investors that in the event of rising interest rates, […]

February 15, 2013
Did You Invest with Former LPL Broker, Alberto Neira?

Securities Lawyer, Lars Soreide of Soreide Law Group, PLLC, recently announced that he is investigating claims against Linsco Private Ledger (LPL Financial) for investors who have suffered losses by former LPL broker Alberto Neira. The clients of former LPL representative Alberto Neira were solicited to invest in the now defunct Silver Oak Leasing – a […]

February 14, 2013
FINRA Fines Broker $1.8mill in Sale of ETFs

Nicholas Rowe and his firm, Focus Capital Wealth Management, Inc. of Bedford, New Hampshire, were found liable in a case alleging negligence, civil fraud, and other misdeeds, involving the sale of risky ETFs (Exchange Traded Funds) to nine investors, according to a ruling by a Financial Industry Regulatory Authority (FINRA) arbitration panel. Some of these […]

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