ATTENTION INVESTORS: FINRA Fines, Suspends Hillard Lyons Broker CHRISTOPHER BENNETT The Financial Industry Regulatory Authority (“FINRA”) suspended J.J.B. Hilliard, W.L. Lyons LLC broker Christopher Duke Bennett (CRD#: 2510231, Louisville, Kentucky) for exercising discretion in investment accounts without written authorization. Evidently, Bennett executed a Letter of Acceptance, Waiver and Consent (“AWC”) #2017054060301 on December 17, 2018, […]

Soreide Law Group has filed a FINA arbitration for their client against: LAIDLAW & COMPANY (UK) LTD. The Claimant, from Sammamish, Washington, received a cold call in April, 2015, from a broker who had just begun working with LAIDLAW & Company after leaving the now defunct Rockwell Global Capital. The lawsuit alleges that shortly after the […]

Florida-based Soreide Law Group, (888) 760-6552, recently obtained the following summation of information found on FINRA's website under “Disciplinary and Other FINRA Actions March 2015.” Naveen K. Bhagwani (CRD #5423037, West Palm Beach, Florida) was barred by FINRA for alleged unauthorized trades in client’s non-discretionary accounts without the knowledge, authorization, or consent of the clients […]

The following summation of information was obtained on FINRA’s website under “Disciplinary and Other FINRA Actions, January, 2014.” Irving Marvin Burstein (CRD #1218326, Registered Principal, Boynton Beach, Florida) was suspended for one year and required to cooperate with FINRA or any other regulator in investigations and hearings related to his member firm. Burstein was his […]

The SEC brought proceedings that arise out of a failure reasonably to supervise three registered representatives (the “Registered Representatives”) with a view to preventing and detecting their violations of federal securities laws by JP Turner. Between January 1, 2008 and December 31, 2009 (the “relevant period”), for the purpose of generating commission business, these registered […]

The Securities and Exchange Commission alleged three former brokers at JP Turner & Co. in Atlanta, traded excessively in accounts of seven clients from January, 2008, through December, 2009. Regulators reported that these three brokers churned their client's accounts and received $845,000 in commissions and fees for themselves and the brokerage. Unfortunately, their customers lost […]

Merrill Lynch has agreed this week to pay a $400,000 fine in a 'fund-churning' case brought by the Financial Industry Regulatory Authority Inc. (FINRA). Merrill will also pay $139,718 in restitution to the customers involved. Allegedly Merrill failed to supervise it's former broker David Bredenburg, who worked in the Towson, Md. office. FINRA claimed Merrill […]

JHS Capital Advisors Inc. and a former broker, Enver R. Alijaj, were fined $1.9 million in a Finra arbitration last week stemming from allegations that the broker traded in a client's account excessively to generate commissions. The broker was also forced to pay $500,000 to settle a previous charge of churning. Churning is illegal and unethical. On the […]