Soreide Law Group obtained the following information on FINRA’s website under, “Disciplinary and Other FINRA Actions, December 2016.” Robert James Batchen (CRD #2106288, Wheeling, Illinois) was assessed a deferred fine of $15,000, and suspended by FINRA for five months for allegedly effecting discretionary trades in a client’s accounts. FINRA’s findings stated that although the client […]

VelocityShares 3x Long Crude Oil ETN (UWTI) 52 Week Range:  11.70 - 140.90 In June of 2009, the Financial Industry Regulatory Authority (FINRA) released FINRA Notice to Members 09-31 concerning Non-Traditional ETFs. The Notice states that, “inverse and leveraged ETFs that are reset daily are typically unsuitable for retail investors who plan to hold them […]

Citigroup Global Markets Inc. (CRD #7059, New York, New York) was censured and fined $3,000,000, to be paid jointly to FINRA and the New York Stock Exchange (NYSE) for allegedly failing to deliver prospectuses in connection with sales of certain ETFs (Exchange Traded Funds) to customers. FINRA's findings stated that Citigroup Global Markets failed to […]

NOAH L. MYERS (CRD# 2387620) a former investment advisor from Lyme, Connecticut, was sentenced to prison for 40 months. Myers pled guilty to engaging in fraudulent trade allocations involving “cherry picking.” Myers "picked" good investments for himself and left his clients with the bad ones, according to the SEC. Noah L. Myers the former owner […]

The Fort Lauderdale-based Soreide Law Group has obtained the following summation of information from FINRA's Website under "Disciplinary and Other Actions, November 2014." Herbert Leonard Kaye (CRD #265572, Delray Beach, Florida) was assessed a deferred fine of $25,000, which includes disgorgement of $11,000 of commissions and was suspended by FINRA for four months for allegedly […]

The Fort Lauderdale-based Soreide Law Group, phone (888) 760-6552, obtained the following summation of information from FINRA’s website, under “Disciplinary and Other FINRA Actions, May, 2014.” Jon Fred Larson (CRD #861915, Lakeland, Florida) was assessed a deferred fine of $5,000 and suspended by FINRA for 10 business days. According to FINRA's findings, allegedly Larson entered […]

The following summary of information is available on FINRA's Website under “Disciplinary and Other FINRA Actions, May, 2014.” Investors Capital Corp. (CRD #30613, Lynnfield, Massachusetts) was censured and fined $100,000 by FINRA. According to the FINRA report, allegedly Investors Capital Corp. failed to give exchange-traded fund (ETF) prospectuses to their customers. (The definition in finance […]

On February 24th., 2014, the Financial Industry Regulatory Authority, also known as FINRA announced that it fined Berthel Fisher & Company Financial Services, Inc. and its affiliate, Securities Management & Research, Inc., of Marion, Iowa. The fine totaled $775,000 for supervisory deficiencies. This fine included Berthel Fisher's failure to supervise the non-traded real estate investment […]

On December 5th., 2013, the Financial Industry Regulatory Authority (FINRA) ordered Atlanta-based broker-dealer J.P. Turner & Company, L.L.C. to pay $707,559 in restitution to 84 customers for sales of unsuitable leveraged and inverse exchange-traded funds (ETFs) and for excessive mutual fund switches. Investors should be made aware by their brokers that they could possibly suffer […]