Florida-based Soreide Law Group, has obtained the following summation of information from FINRA's Website under "Disciplinary and Other Actions, December 2014." Anthony Arthur Grey (CRD #709788, Winter Park, Florida) was fined $30,000, suspended by FINRA for 18 months and is required to disgorge $15,750, plus pre-judgment interest, to FINRA. The National Adjudicatory Council (NAC) affirmed […]

The former brokerage, Howe Barnes Hoefer & Arnett of Chicago, which in 2010 was acquired by Raymond James Financial, Inc., was fined $200,000 by FINRA, the Financial Industry Regulatory Authority. The reason for the fine and censure was because of excessive markups of U.S. Treasury and agency STRIPS and zero-coupon municipal bonds. FINRA also allegedly […]

Fort Lauderdale-based Soreide Law Group, (888) 760-6552, obtained this summation of information from FINRA’s website listed under “Disciplinary and Other FINRA Actions, March, 2014.” Jeffrey Griffin Lane (CRD #1663977, Registered Principal, Darien, Connecticut) and Robert Marcus Lane Jr. (CRD #1411773, Registered Principal, North Palm Beach, Florida) FINRA has fined Jeffrey Lane $25,000, barred him from […]

Three New York brokers, Benjamin Chouchane, Marek Leszczynski, and Henry Condron, who all previously worked the cash desk at their Wall Street broker/dealer, had judgments entered against them on January 14, 2014, for overcharging clients $18.7 million. These brokers used hidden markups and markdowns, keeping secretly a portion of the profits from the trades. This […]

On June 26, 2013, FINRA, the Financial Industry Regulatory Authority Inc., fined a Miami investment firm over one million dollars for allegedly charging excessive mark-ups and mark-downs on bond sales. StateTrust Investments Inc. was fined $1.045 million and was ordered to pay $353,319 in restitution to customers for charging unfair prices in 563 corporate-bond transactions […]

The following information is from FINRA’s website under “Disciplinary Actions, April, 2012:” Stone & Youngberg LLC (CRD #795, San Francisco, California) submitted a Letter of  Acceptance, Waiver and Consent in which the firm was censured, fined $350,000 and ordered to pay $206,054.72, without interest, in restitution to customers. Without admitting or denying the findings, the […]

On the Financial Industry Regulatory Authority's website (FINRA) it was announced that it had fined Citi International Financial Services LLC, a subsidiary of Citigroup, Inc., $600,000 and ordered more than $648,000 in restitution and interest to more than 3,600 customers for charging excessive markups and markdowns on corporate and agency bond transactions, and for related supervisory violations. Executive […]

In an April 4th., 2012, article from InvestmentNews.com, Liz Skinner writes that brokerage firm David Lerner Associates Inc. was ordered to pay more than $3.7 million in fines and restitution for overcharging retail customers on sales of more than 1,500 municipal bonds and 1,700 collateralized-mortgage-obligation transactions. The Financial Industry Regulatory Authority Inc. (FINRA) hearing panel found the […]