The following information is from FINRA’s website under “Disciplinary Actions, March, 2012:"   Dominick Amadeo Zavaglia Jr. (CRD #5500264, Registered Representative, Miami, Florida)   submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for six months. The fine must […]

The following information is from FINRA’s website under “Disciplinary Actions, March, 2012:"   Allan Anthony Scheer (CRD #2775825, Registered Principal, Melbourne, Florida)   submitted an Offer of Settlement in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for four months. The fine is to be paid upon […]

The following information is from FINRA’s website under “Disciplinary Actions, March, 2012:"   Sergio M. Ripamonti (CRD #2786045, Registered Representative, Sunny Isles Beach, 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, Ripamonti consented […]

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 […]

In a February 29, 2012, article from BrowardBulldog.org, Ann Henson Feltgen writes that a Broward County probate judge has nipped an alleged attempt to redirect a $3 million inheritance intended to care for four beloved show dogs following their owner’s death. Judge Mark Speiser threw out financial advisor Charles E. Bishop’s claim as inheritor of the estate […]

In an April 2nd., 2012, article on ThinkProgress.com, Travis Waldon writes that former Goldman Sachs trader Greg Smith publicly resigned three weeks ago, decrying the firm’s “toxic and destructive" culture in a scathing New York Times editorial. But it isn’t just traders at America’s biggest investment bank that view their clients as “muppets,” at least […]

The financial industry has been anticipating this time in history ever since the Baby Boom generation began. There are more people who will be turning more money over to stockbrokers than at any other time in history.  We have watched the abuse investors have taken. Take for example, the investors in Worldcom or Enron. They soon learned that things are […]

  In a recent New York times article, Greg Smith writes about his experience with Goldman Sachs as an executive director and head of the firm’s United States equity derivatives business in Europe, the Middle East and Africa. Here are some excerpts from his article that highlight Goldman Sachs intention to make money off their clients […]

In an article from InvestmentNews.com, we learn that enforcement actions and fines by the Financial Industry Regulatory Authority Inc., or Finra,  jumped sharply in 2011, with the latter rising to $68 million, from $45 million in 2010, a new study shows. Much of that surge came from penalties for improper advertising. Finra filed 1,488 disciplinary […]