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 […]

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 […]

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Last week LPL Financial Holdings agreed to pay $2.5 million in fines and restitution for improperly supervising brokers who sold non-traded real estate investment trusts. (Please note that LPL neither admitted nor denied wrongdoing.) These non-traded REITs are high-yielding and very popular. These non-traded REITs have jumped about 50% since 2009, to $65 billion. They […]

In an article, Feb. 7, 2013, in the New York Post, it was reported that (broker-dealer owner), Anastasios “Tommy” Belesis' firm, John Thomas Financial, is being investigated by the FBI, the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority Inc. (FINRA). Mr. Belesis has made many media appearances on cable business/financial shows. […]

On Feb. 6th., 2013, LPL Financial, LLC, was ordered by Massachusetts Security Division to pay restitution of more than $2 million to investors who bought shares of nontraded real estate investment trusts (REITs) and a $500,000 administrative fine, which involved investors who bought shares of several different nontraded REITs in violation of state limitations, and […]

The Securities and Exchange Commission (SEC) today, January 29th., 2013, on it's website announced that it has charged a former managing director of Jefferies & Co., Inc. (Jefferies), a New York-based broker-dealer, with making misrepresentations and engaging in misleading conduct while he sold mortgage-backed securities (MBS) in the wake of the financial crisis. The SEC […]

The following information is from FINRA’s website under “Disciplinary and Other FINRA Actions, January, 2013.” Alison Marie Janke (CRD #4409155, Registered Representative, Port Richey, Florida) was fined $11,600, which includes the disgorgement of financial benefit received of $6,600, and suspended from association with any FINRA member in any capacity for three months. Without admitting or […]

The following information is from FINRA’s website under “Disciplinary and Other FINRA Actions, January, 2013.” Charles Tuttle Mason aka Chip Mason (CRD #2206257, Registered Principal, St. Pete Beach, Florida) and Darren Duane Gibson (CRD #2311950, Registered Representative,Oceanside, California) were each fined $5,000 and suspended from association with any FINRA member in any capacity for three […]