Patrick Alan Deramus (CRD #1718409, Registered Principal, Tampa, 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. Without admitting or denying the findings, Deramus consented to the described sanctions and to the entry of findings […]

Robert Nunes Da Frota (CRD #2137208, Registered Representative, Fort Myers, Florida) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $10,000, suspended from association with any FINRA member in any capacity for six months and ordered to make full repayment of the outstanding balance on a customer’s loan. Without admitting or […]

Clifford Jagodzinski, formerly of Morgan Stanley Smith Barney LLC (MSSB), claims he was fired for blowing the whistle on one of the firm's newest wealth managers, Harvey Kadden. According to the complaint, filed in U.S. District Court in the Southern District of New York, Kadden “was flipping preferred securities in a manner that was generating […]

The following appeared on FINRA's website under, "“Disciplinary and Other FINRA Actions, September, 2012.” Andrew Glen Rosenberg (CRD #2944124, Registered Principal, Weston, Florida) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $10,000 and suspended from association with any FINRA member in any capacity for three months. Without admitting or denying […]

Soreide Law Group is currently investigating Alpine Total Dynamic Dividend Fund (AOD). There were nearly 220 million shares sold to the public with a Closed-End Fund trading 31.45% above its Net Asset Value. It may soon be no longer one of the more favored of the Alpine funds. Alpine has recently disclosed that they have […]

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 […]

On September 9th, 2012, at the annual meeting of the North American Securities Administrators Association Inc. (NASAA) in Coronado, California, the top five types of violations in some areas of supervision at broker-dealers were: failure to follow written supervisory policies, suitability, correspondence/e-mail, maintenance of customer account information and internal audits, according to the results of […]

The Soreide Law Group is currently investigating claims on behalf of Kovack Securities clients who invested in options with Whitney Thatcher in the firm's Henderson, Nevada office. If you have suffered substantial losses due to Mr. Thatcher’s options recommendations, you may have a claim for recovery. Give us a call to discuss your potential claim. […]

Raymond James, FINRA ID # 11-03503 (Bradenton, FL, 8/21/2012) A split FINRA arbitration panel awarded $985,700, including triple damages, to an elderly customer on his misappropriation claim. This award against Paul David Arnold, and Raymond James and Associates, Inc., of Bradenton, Florida, involved the purchasing of an annuity, electronic transfers and conversion of funds of […]