On May 29th., 2012, the Securities and Exchange Commission (SEC) charged a Miami-based hedge fund adviser for deceiving investors about whether its executives had personally invested in a Latin America-focused hedge fund. According to the SEC’s investigation, they found that Quantek Asset Management LLC made misrepresentations about fund managers having “skin in the game” along with investors in the $1 […]

The following information is from FINRA's website under, "Disciplinary and Other FINRA Actions, May, 2012." Philip Christopher Crescimanno (CRD #4412658, Registered Representative, Land O’Lakes, Florida) submitted an Offer of Settlement in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the allegations, Crescimanno consented to the described […]

AXA Advisors, LLC, without admitting or denying the findings, prior to a regulatory hearing and without an adjudication of any issue, submitted a Letter of Acceptance, Waiver and Consent (“AWC”), to the Financial Industry Regulatory Authority (FINRA)which FINRA accepted.  AXA Advisors, LLC, Respondent (AWC 2009020149901, March 13, 2012).  AXA Advisors, LLC employs aproximately 5,800 registered representatives at […]

FLORIDA INVESTORS, KNOW YOUR RIGHTS! Do you know that all Florida investors have the right to bring claims against their brokers or financial advisors to the Financial Industry Regulatory Authority, also know  as FINRA?  Know your rights under the Florida Investment Protection Act 517.301.                     The following is from the: 2011 Florida Statutes   517.301 Fraudulent transactions; falsification […]

The following information is from FINRA’s website under “Disciplinary Actions, April, 2012:”   Glenn Loren Halpryn (CRD #1633028, Registered Principal, Aventura, Florida)  submitted a Letter of Acceptance, Waiver and Consent in which he was censured and fined $10,000.   Without admitting or denying the findings, Halpryn consented to the described sanctions and to the entry […]

The following information is from FINRA’s website under “Disciplinary Actions, April, 2012:”   James Landon Yarbrough (CRD #703889, Registered Representative, Clearwater, Florida) was barred from association with any FINRA member in any capacity. The Hearing Officer did not order restitution because FINRA’s Department of Enforcement represented that the customer has been made whole by the […]

The following information is from FINRA’s website under “Disciplinary Actions, April, 2012:”   Banc of America Investment Services, Inc. dba Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD #7691, New York, New York)  submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $55,000. The firm has already paid […]

The following information is from FINRA’s website under “Disciplinary Actions, April, 2012:” Success Trade Securities, Inc. (CRD #46027, Washington, DC) and Fuad Ahmed (CRD #2404244, Registered Principal, Washington, DC) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $100,000. Ahmed was fined $10,000, suspended from association with any […]

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 […]