The Financial Industry Regulatory Authority (FINRA) has fined StateTrust Investments Inc., Miami, FL, over $1 million and firm’s broker, Jose Luis Turnes, was fined $75,000 and suspended for six months as a result of a FINRA investigation into the company exaggerating the markups and markdowns on corporate bonds and in 85 instances, the company misled […]

This information was obtained on FINRA’s website under “Disciplinary and Other FINRA Actions, June, 2013.” Michael Antonio Zurita (CRD #1659844, Registered Principal, Orlando, Florida) was suspended from association with any FINRA member in any principal capacity for six months. In light of Zurita’s financial status, no monetary sanction was imposed. Without admitting or denying the […]

The following information appeared on FINRA’s website under “Disciplinary and Other FINRA Actions, May, 2013.” Ronald Wayne Lankford (CRD #1751588, Registered Principal, Tampa, Florida) was suspended from association with any FINRA member firm in any principal capacity other than as a FINOP (Series 27) and Introducing Broker-Dealer/FINOP (Series 28) for 18 months; suspended from association […]

The following information appeared on FINRA’s website under “Disciplinary and Other FINRA Actions, May, 2013.” vFinance Investments, Inc. (CRD #44962, Boca Raton, Florida) consented to the described sanctions and to the entry of findings that it acted as the private placement agent for a placement of up to $5 million in convertible notes a company […]

Finra warned investors that if the interest rates rise - as most pros expect - bond investors could be slammed by long duration, writes Dan Jamieson in a Feb. 14th., 2013 article for InvestmentNews.com FINRA, the Financial Industry Regulatory Authority Inc. in an investor alert, told investors that in the event of rising interest rates, […]

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 […]

Nicholas Rowe and his firm, Focus Capital Wealth Management, Inc. of Bedford, New Hampshire, were found liable in a case alleging negligence, civil fraud, and other misdeeds, involving the sale of risky ETFs (Exchange Traded Funds) to nine investors, according to a ruling by a Financial Industry Regulatory Authority (FINRA) arbitration panel. Some of these […]

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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 […]