The following information appeared on FINRA’s website under “Disciplinary and Other FINRA Actions, June, 2013.” Robert Ronald Liggero (CRD #4623608, Registered Representative, Atlantic Beach, 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 20 business days. Without […]

BLAKE BANCROFT RICHARDS (CRD #4051402) Blake Richards of Buford, Georgia, was charged by the Securities and Exchange Commission (SEC) with violations of the federal securities laws for misappropriating investor funds. In May, the SEC filed an emergency action seeking a temporary restraining order and other emergency relief in federal court against Richards. The SEC’s complaint […]

With mounting pressure from regulators, broker/dealers are making changes to how they sell alternative investments. VSR Financial Services Inc., Berthel Fisher & Co. Financial Services Inc. and the Cetera Financial Group Inc., which has four independent-contractor broker-dealers under its umbrella, this year have revised policies or added new guidelines and procedures for the sale of […]

FINRA, the Financial Industry Regulatory Authority Inc., is alerting broker-dealers to a number of shortcomings in how they communicate with investors about non-traded real estate investment trusts (REITs). According to FINRA, broker-dealers are falling short in a some areas, including distributing materials that contain misleading and inaccurate statements about the potentials of investing in illiquid […]

The Soreide Law Group, PLLC, a Securities Arbitration Law Firm, (888) 760-6552, found the following information on FINRA’s website under “Disciplinary and Other FINRA Actions, April, 2013.” Arthur Apostol (CRD #2265647, Registered Representative, Ashford, Connecticut) was fined $5,000 and suspended from association with any FINRA member in any capacity for three months. Without admitting or […]

Soreide Law Group- Securities Arbitration Law Firm - (888) 760-6552 stated in a blog from this website dated March 13th., 2013, LPL Financial, LLC, is now the nation’s fourth-largest brokerage firm — after Wells Fargo, Morgan Stanley and Merrill Lynch — and the largest in much of rural America. LPL’s explosive growth has brought the […]

According to a recent article in the New York Times, LPL Financial, has 13,300 brokers, 6,500 offices, 4.3 million customers — and a growing list of problems with regulators. LPL is now the nation’s fourth-largest brokerage firm — after Wells Fargo, Morgan Stanley and Merrill Lynch — and the largest in much of rural America--its […]

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 […]

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 […]