Soreide Law Group is investigating possible investor claims against securities broker Mark Beloyan (also known as Mark Bedros Beloyan) [CRD: 1392748, Davie, FL]. Evidently, FINRA filed an enforcement or civil action against the securities broker, who worked for Tradespot Markets Inc. Allegedly, Beloyan engaged in unregistered securities transactions. Moreover, an investor complained about him. Here […]

Soreide Law Group is investigating possible investor claims against securities broker Joseph Giordano (also known as Joseph M. Giordano) [CRD: 2278341, Melville, NY]. Mainly, FINRA sanctioned the securities broker, who worked for Aegis Capital Corp. Allegedly, Giordano failed to supervise registered representatives. Here is a brief summary of FINRA’s allegations against Joseph Giordano. FINRA Sanctions […]

Radcliffe Robert Daly (CRD #4663605, Granger, Indiana) was assessed a deferred fine of $15,000 and suspended by FINRA for nine months for allegedly mismarking order tickets for solicited transactions as "unsolicited." FINRA's findings stated that Daly recommended a penny stock to many clients and continued to solicit purchases of the stock and marked the trades […]

Thomas Neil Charbonneau (CRD #44868, Arden Hills, Minnesota) was barred by FINRA for allegedly selling nearly 1.7 million shares of a speculative penny stock from his own accounts which generated $400,000. According to FINRA, Charbonneau solicited the purchase of the speculative penny stock to his clients without disclosing that he was selling the stock from […]

Chet Taylor, former general counsel for Feltl & Co., of Minneapolis, has sued Feltl & Co. for damaging his reputation through a public statement last month which Feltl had said without specifically naming Taylor, that its former attorney, had been replaced along with three others because of stock-trading infractions from 2008 to 2012. These infractions […]

WFG Investments Inc., of Texas, is facing a $650,000 “global fine” by the Financial Industry Regulatory Authority Inc. (FINRA) Last March WFG agreed to pay $200,000 over an alleged stock-fraud scheme. The reasons for the latest fine has not yet been revealed. "Global fines" are given when regulators are trying to settle long running or […]

Feltl & Co., based in Minneapolis, paid a $1 million fine for alleged supervisory failures, among other things, while overseeing penny stock, and it has now replaced several executives, including it's general counsel, chief compliance officer, head trader, and a branch manager. FINRA reported that Feltl also failed to comply with customer-suitability, disclosure, and record-keeping […]

On September 2, 2014, the Financial Industry Regulatory Authority (FINRA), fined Feltl & Company of Minneapolis $1 million for failing to properly supervise its penny-stock business between 2008 - 2012. FINRA reports that Feltl & Company failed to inform their clients ahead of certain penny-stock transactions about the suitability and risks. Also FINRA claims they […]

Polar Investment Counsel, Inc. (CRD #42847, Thief River Falls, Minnesota) was censured and fined $12,500, because the Written Supervisory Procedures (WSPs) of Polar Investment Counsel Inc., prohibited their registered representatives from recommending low-priced securities, such as penny stocks, to its customers. FINRA found that because penny-stock transactions at Polar Investment Counsel were unsolicited, it did […]