Jeffrey Wayne Cimbal (CRD #2028791, Registered Principal, Parkland, Florida)  has been fined $20,000 and suspended from association with any FINRA member in any principal capacity for five months. Without admitting or denying the findings, Cimbal consented to the described sanctions and to the entry of findings that he served as his member firm’s CCO, and for […]

  Corey Lamar Battey (CRD #4123425, Registered Representative, Clermont, Florida) was fined $5,000 and has ben suspended from association with any FINRA member in any capacity for six months. This fine will be due and payable if and when Battey re-enters the securities industry. These sanctions were based on FINRA's findings that Battey failed to respond to […]

Soreide Law Group, PLLC, is currently investigating IMH Secured Loan Fund sold by broker Randy Albers for possible claims. IMH Financial Corporation is a real estate finance company operating in the southwest United States. The company, formerly known as IMH Secured Loan Fund, LLC, focuses on the acquisition and origination of mortgage loans, mezzanine loans, other debt […]

The Financial Industry Regulatory Authority Inc. (FINRA) has recently hired Robert Colby, a former high-ranking SEC official, as the regulator’s top lawyer. Mr. Colby is a partner in the Washington office of Davis Polk & Wardwell LLP, and will join FINRA on June 18th. as the new chief legal officer. Grant Callery, current Finra general counsel, […]

Soreide Law Group, PLLC,  has been contacted recently by several clients that have complained of a high level of trading activity by Vision Financial Markets.Vision Financial Markets, a futures commission merchant (FCM) and introducing broker (IB), is registered with the NFA. Vision Financial Markets  is a Futures Commission Merchant and Commodity Pool Operator with headquarters in […]

The Financial Industry Regulatory Authority (FINRA) published a news release on their website, May 22, 2012, announcing that it has fined Citigroup Global Markets, Inc. $3.5 million.  This fine was for 'providing inaccurate mortgage performance information, supervisory failures and other violations in connection with subprime residential mortgage-backed securitizations (RMBS).' FINRA notes in their article that the issuers of RMBS […]

Many of our clients ask about FINRA's BrokerCheck.  Located on FINRA's website, finra.org, BrokerCheck is defined by FINRA as "a free tool to help investors research the professional backgrounds of current and former FINRA-registered brokerage firms and brokers, as well as investment adviser firms and representatives. It should be the first resource investors turn to […]

As of today, Facebook (FB) shares have fallen roughly 18.4 percent from their $38 IPO price, within the first three days of trading, reducing the value of stock sold in the IPO by more than $2.9 billion. It was announced that Facebook, Inc., Facebook Chief Executive Officer Mark Zuckerberg, and the banks, including Morgan Stanley, are being sued by shareholders,  […]

In a May 21, 2012 article from the InvestmentNews.com website, Bruce Kelly writes that the SEC is looking at “several areas of high risk” in the securities industry. Some of the areas they are looking into  include broker-dealer due diligence, net capital levels at broker-dealers and “dark pools” of liquidity, said Julius Leiman-Carbia, associate director […]