Soreide Law Group, PLLC, is currently investigating the sale of promissory notes to investors by their brokerages.  Again, many conservative investors have said they were sold these notes as "low risk" when in fact, they were highly risky or fraudulent.  These investments also paid significantly higher fees to the brokers, making them much more motivated […]

This past Tuesday, May 1st., FINRA, the Financial Industry Regulatory Authority, Inc. fined four major brokerages $9.1 million for selling complex ETFs (Exchange Traded Funds) to investors whose portfolios were otherwise conservative.  Without admitting or denying the charges, the brokerges will be paying $7.3 million in fines, and $1.8 million in restitution to the clients who […]

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:”   James Calvin Wylie Jr. (CRD #834405, Registered Representative, Ponte Vedra 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 one month. Without admitting […]

The following information is from FINRA’s website under “Disciplinary Actions, April, 2012:”   William Edward Herlihy (CRD #4005879, Registered Principal, Deltona, Florida)  submitted a Letter of Acceptance, Waiver and Consent in which he was fined $50,000 and suspended from association with any FINRA member in any capacity for six months. The fine must be paid […]

The following information is from FINRA’s website under “Disciplinary Actions, April, 2012:” Stone & Youngberg LLC (CRD #795, San Francisco, California) submitted a Letter of  Acceptance, Waiver and Consent in which the firm was censured, fined $350,000 and ordered to pay $206,054.72, without interest, in restitution to customers. Without admitting or denying the findings, the […]

 The following information is from FINRA’s website under “Disciplinary Actions, April, 2012:” E*Trade Capital Markets LLC (CRD #111528, Chicago, Illinois)  submitted a Letter of  Acceptance, Waiver and Consent in which the firm was censured, fined $45,000, required to pay $812.13, plus interest, in restitution to customers and to revise its WSPs regarding trade reporting. Without […]

The following information is from FINRA's website under "Disciplinary Actions, March, 2012:   Spartan Securities Group, LTD (CRD #104478, Clearwater, Florida)   submitted a Letterof Acceptance, Waiver and Consent in which the firm was censured, fined $52,500 and required to revise its WSPs regarding its supervisory system, procedures and qualifications;order handling; best execution; anti-intimidation/coordination; trade […]