The Financial Industry Regulatory Authority Inc. (FINRA) charged SWS Financial Services Inc. with violating the rules requiring firms to have supervisory systems and written procedures to supervise variable annuity transactions. Allegedly, SWS allowed several variable annuity applications with no principal review for suitability. FINRA alleges that this occurred from Sept. 2009 to May 2011. These […]

The Soreide Law Group, PLLC, is a Securities Arbitration Law Firm, (888) 760-6552. We recently obtained the following information on FINRA’s website under “Disciplinary and Other FINRA Actions, August, 2013.” Darrell Glynn Frazier (CRD #1663429, Registered Representative, Dublin, Ohio) was barred from association with any FINRA member in any capacity. Without admitting or denying the […]

The Soreide Law Group, PLLC, is a Securities Arbitration Law Firm, (888) 760-6552. We recently obtained the following information on FINRA’s website under “Disciplinary and Other FINRA Actions, August, 2013.” Darrell Glynn Frazier (CRD #1663429, Registered Representative, Dublin, Ohio) was barred from association with any FINRA member in any capacity. Without admitting or denying the […]

Donald Dean Horras CRD# 1056123 Soreide Law Group is investigating claims on behalf of investors who were clients of Ft. Lauderdale broker, Donald Horras, who was with Morgan Stanley Smith Barney, and according to FINRA's BrokerCheck, is currently with Raymond James and Associates of Ft. Lauderdale. Allegedly, Donald Horras, made unsuitable recommendations to elderly customers […]

Andrew James Aragona (CRD #1320844, Registered Representative, Deerfield Beach,Florida) was fined $138,500 and suspended from association with any FINRA member in any capacity for one year. These sanctions were based on findings that Aragona recommended unsuitable variable annuity switches to an elderly customer. The FINRA findings stated that Aragona failed to conduct an objective, quantitative […]

Raymond James Financial Services Inc., has paid a $1.79 million arbitration award to an 87-year-old client after going to state court to appeal the judgment writes Darla Mercado, in a November 30, 2011, article for the InvestmentNews.com. The Honorable Judge Emily Tobolowsky, of the 298th Judicial District Court in Dallas last month confirmed the award […]

WASHINGTON —It was announced on FINRA's website that The Financial Industry Regulatory Authority (FINRA) has suspended William Bailey, a former NEXT Financial Group, Inc. broker of Mesa, Arizona, from the securities industry for two years for unsuitable and excessive trading of mutual funds and variable annuities. Bailey also engaged in discretionary trading without receiving prior written […]

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Wedbush Securities and one of its former brokers to pay $2.9 million in damages and fees to an elderly investor who allegedly fell victim to a faulty investment scheme. The founder Edward Wedbush, and broker Debbie Michelle Saleh were ordered to pay $2,865,885 in damages. The […]