Articles Posted in Disciplinary Actions

In June of 2024 Scott Greco represented a client who received a FINRA arbitration award of her full damages, interest, and attorney’s fees against Interactive Brokers regarding an unauthorized money transfer from the client’s account. The case involved the unauthorized access of the Virginia customer’s online account by criminals who transferred funds without the customer’s…

FINRA recently issued a Letter of Acceptance, Waiver, and Consent (AWC) against financial advisor Andrew J. Egber which results in his bar from the industry by FINRA. According to FINRA’s Brokercheck report, Mr. Egber had previous offices in Rockville and Bethesda, Maryland and was previously registered to sell securities with Wells Fargo Clearing Services, Raymond…

The Financial Industry Regulatory Authority (FINRA) recently barred a financial advisor from Alexandria, Virginia who had been registered with Wells Fargo Clearing Services LLC. According to the FINRA AWC (Letter of Acceptance, Waiver, and Consent), FINRA began an investigation into whether Paul Trimber “converted a senior customer’s funds for his personal use and benefit…” Mr.…

FINRA has reported on the Brokercheck report for former advisor Shane Wilhelm that he has been permanently barred from registration with a FINRA Broker-Dealer. The Report states that Mr. Wilhelm was previously registered with Fortune Financial Services and Truist Investment Services, and that he previously had offices in Roanoke, Virginia, Moneta, Virginia, and Lynchburg, Virginia.…

FINRA, a regulator of the securities industry, recently barred North Carolina broker Christina Peterman after she failed to respond to a FINRA request for information and documents. The Letter of Acceptance, Waiver, and Consent states that the investigation related to a filing by her Broker-Dealer firm, Truist Investment Services, Inc. stating that she had been…

The Financial Industry Regulatory Authority (FINRA) has issued a Letter of Acceptance, Waiver, and Consent (AWC) against LPL Financial LLC, a notable member firm in the securities industry. The AWC alleges a series of alleged rule violations that occurred over several years, painting a picture of insufficient supervision and inaccurate information dissemination to customers. Let’s…

Lickhai Quach, a Silver Spring, Maryland broker/agent of Transamerica Financial Advisors, Inc., was recently barred by FINRA from association with any FINRA firm. The FINRA Letter of Acceptance, Waiver, and Consent states that Mr. Quach refused to produce documents or information to investigators as required by FINRA Rule 8210. Mr. Quach was allegedly under investigation…

Miche Jean was a registered securities salesperson with Morgan Stanley in Rockville, Maryland since 2015. However, on November 12, 2020, Morgan Stanley submitted a Termination Notice (Form U5), indicating that they terminated Jean’s employment due to concerns related to his trading strategy for certain clients, potential unauthorized discretion in specific accounts, and incomplete and delayed…

The Securities and Exchange Commission (SEC) has taken significant action against Bruderman Asset Management, now known as Gary Goldberg Planning Services, LLC (BAM), and its founder, Matthew J. Bruderman. The SEC has instituted public administrative and cease-and-desist proceedings against these entities, with a final Order found here, citing violations of the Investment Advisers Act of…

On July 25, 2023, the Financial Industry Regulatory Authority (FINRA) issued a Letter of Acceptance, Waiver, and Consent (AWC) against LPL Financial LLC, a prominent independent securities broker headquartered in Fort Mill, South Carolina. This disciplinary action followed a series of egregious violations that involved the conversion/theft of approximately $2.4 million of customer funds by…