Articles Posted in FINRA

The Securities and Exchange Commission (SEC) has fined multiple related securities firms for alleged whistleblower violations. The SEC initiated administrative and cease-and-desist proceedings against three financial entities: Nationwide Planning Associates, Inc. (“Nationwide”), NPA Asset Management, LLC (“NPA”), and Blue Point Strategic Wealth Management, LLC (“Blue Point”), collectively referred to as “Respondents”. In response to the…

A long-time investment advisor with Cantella & Co. based in Owensboro, Kentucky was recently suspended by FINRA for alleged wrongful conduct. Pursuant to FINRA Rule 9216, Gleason submitted a Letter of Acceptance, Waiver, and Consent (AWC) aimed at settling alleged violations and avoiding future repercussions from FINRA based on the same findings. Gleason’s career spanned…

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, 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…

The Financial Industry Regulatory Authority (FINRA) recently issued a disciplinary order against Christopher Booth Kennedy, a former registered representative with Western International Securities, for a series of egregious violations. The order which can be found here, stemming from a complaint filed by FINRA’s Department of Enforcement, outlines Kennedy’s misconduct between July 2020 and July 2021.…

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…