Miami Investment & Fraud Attorneys
305.372.9700
1 SE 3rd Ave # 1200
SunTrust International Center
Miami, Florida 33131

Recent Blog Posts

Litigation

Fort Lauderdale Broker Permanently Barred for Unsuitable Investment Recommendations, Unauthorized Trading

By Staff |

Recently, FINRA’s Department of Enforcement permanently barred Florida broker Scott Allen Sibley (CRD#: 1523981) from the securities industry. Mr. Sibley was accused of recommending unsuitable investments to at least 10 different clients and engaging in unauthorized trading on another client’s brokerage account. Without admitting or denying any of the allegations, Mr. Sibley consented to… Read More »

Legal2

Palm Beach Gardens Brokerage Firm Ordered to Pay $2.3 Million in Restitution

By Staff |

Legend Equities Corporation (CRD#: 30999), a brokerage firm headquartered in Palm Beach Gardens, Florida, has accepted and consented to sanctions that include public censure and financial restitution that is currently estimated at $2,300,188. Without admitting or denying any wrongdoing, the firm agreed to these penalties to settle FINRA Case #2016050259801. This claim stemmed from… Read More »

badinvestment

Ameriprise Financial Services Broker Barred for Failure to Disclose Private Transactions

By Staff |

On May 30th, 2017, a FINRA Hearing Panel issued a final decision in the case that has been brought against former Ameriprise Financial Services broker Jim Seol (CRD#: 2876279). After reviewing the allegations against this investment advisor, the hearing panel issued sanctions, permanently barring Mr. Seol from the securities industry for his failure to… Read More »

SecFraud

Florida Brokerage Firm Expelled for Selling Unregistered Securities, Providing False Documents

By Staff |

In 2015, Merrimac Corporate Securities, an Altamonte Springs, Florida-based brokerage firm, was permanently barred from the securities industry for misconduct. The firm, along with one of its principals, had filed an appeal on the decision. On May 26th, 2017, a final decision was reached. FINRA’s National Adjudicatory Council (NAC) affirmed the initial ruling (2011027666902),… Read More »

Morgan Stanley Financial Advisor Angel Aquino-Velez Has 11 Customer Complaints

By Chase Carlson |

Carlson & Associates currently represents a family that lost a substantial amount of money in Puerto Rican Bonds with Morgan Stanley and Angel Aquino-Velez. From 1997 to 2009, Aquino-Velez worked for several securities firms in Puerto Rico, including Doral Securities, UBS, and Merrill Lynch. In 2010, Aquino joined Morgan Stanley in Miami. Aquino has… Read More »

FinanSec

Miami Brokerage Firm Hit With $188,000 in Penalties for Overcharging Customers

By Staff |

In May, Ultralat Capital Markets, Inc. (CRD#: 136791), a broker-dealer based in Miami, Florida, settled allegations that it systematically overcharged several of its clients. Without admitting or denying any wrongdoing, Ultralat Capital Markets consented to the following penalties: Public censure; A $140,000 fine; and Disgorgement of ill-gotten gains totaling $48,055.84, plus interest. Full information… Read More »

Money

Boca Raton Brokerage Firm Fined $210,000, Ordered to Offer Affected Customers ‘Rescission’

By Staff |

Recently, FINRA’s Department of Market Regulation announced that FMSbonds, Inc. (CRD #7793), a broker-dealer based in Boca Raton, Florida, consented to findings that it improperly sold municipal bonds to its customers in amounts below the mandatory minimum denominations. As a result of this misconduct, many of the firm’s clients were stuck in disadvantaged, illiquid… Read More »

Invest3

Florida Financial Advisor Accused of Failing to Disclose Outside Business Activities

By Staff |

Erick J. Arnett (CRD#: 5007131), a registered investment advisor who was most recently employed at Taylor Capital Management Inc., a firm based in Spring Hill, Florida, has been accused of engaging in business activities outside the normal scope of his relationship with his member firm. This type of activity is a direct violation of… Read More »

InvFraud5

Florida Brokerage Firm Fined $225,000, Ordered to Pay More Than $500,000 in Restitution

By Staff |

Recently, the Financial Industry Regulatory Authority (FINRA) announced sanctions against Invest Financial Corporation (CRD#: 12984), a registered broker-dealer that is based in Tampa, Florida. According to investigators, Invest Financial Corporation failed to identify and apply a large number of sales charge waivers to eligible customers. Full information regarding this case can be found by… Read More »

Broker

Florida Investment Firm Censured and Fined $75,000 by FINRA

By Staff |

Have you ever invested your hard earned money with Dawson James Securities, Inc. (CRD#: 130645), a brokerage firm based out of Boca Raton, Florida? If so, you need to be aware of the recent disciplinary action that has been taken against the company. Earlier this year, the FINRA Department of Enforcement announced fines against… Read More »

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