Author Archives: Jay Butchko
Florida Broker Fined and Suspended for Selling Away From Member Firm
Jason Nicholas Dukas (CRD #4188239) is a registered broker and investment adviser in Florida. From August of 2011 to July of 2017, Mr. Dukas was employed by Wells Fargo Clearing Services. Since August of 2017, he has been a representative of Stifel, Nicholas & Company Incorporated. In May of this year, FINRA fined this… Read More »
Florida Broker Suspended for Forging Client Signatures/Initial to Transfer Funds
Jennifer Lillian Basey (CRD#: 4730054) is a licensed securities broker and registered investment advisor (RIA). From January 2004 to December 2019, Ms. Basey served as a representative for Edward Jones (CRD#: 250) in Fort Myers, Florida. In December, she separated from the brokerage firm after allegations involving unauthorized client signatures. Regulators launched their own… Read More »
FINRA Complaint: Miami-Dade County Broker Improperly Engaged in Improper Outside Business Activities (OBAs)
Robert Henderson (CRD#: 1160413) is a previously registered securities broker. From December of 2010 to November of 2019, Mr. Henderson was a representative of IFS Securities, where he was based out of a branch office in Miami Lakes, Florida. Previously, this financial advisor was also associated with First American Capital and Trading Corp. and… Read More »
FINRA Settlement: Two Florida Financial Advisors Barred for Churning the Account of an Elderly Investor
On October 21st, 2019, the Financial Industry Regulatory Authority (FINRA) announced a settlement with two former securities brokers (Disciplinary Proceeding No. 2016049321302). Ami Kathryn Forte (CRD No. 2457536) and Charles Joseph Lawrence (CRD No. 3131566) have both been barred from the securities industry for their role in churning the brokerage account of an impaired… Read More »
SEC: Florida Investor Lost $9.5 Million in $100 Million Investment Fraud Scheme
On August 27th, 2019, the Securities and Exchange Commission (SEC) announced investment fraud charges against Brenda Smith and her fund Broad Reach Capital, LP. Among other things, the SEC’s complaint alleges that Ms. Smith — who took in more than $105 million from investors — was doing little more than operating a Ponzi scheme. … Read More »
SEC sues Tallahassee-based Advisers for defrauding retired NFL Players
On August 29, 2019, the Securities and Exchange Commission sued Cambridge Capital Group Advisors and two of its principals alleging they defrauded retired NFL players who suffered brain injuries and were part of the concussion class action litigation against the NFL. The SEC alleges that Cambridge Capital Group Advisors, its president Phillip Timothy Howard,… Read More »
Summit Brokerage Services Censured, Fined $40,000 for Failure to Supervise
Summit Brokerage Services (CRD No. 34643) is a Boca Raton, FL-based broker-dealer that is licensed to sell securities in 51 U.S. states and territories. According to records obtained through FINRA’s BrokerCheck tool, this firm has 21 total disclosures on its records, including 16 regulatory actions and 5 FINRA arbitration awards. On August 15th, 2019,… Read More »
Miami, FL FINRA Arbitration Panel Awards Two Investors More than $3 Million in Compensation
On July 16th, 2019, a FINRA Arbitration Panel based in Miami, Florida issued a decision in favor of a pair of investors in a dispute filed against Morgan Stanley Smith Barney, LLC (Case Number: 17-01908). In total, the panel awarded the investors nearly $3.3 million — much of it because it found that the… Read More »
Florida Brokerage Firm Sanctioned By FINRA for Failure to Supervise, Churning
Summit Brokerage Services (CRD#: 34643/SEC#: 8-46310) is a brokerage firm that is regulated by the Financial Industry Regulatory Authority (FINRA). With headquarters in Boca Raton, FL, Summit Brokerage has been in the securities industry since 1993 and it is licensed to operate in 51 U.S. states and American territories. On July 2nd, Summit Brokerage… Read More »
South Florida Financial Advisor Faces Investor Complaint for Breach of Fiduciary Duty, Negligence
Peter Lewis Goffin (CRD#: 1617710) is an actively registered broker and investment advisor. Since October of 2003, this financial advisor has been an associate of Newbridge Securities — based out of a branch office in Boca Raton, FL. Records from the Financial Industry Regulatory Authority (FINRA) indicate that Mr. Goffin holds securities licenses in… Read More »
