Author Archives: Staff
FINRA Sanctions South Florida Brokerage Firm For Rule 2121 Violation
Dawson James Securities, Inc. (CRD No. 130645) is a licensed FINRA broker-dealer headquartered in Boca Raton, Florida. Initially registered with the SEC in 2004, Dawson James Securities operates in 53 U.S. states in territories. On April 6th, 2021, FINRA announced the broker-dealer was being censured, fined $20,000, and ordered to pay $7,083.93 in financial… Read More »
Securities And Exchange Commission Awards More Than $500,000 To Whistleblower Under ‘Safe Harbor’ Law
On March 29th, 2021, the Securities and Exchange Commission (SEC) confirmed that the federal agency has awarded more than $500,000 to an individual who raised concerns internally before officially submitting a tip to the government. With the latest award, the agency has now granted nearly $800 billion to securities industry whistleblowers. Notably, this case… Read More »
Florida Brokerage Firm Censured, Fined for Failure to Implement Supervisory System to Regarding the Recommendation of Risky Alternative Mutual Funds
J.W. Cole Financial, Inc. (CRD No. 124583) is a national brokerage firm with main headquarters in Tampa, Florida. The broker-dealer is licensed to operate in 52 U.S. states and territories. In March of 2021, the Financial Industry Regulatory Authority (FINRA) announced a censure and fine against J.W. Cole Financial, Inc. Here, our Miami unsuitable… Read More »
NAC Decision Upholds FINRA’s Ban of Florida Financial Advisor Who Refuses to Cooperate Into Investigation of Multi-Million Fraud Allegations
On March 10th, 2021, the National Adjudicatory Council (NAC) upheld FINRA’s bar on a Florida financial advisor. In the Matter of Department of Enforcement v. Robert Juan Escobio, the NAC determined that former Southern Trust Securities broker Robert J. Escobio (CRD#: 703813) was not justified when he failed to provide documents and on-the-record testimony… Read More »
Florida Man One of Seven Individuals Charged By SEC in a $45 Million Fraud Scheme
On March 2nd, 2021, the Securities and Exchange Commission (SEC) announced investment fraud charges against seven individuals and one company. The federal regulatory agency alleges that the defendants were involved in a scheme to gain control over a company called Airborne Wireless Network, with the ultimate goal being the defrauding of investors. Notably, Moshe… Read More »
SEC Awards More than $12 Million in Three Separate Whistleblower Awards
In February of 2021, the Securities and Exchange Commission (SEC) officially announced three new whistleblower awards. Collectively, the federal regulator granted more than $12 million in compensation to the three individuals who helped stop securities fraud. Since the program was launched in 2012, the SEC has now approved more than $750 in whistleblower compensation…. Read More »
In a FINRA Family Affair, Billionaire Florida Grandmother Awarded Approximately $20 Million
On February 5th, 2021, a Financial Industry Regulatory Authority (FINRA) arbitration panel in Boca Raton, Florida awarded a wealthy Florida grandmother nearly $20 million in compensation in a broker misconduct claim (Case Number: 19-02053). Notably, the named respondents—both former representatives of the New York, New York-based brokerage firm J.P Morgan Securities LLC—are the grandsons… Read More »
SEC Charges Two Florida Residents as Part of a Massive Ponzi Scheme Case
On February 4th, 2021, the Securities and Exchange Commission (SEC) announced fraud charges in a massive Ponzi scheme case. The federal agency has charged three companies and three individuals as part of a $1.7 billion investment fraud action. Securities fraud charges were filed against: David Gentile of Clearwater, Florida; Jeffrey Lash of Naples, Florida;… Read More »
FINRA Sanctions Florida-Based Brokerage Firm for Failure to Supervise
Transamerica Financial Advisors, Inc. (CRD No. 16164/SEC#: 801-38618,8-33429) is a large brokerage firm headquartered in St. Petersburg, Florida. Founded in 1985, Transamerica Financial Advisors has licenses to operate in 53 U.S. states and American territories. According to FINRA the broker-dealer has 25 disclosure, including 19 regulatory events and three securities arbitrations. In December of… Read More »
SEC Litigation Update: Florida Director of Investments Charged in Scheme Targeted at Elderly Investors
Recently, the Securities and Exchange Commission (SEC) released a litigation update in DeAndre P. Sears and his company MASears LLC (the Picasso Group). The federal regulator alleges that Mr. Sears improperly sold more than $25 million in securities to more than 140 retails. The investors targeted by the scheme were disproportionately elderly. In this… Read More »
