Author Archives: Staff
Florida Broker Suspended for One Year After Failing to Disclose Felony Grand Theft Charge
Cesar A. Barrios (CRD#: 6263225) is a previously registered securities broker. From May of 2015 to August of 2019, Mr. Barrios was a registered representative for PFS Investments. INC (CRD#: 10111/SEC#: 801-72263,8-2648). During his time at the firm, this broker was based at a Miami Lakes branch office. On January 15th 2021, former South… Read More »
SEC Starts New Year By Issuing Several Whistleblower Awards
On January 7th, 2021, the Securities and Exchange Commission (SEC) kicked off 2021 by issuing five new whistleblower cases. Three of the awards are related to a similar underlying case and the other two pertain to separate matters. The SEC’s whistleblower program is designed to incentivize securities insiders and other knowledgeable people to disclose… Read More »
South Florida FINRA Arbitration Panel Awards Investor $89,675 in Unsuitable Investment Claim
On December 22nd, 2020, a FINRA arbitration panel in Boca Raton, Florida awarded an investor $89,675 in compensatory damages (Case Number: 19-00522). The respondent in the claim was UBS Financial Services, Inc. (CRD#: 8174/SEC#: 801-7163,8-16267), a national brokerage firm with a main office in Weehawken, New Jersey. In this post, our Miami unsuitable investment… Read More »
South Florida Broker Fined, Suspended for Undisclosed OBAs and Private Securities Transactions
David Jin Kyu Chong (CRD#: 2679656) is a registered broker and investment adviser. Since March of 2019, Mr. Chong has served as a financial representative of Newbridge Securities Corporation in Boca Raton, Florida. Previously, he was associated with other broker-dealers, including Aurora Capital LLC, Holly Street Wealth Advisors, Wells Fargo Clearing Services, and Morgan… Read More »
Florida Broker Fined, Suspended By FINRA for Rule 2010 Violations
Angel Simpson (CRD#: 6488474) is a FINRA registered securities broker. From July of 2015 through July of 2019, Ms. Simpson was a representative of AXA Advisors in Orlando. Since the summer of 2019, she has been associated with GWN Securities Inc, also in Central Florida. On December 15th, 2020, Ms. Simpson was fined $5,000… Read More »
Unregistered Florida Investment Advisor Charged With Defrauding Municipality
On December 1st, 2020, the Securities and Exchange Commission (SEC) published a press release announcing investment fraud charges against Eugenio Garcia Jimenez, Jr., an unregistered financial advisor who was most recently based in Orlando, Florida. Federal officials allege that Mr. Garcia Jimenez Jr. knowingly defrauded the municipality of Mayagüez, Puerto Rico out of nearly… Read More »
SEC Charges Man With Securities Fraud, Allegedly Operated Boiler Room in Boca Raton, Florida
On December 1st, 2020, the Securities and Exchange Commission (SEC) announced securities fraud charges against Mark Alan Lisser of Massapequa, New York. During the relevant review period, Mr. Lisser was the owner and primary operator of an investment firm called Knightsbridge. He is accused of managing two boiler rooms—one in Long Island and one… Read More »
South Florida Financial Advisor Fined $10,000 and Suspended for 16 Months for Taking Improper Loans from Customers
Michael Kris Pina (CRD #5922058) was registered as a securities broker from September of 2013 to March of 2019. During that time, he worked at PFS Investments Inc. in Fort Lauderdale, Florida. In 2019, Mr. Pina was permitted to resign from the brokerage firm after allegedly taking improper loans from at least four different… Read More »
SEC Issues Litigation Update: Agency Obtains Judgment in Civil Case Against a Florida-Based Investment Adviser
On November 9th, 2020, the U.S. Securities and Exchange Commission (SEC) released a litigation update in its case against David C. Coggins, his Florida-based company Coral Gables Asset Management, and two other relief defendants. In August, the federal regulator filed civil charges in the United States District Court for the Southern District of Florida…. Read More »
Florida Broker Suspended for Improperly Exercising Discretion in Customer Account
Stephen Paul Florio (CRD #1186577) is a licensed securities broker and professional investment advisor. From May of 2009 to July of 2015, Mr. Florio worked at Morgan Stanley. Subsequently, he was a financial representative for Raymond James & Associates from 2015 to 2018. Now, Mr. Florio is employed by Cambridge Investment Research. At all… Read More »
