Recent Blog Posts
South Florida Financial Advisor Suspended for Improperly Borrowing Money from an Elderly Investor
Linda Sue Zara (CRD#: 2322009) is a previously licensed securities broker and registered investment advisor. From August of 2012 to January of 2018, Ms. Zara was employed at Wells Fargo Clearing Services in Boca Raton, Florida. Prior to her time there, she was also associated with several other broker-dealers in the region, including Citigroup… Read More »
Miami, Florida FINRA Arbitration Panel Holds Broker and Brokerage Firm Liable in REIT Claim
On September 20th, 2019, the Financial Industry Regulatory Authority (FINRA) Office of Dispute Resolution announced a $43,827 arbitration award for two Florida investors (Case Number: 17-03139). The respondents in this case were Raymond James & Associates, Morgan Keegan & Company, and Coral Gables-based financial advisor Ruben Frezzoti (CRD#: 4439983). Though, notably, Morgan Keegan was… Read More »
Florida Broker Barred from Securities Industry After Providing False Information to FINRA Investigators
Stefan Anton Pastor (CRD#: 5141819) is a former registered investment advisor and former licensed securities broker. From 2013 to 2018, Mr. Pastor served as a representative of Raymond James Financial Services in Fort Lauderdale, Florida. Before that, he was also associated with Walnut Street Securities and Ameriprise Financial. On September 4th, 2019, Stefan A…. Read More »
FINRA Arbitration Panel Awards Florida Investor $100,000 in Unsuitable Investment Claim
On August 29th, 2019, a Tampa-based FINRA Arbitration panel awarded $100,000 in compensatory damages to a Florida-based investor (FINRA Office of Dispute Resolution Case Number: 18-02477). Among other things, the investor in this case alleged that he suffered illegitimate investment losses as a result of unsuitable investment recommendations and lack of proper diversification. Unsuitable… Read More »
SEC Awards $500,000 to Overseas Securities Industry Whistleblower
On July 23rd, the Securities and Exchange Commission (SEC) announced that a $500,000 award is being issued to an overseas whistleblower. In granting the financial reward, the federal securities regulator noted that expeditious disclosures made by the whistleblower helped lead to successful enforcement action through which the agency recovered financial relief for investors. Through… 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 »
Delray Beach, FL Broker Barred for Failure to Cooperate With Investigation Into Allegations of Unsuitable Investment Recommendations
Thomas John Marino (CRD#: 4438533) is a previously licensed securities broker and registered investment advisor (RIA). Most recently, Mr. Marino was an associate of R.M. Stark & CO in Delray Beach, Florida. Prior to that, he worked as a representative for J.W. Cole Financial (2009 to 2012) and Newbridge Securities (2009). On July 18th,… Read More »
Palm Beach County Broker Barred for Failure to Cooperate With an Investigation into Unsuitable Investment Recommendations
Rafael Golan (CRD#: 1074079) is a previously registered securities broker. From 2007 to 2019, Mr. Golan was employed at Crystal Bay Securities in Delray Beach, Florida. Prior to that, this financial advisor was also associated with Independent Financial Group (2004 to 2006), Sentra Securities Corporation (2001 to 2004), and Prime Capital Services (1999 to… Read More »
