Recent Blog Posts
FINRA Arbitration Panel Awards $1.88 Million to Investors in Puerto Rico Bond Case
On March 28th, 2018, a FINRA arbitration panel based in San Juan, Puerto Rico found UBS Financial Services and UBS Financial Services of Puerto Rico legally liable for $1.88 million in losses sustained by two investors and one retirement fund. The investment products at issue in this case were Puerto Rico closed-end and Puerto… Read More »
SEC Charges Two Florida Men in $32 Million ICO Scam
On April 2nd, 2018, the Securities and Exchange Commission (SEC) announced investment fraud charges against two Florida men. In a complaint filed in the United States District Court for the Southern District of New York, the SEC alleges that Sorbah Sharma and Robert Farkas, the co-founders of a company named ‘Centra Tech’, concocted an… Read More »
FINRA Permanently Bars Miami Securities Broker Who Cost Morgan Stanley $2.5 Million
On March 19th, 2018, the Financial Industry Regulatory Authority (FINRA) announced that it has permanently barred registered broker Thomas Alan Meier (CRD#: 1146044) from associating with any FINRA member, in any capacity. According to FINRA investigators, Mr. Meier made more than 1,2000 unauthorized trades on at least six different customer accounts. At the time… Read More »
SEC Charges Florida Man With Penny Stock Fraud
On March 9th, 2018, the Securities and Exchange Commission (SEC) filed a civil complaint against Brian Robert Sodi, a penny stock promoter based in South Florida. According to the SEC, Mr. Sodi engaged in a classic ‘pump and dump’ scheme, confidentially buying up shares of lightly traded securities, then dumping all of his holdings… Read More »
Broward County Brokerage Firm Fined $125,000 Inadequate Supervisory System
Recently, the Financial Industry Regulatory Authority (FINRA) issued a $125,000 fine against TradeStation Securities, Inc. (CRD #39473), a brokerage firm headquartered in Plantation, Florida. This broker-dealer has been in business since 1995 and is licensed to operate in 51 American states and U.S. territories. According to FINRA investigators, TradeStation Securities executed extended hours trades… Read More »
Florida Investment Advisor Fined, Suspended for Unauthorized Transactions
On February 21st, 2018, the Financial Industry Regulatory Authority (FINRA) announced sanctions against Heather Xanthe VanLandingham (CRD#: 5343446), a broker most recently located in Riverview, Florida. According to information provided by FINRA, Ms. VanLandingham was accused of conducting unauthorized transactions on a client’s account. The alleged misconduct in this case occurred in 2016, when… Read More »
Supreme Court Issues Important Ruling in SEC Whistleblower Case
On February 21st, 2018, the Supreme Court of the United States issued a ruling in the case of Digital Realty Trust, Inc. v. Somers. In a unanimous decision, the nation’s highest court held that whistleblowers must report allegations of misconduct to the SEC in order to qualify for legal protections under Dodd-Frank. This is… Read More »
Palm Beach Gardens Brokerage Firm Fined for Overcharging Customers
On February 20th, 2018, the Financial Industry Regulatory Authority (FINRA) announced sanctions against GWN Securities, Inc. (CRD#: 128929), a brokerage firm based in Palm Beach Gardens, Florida. This broker-dealer employs more than 600 securities representatives nationwide and is licensed to operate in all 50 States. According to FINRA investigators, GWN Securities, Inc. failed to… Read More »
SEC Announces $81 Million Settlement in the Jay Peak Investment Fraud Case
On February 2nd, 2018, the Securities and Exchange Commission (SEC) announced that it has reached an $81 million settlement with South Florida businessman Ariel Quiros. Mr. Quiros has been at the center of the Jay Peak investment fraud case. According to the SEC, this money will be used to compensate investors who were affected… Read More »
Palm Beach County Broker Barred for Failure to Cooperate With a FINRA Investigation
According to information released by the Financial Industry Regulatory Authority (FINRA), Lisa J. Lowi (CRD #1347790) has been permanently barred from the securities industry. In late 2017, FINRA requested on-the-record testimony from Ms. Lowi as part of an investigation it was conducting into claims that she had recommended unsuitable investments to customers. Investigators report… Read More »
