Category Archives: Unsuitable Investments
Florida Broker Fined and Suspended for Excessive Trading
Sean P. McCabe (CRD #5479643) is a registered securities broker. Mr. McCabe is listed by the Financial Industry Regulatory Authority (FINRA) as a resident of Palm Beach County, Florida. Since March of 2020, he has been a representative of Network 1 Financial Securities. In January of 2025, FINRA suspended Mr. McCabe for three months… Read More »
Florida Broker Fined and Suspended for Unsuitable Investment Recommendations
Victor Alan Lessinger (CRD #830821) is a previously registered securities broker. From October of 2012 to April of 2023, Mr. Lessinger was a representative of Colorado Financial Service Corporation in Boca Raton, Florida. He was recently fined and suspended by the Financial Industry Regulatory Authority (FINRA) for making unsuitable investment recommendations. Here, our Miami… Read More »
Broker from Miami Barred, Held Liable for Unsuitable Investment Recommendations
Mark Sam Kolta (CRD #5324620) is a previously registered broker and previously registered investment adviser (RIA). Mr. Kolta is currently listed by the Financial Industry Regulatory Authority (FINRA) as a resident of Miami, Florida. Earlier this year, FINRA’s Office of Hearing Officers (OHO) issued a decision against his broker. Here, our Miami unsuitable investment… Read More »
FINRA Complaint: Florida Broker Charged With Unsuitable Investment Recommendations
Michael Charles Grande (CRD No. 1219255) is a previously registered securities broker. From November of 2005 to May of 2022, Mr. Grande was a registered representative of Newbridge Securities Corporation in Fort Lauderdale, Florida. FINRA has filed a complaint against his financial advisor (Disciplinary Proceeding No. 2018060128401). The agency contends that Mr. Grande failed… Read More »
SEC Obtains Final Judgment from Federal Court in Florida Against Former Registered Representative Charged With Unsuitable Investments and Unauthorized Trading
On November 17th, 2023, the Securities and Exchange Commission (SEC) announced that a final judgment has been obtained against Alan Z. Appelbaum (CRD#: 500336). Mr. Appelbaum—who was most recently associated with Aegis Capital Corp in Boca Raton, Florida—was charged with making unsuitable investment recommendations and engaged in unauthorized trading. Here, our Miami unsuitable investments… Read More »
FINRA Arbitration Panel In Florida Awards Claimant Nearly $100,000 In Damages
On February 22nd, 2023, a Financial Industry Regulatory Authority (FINRA) arbitration panel in Tampa, FL awarded a claim of nearly $100,000 in damages (Case Number: 22-01019). The case was centered on allegations of losses caused by unsuitable investment recommendations and other industry violations. Below, our Miami unsuitable investment attorney provides an overview of ruling… Read More »
Florida Brokerage Firm Censured, Fined For Failure To Establish And Implement Property Supervisory System
Kovack Securities Inc. (CRD#: 44848/SEC#: 8-50847) is a Fort Lauderdale headquartered brokerage firm that is licensed to operate in 53 U.S. states and territories. On August 23rd, 2022, the Financial Industry Regulatory Authority (FINRA) announced a censure and a significant civil fine against Kovack Securities Inc. for its failure to put a proper supervisory… Read More »
Florida Broker Fined And Suspended For Unsuitable Investment Recommendations
Phil Donahue (CRD#: 1206346) is a licensed securities broker and registered investment adviser (RIA). Currently, Mr. Donahue serves as a registered representative for Primerica Advisors and PFS Investment Inc. in Panama City Beach, Florida. On August 10th, 2022, the Financial Industry Regulatory Authority (FINRA) fined and suspended Mr. Donahue for violation of FINRA Rule… Read More »
SEC Charges Broker And Registered Representative In Complex Unsuitable Investments Case
On July 29th, 2022, the Securities and Exchange Commission (SEC) released a litigation update in the matter of Aegis Capital Corp (CRD#: 15007/SEC#: 801-71386, 8-31616). The federal agency has charged the company’s former managing director Alan Z. Appelbaum (CRD#: 500336) as well as former registered representative Paul F. Gallivan (CRD#: 5793918) in relation to… Read More »
UBS Will Pay $25 Million To Settle Yield Enhancement Strategy (YES Strategy) Fraud Charges
On June 29th, 2022, the Securities and Exchange Commission (SEC) announced that UBS Financial Services Inc., the multinational investment banking company and brokerage firm, will pay around $25 million to settle investment fraud charges related to its Yield Enhancement Strategy (YES Strategy). Here, our Miami unsuitable investment losses lawyer discusses the settlement and Yield… Read More »
