Tag Archives: Miami Investment Fraud Lawyer
Raymond James Fined $2 Million for Failure to Implement Adequate Supervisory System
On December 21st, 2017, the FINRA Department of Enforcement announced a $2 million fine against Raymond James Financial Services, Inc (CRD No. 6694), a large brokerage firm headquartered in St. Petersburg, Florida. According to the investigation conducted by FINRA staff members, Raymond James failed to design and implement an adequate supervisory system to monitor… Read More »
SEC Announces Charges Against Businessman and Two Companies in ICO Scam
On September 29th, 2017, the Securities and Exchange Commission (SEC) announced investment fraud charges against Maksim Zaslavskiy. According to federal investigators, Mr. Zaslavskiy, through two companies that he controlled, fraudulently sold unregistered securities to unsuspecting investors. This case is notable as it involved initial coin offerings (ICOs), a new type of securities product backed… Read More »
Florida Broker-Dealer Censured, Fined $100,000 for Penny Stock-Related Misconduct
On July 11th, 2017, FINRA’s Department of Enforcement announced that it reached a settlement with Spartan Securities Group, LTD (CRD No. 104478), a registered brokerage firm, based in Clearwater, Florida. Without admitting to or denying any misconduct, Spartan Securities accepted penalties that include a: Public censure; and $100,000 fine. These penalties were brought against… Read More »
SEC Charges Investment Adviser With Defrauding Professional Athlete and His Wife
Washington D.C., Aug. 22, 2017— sec.gov/news/press-release/2017-147 The Securities and Exchange Commission today charged investment adviser Jeremy Drake with defrauding two clients, a high profile professional athlete and the athlete’s wife, by deceiving them about the investment advisory fees they were paying. The SEC alleges that Drake went to elaborate lengths to conceal his fraud,… Read More »
Florida Broker Suspended for Eighteen Months for Undisclosed Outside Business Activities
Recently, FINRA’s Department of Enforcement announced an eighteen month suspension of William Campbell Webb (CRD# 1621426), a Florida broker who was most recently employed at the Panama City office of Raymond James & Associates. Mr. Webb was also assessed a deferred fine of $15,000 for his misconduct. The case against Mr. Webb involved multiple,… Read More »
Palm Beach Gardens Brokerage Firm Ordered to Pay $2.3 Million in Restitution
Legend Equities Corporation (CRD#: 30999), a brokerage firm headquartered in Palm Beach Gardens, Florida, has accepted and consented to sanctions that include public censure and financial restitution that is currently estimated at $2,300,188. Without admitting or denying any wrongdoing, the firm agreed to these penalties to settle FINRA Case #2016050259801. This claim stemmed from… Read More »
Ameriprise Financial Services Broker Barred for Failure to Disclose Private Transactions
On May 30th, 2017, a FINRA Hearing Panel issued a final decision in the case that has been brought against former Ameriprise Financial Services broker Jim Seol (CRD#: 2876279). After reviewing the allegations against this investment advisor, the hearing panel issued sanctions, permanently barring Mr. Seol from the securities industry for his failure to… Read More »
Florida Financial Advisor Accused of Failing to Disclose Outside Business Activities
Erick J. Arnett (CRD#: 5007131), a registered investment advisor who was most recently employed at Taylor Capital Management Inc., a firm based in Spring Hill, Florida, has been accused of engaging in business activities outside the normal scope of his relationship with his member firm. This type of activity is a direct violation of… Read More »
Florida Brokerage Firm Fined $225,000, Ordered to Pay More Than $500,000 in Restitution
Recently, the Financial Industry Regulatory Authority (FINRA) announced sanctions against Invest Financial Corporation (CRD#: 12984), a registered broker-dealer that is based in Tampa, Florida. According to investigators, Invest Financial Corporation failed to identify and apply a large number of sales charge waivers to eligible customers. Full information regarding this case can be found by… Read More »
Florida Investment Firm Censured and Fined $75,000 by FINRA
Have you ever invested your hard earned money with Dawson James Securities, Inc. (CRD#: 130645), a brokerage firm based out of Boca Raton, Florida? If so, you need to be aware of the recent disciplinary action that has been taken against the company. Earlier this year, the FINRA Department of Enforcement announced fines against… Read More »
