Felipe Arrieta-Former Revere Securities Broker-Discloses Customer Disputes-Boca Raton, FL

February 2018- Boca Raton, FL

Felipe Arrieta, a stockbroker who is currently employed by Dakota Securities International and was formerly employed by Revere Securities,  discloses 3 prior final and 1 pending customer disputes on his publicly available FINRA record.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In 5/2007 a customer of his former employer, Newbridge Securities Corporation, alleged suitability, use of margin, unauthorized trading and breach of fiduciary duty.   That case was settled for $60,000.

In  currently pending FINRA case 170866, filed in April 2017,  a customer of Revere Securities alleges breach of fiduciary duty, breach of contract and unauthorized trading and is seeking damages  of $200,00.

Arrieta has been employed by Dakota Securities International since 7/2016. He was employed by Revere Securities  from  8/2014-8/2016.  His previous employers include Westpark Capital Bolton Global Capital, Jesup & Lamont Securities, VFinance Investments, and Newbridge Securities.  

If you have questions about an account handled by Felipe Arrieta contact us to discuss your legal options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Christopher Hickman-Former Cetera Advisors Broker-Discloses a Regulatory Event, 7 Customer Disputes -Delray Beach, FL

February 2018- Delray Beach, FL

According to publicly available records  Christopher Hickman. (CRD#3267599) a stockbroker who is not currently registered, and who last was employed by Cetera Advisors , disclose a regulatory event and  seven customer disputes.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In June of 2017 FINRA entered into an agreement with Christopher Hickman resulting in a $115,989.75 fine and a five month suspension.   According to the agreement with FINRA:  “Without admitting or denying the findings, Hickman consented to the sanctions and to the entry of findings that he engaged in an unsuitable pattern of short-term trading of unit investment trusts (UITs) in six customer accounts.   The findings stated that Hickman repeatedly recommended that the customers purchase UITs and the sell these products within a year of purchase.  The UITs that Hickman recommended had maturity dates of 24 months or longer and carried sales charges of up to 3.95%.   Nevertheless, on dozens of occasions, Hickman recommended that his customers sell their UIT positions less than a year after purchase.   Indeed the average holding period for the UITs purchased in these six customers’ accounts was just 136 days. In addition, on several occasions Hickman recommended that his customers use the proceeds from the short-term sale of a UIT to purchase another UIT with similar or even identical investment objectives.   As a result of these transactions the six customers at issue suffered losses of approximately $115,989.75.”

Prior customer settlements include:

  • FINRA Case 17-1056- In 1/2018 a customer of Cetera Advisors was paid $150,000 to resolve allegations that Hickman was negligent and allegations of elder abuse.
  • FINRA Case 09-05733-  filed by a customer of his former employer, Banc of America,  alleged unsuitable investments and unauthorized trading.   The case was settled for $75,000.
  • FINRA Case 09-05493- a Banc of America Investment Services customer filed a dispute alleging that trading in the account was not suitable for the client and that misrepresentations were made regarding her investments.    The case settled for $650,000.

Hickman was been  employed with Cetera Advisors  from 9/2009-7/2015. Hickman discloses a business affiliation with Premier Client Investments in Delray Beach, FL.

If you have losses in an account handled by Christopher Hickman, contact us to discuss your options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

International Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Jeffrey Palish-Former Wells Fargo Broker-Charged with Theft-Woodcliff Lake, NJ and Delray Beach,FL

February 2018-Woodcliff Lake, NY & Delray Beach, FL

According to The Ridgewood Blog and other local press, Jeffrey Palish, DOB 2/23/1953 of 22 Oakwood Drive, Woodcliff Lake, New Jersey was arrested and charged with Theft by Deception.

According to these reports, the Bergen County Prosecutor’s Office received information that Palish had failed to make payments on a $100,000 loan that he had received from two elderly clients of the financial institution where he was employed. Further investigation revealed that he had received over $600,000 from the clients during the prior four years. Funds were obtained through conversion of the client’s stock holdings.

Further investigation revealed that Palish initiated approximately forty unauthorized wire transfers from the clients’ bank account to make payments to his personal credit card account. The acting Bergen County prosecutor Dennis Calo stated that the charges are merely accusations and the defendant is presumed innocent unless and until proven guilty.

FINRA records indicate that Jeffrey Howard Palish was employed by Wells Fargo Clearing Services from 8/2010-11/2017. He was discharged by Wells Fargo who made the following allegation on his FINRA record: “Registered associate received funds from client.”

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

If you have questions about how your account was handled by Jeffrey Palish , call to learn how you may be able to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Marcus Parker-Former Wells Fargo Broker-Barred From Securities Industry-Santa Fe, N. Mexico

February 2018-Santa Fe, New Mexico

According to publicly available records Marcus Duane Parker  ,  a  former stockbroker who last worked for Wells Fargo Clearing Services discloses that he was recently permanently barred from the securities industry by FINRA for failing to appear for an interview and questioning about misappropriations from client accounts.

According to FINRA records Parker acknowledged receiving the FINRA requests and indicated that he will not produce the documents and information requested.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

Parker was employed by Wells Fargo  from 9/2008-12/2017. Prior to that he was employed by Merrill Lynch in Santa Fe, New Mexico.

If you have losses in an  investment account handled by Marcus D. Parker , call to learn how you may be able to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Matt S. Neas Investigation-Former Newbridge Securities Broker-Austin, TX

February 2018-Austin, TX

According to publicly available records Matt S. Neas  , (CRD# 2863660) ,  a  former stockbroker who last worked for Newbridge Securities Corp. was recently permanently barred from the securities industry by FINRA.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

The FINRA record of Matt Neas discloses 8 prior customer disputes, a termination from employment and 4 outstanding judgment/liens. A recent press release indicates that an Austin couple has filed a FINRA arbitration claim against his employer Newbridge Securities alleging that a large part of their life savings has been lost as a result of a recommendation to invest  in risky exchange traded funds (ETFs).

The prior customer disputes that have been settled include:

  • FINRA Case 11-0767-a customer of his prior employer Merrill Lynch was paid $75,000 to resolve allegations that Neas made unsuitable investment recommendations , traded the account without permission and made excessive trades.
  • FINRA Case 8-3095- a customer of his prior employers UBS Financial Services and Merrill Lynch was paid $180,000 to resolve allegations that Neas unsuitably invested and churned his account.

Neas was employed by Merrill Lynch from 11/2005-8/2008. He was discharged by Merrill Lynch 7/2008 after the firm concluded that he exercised discretion in client accounts without written authorization.

Neas was then employed by NEXT Financial Group from 9/2008-2/2011 and with Newbridge Securities Corp. from 2/2011-3/2017. He is affiliated with Neas Financial Group in Austin, TX.

Neas discloses currently outstanding liens/judgements to the IRS of $155,388 and to Merrill Lynch of $1,083,357.

 

If you have losses in an  investment account handled by Matt S. Neas , call to learn how you may be able to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Jay D. Jordan-Former WFG Investments Broker-Subect of $9M in Customer Claims-Oklahoma City, OK

February 2018-Oklahoma City, OK

According to publicly available records Jay D. Jordan  , (CRD# 1776666) ,  a  former stockbroker who last worked for WFG Investments  discloses that he was recently permanently barred from the securities industry by the Oklahoma Department of Securities for a variety of reasons, including:

  • engaging in dishonest and unethical practices by effecting unauthorized transactions in customer accounts
  • exercising discretionary power in customer accounts
  • disclosing customer account information to an unauthorized third party
  • recommending investment strategies without reasonable grounds
  • making false statements to his brokerage firm

He was also barred from the securities industry by FINRA for exercising hundreds of unsuitable purchases of non-traditional exchange traded funds (ETFs). exercising discretion, and failing to report customer complaints to his firm.

His FINRA record discloses 10 pending and 4 prior customer disputes and a termination from employment.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In the previously resolved customer complaints, damages in excess of $1 million were paid to settle claims by customers.

The currently pending claims by customers of Jordan seek damages in excess of $9 million.

 

Jordan was employed by WFG Investments  from 9/2005-4/2016. He was discharged by WFG Investments 3/2016. WFG made the following allegation on Jordan’s FINRA record in connection therewith: “WFG has reasonably concluded the representative failed to follow certain policies of WFG, including: failure to report a customer complaint, attempting to settle a customer complaint, unauthorized use of a personal email address to communicate with a customer, and mischaracterizing aspects of an outside business activity.”

If you have losses in an  investment account handled by Jay D. Jordan , call to learn how you may be able to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Guy Conger-Former Money Concepts Capital Broker-Sanctioned by Securities Regulator-San Antonio, TX

February 2018-San Antonio, Texas

According to publicly available records Guy C. Conger  , (CRD# 2280420) ,  a  stockbroker who last worked for Money Concepts Capital,  discloses that he was recently suspended for six months and fined $15,000 by FINRA.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In February 2018, without admitting or denying FINRA’s findings, Conger consented to the entry of findings that he improperly used discretion to place trades in customer’s accounts. In addition Conger made misleading and unwarranted statements in email communications with customers that included exaggerated, promissory claims regarding performance. FINRA Case# 2016050220701.

In June 2016 a customer of Money Concepts Capital alleged damages of $50,000 for unauthorized transactions in his account. That case was settled for $33,000.

Conger was employed by Money Concepts Capital  from 10/2002-2/2017.

If you have losses in an  investment account handled by Guy Conger , call to learn how you may be able to recover damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Nationwide representation of victims of stockbroker fraud and the malpractice of investment professionals.

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