Matthew J. Ronan-ViewTrade Securities Broker-Discloses Pending Regulatory Investigation

Boca Raton, Florida

According to FINRA recordsMatthew J. Ronan  a stock broker who works for ViewTrade Securities  discloses  a customer dispute that has been finalized and a pending regulatory investigation.

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.

Ronan’s FINRA record discloses that FINRA instituted an investigation in September 2015 for potential violations of Section 5 of the Securities Act of 1933 and FINRA Rule 2010. Examination #20140404879.

Section 5 of the Securities Act of 1933 regulates the timeline and distribution process for issuers who offer securities for sale. FINRA Rule 2010 is entitled Standards of Commercial Honor and Principles of Trade and states that “A member, in the conduct of its business, shall observe high standards of commercial honor and just and equitable principles of trade.”

Ronan’s  previous employment includes Wedbush Securities and Oppenheimer & Co.

If you have questions about an account handled by Matthew J. Ronan, call for a no charge consultation.

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

Alan R. Pacella-ViewTrade Securities Broker-Discloses Pending Investigation

Boca Raton, Florida

According to FINRA records, Alan R. Pacella  a stock broker who works for ViewTrade Securities  discloses a regulatory matter that has been finalized , a customer dispute that has been finalized and a pending regulatory investigation.

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.

Pacella’s FINRA record discloses that FINRA instituted an investigation in September 2015 for potential violations of Section 5 of the Securities Act of 1933 and FINRA Rule 2010. Examination #20140404879.

Section 5 of the Securities Act of 1933 regulates the timeline and distribution process for issuers who offer securities for sale. FINRA Rule 2010 is entitled Standards of Commercial Honor and Principles of Trade and states that “A member, in the conduct of its business, shall observe high standards of commercial honor and just and equitable principles of trade.”

Pacella’s  previous employment includes Mediterranean Securities Group, VFinance Investments and SMH Capital.

If you have questions about an account handled by Alan R. Pacella, call for a no charge consultation.

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

Robert M. Kuhn-Former UBS Broker-DIscloses Customer Dispute and Regulatory Matter

Plano, Texas

According to FINRA records, Robert M. Kuhn  a stock broker who worked for UBS Financial Services from  9/2011-11/2015 discloses a regulatory matter that has been finalized , a pending customer dispute  and 3 outstanding judgement/liens.

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 May 2016, the Texas State Securities Board (TSSB) suspended Kuhn in his capacity as an investment adviser representative for 30 days and fined him $5,000. The TSSB alleged that Kuhn had personally guaranteed multiple lines of credit on behalf of a private company he invested in, but did not disclose this loan guarantee to UBS.  That company failed and liens were filed against Kuhn who failed to timely disclose the liens on FINRA reporting forms in violation of the Texas Securities Act.

A dispute received in March 2016 alleges damages of $100,000 by a customer who alleges that he was lead to believe by Kuhn that the principal of an annuity was protected against market loss and could never go down. The customer also alleges that the annuity is unsuitable.

If you have questions about an account handled by Robert M. Kuhn, call for a no charge consultation.

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

Dion R. Padilla-NEXT Financial Group Stockbroker-Investigation Update

San Antonio, Texas

According to FINRA records, Dion R. Padilla  a stock broker who has worked for NEXT Financial Group since 2/2006  discloses that a customer has filed an arbitration seeking damages of $347,000. Padilla also operates Padilla Wealth Management.

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 customer alleges that in April 2007 Padilla failed to include a principal protection for life rider in connection with a recommended variable annuity investment.

Padilla discloses that in 2014 a customer alleged that he executed an unauthorized trade involving a variable annuity. That matter was settled for $69,400.

In September 2015 FINRA initiated an investigation of Padilla for a potential violation of FINRA Rule 2010 for making an unauthorized purchase of a variable annuity and other violations related to misrepresentations and omissions. That matter is currently pending.

If you have questions about an account handled by Dion Padilla, call for a no charge consultation.

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

Noe Garcia, Sr. of State Farm VP Management Sanctioned by Securities Regulator

Odessa, Texas

According to FINRA records, Noe Garcia, Sr.  a former investment company products and variable contracts representative for State Farm VP Management  from 5/2007-11/2015 discloses that he was sanctioned by FINRA for failing to amend FINRA reporting forms to disclose a state and a federal tax lien. In addition FINRA alleged that Garcia inaccurately responded on questionnaires that  he was not the subject of an unsatisfied lien.

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.

Garcia was fined $5,000 and suspended in all capacities for three months.

FINRA Case 2015047704001

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

Danny M. Thomas-Former Broker with State Farm VP Management-Barred From Securities Industry

Little Rock, Arkansas

According to FINRA records, Danny M. Thomas  a broker who worked for State Farm VP Management  from 8/2003-9/2015 discloses that he was permanently barred from the securities industry in May 2016.

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.

Thomas, without admitting or denying the findings,  consented to the sanctions and to the entry of findings that he failed to appear for on the record testimony in connection with a FINRA investigation into allegations that Thomas failed to disclose or timely disclose multiple tax liens on FINRA reporting forms.

FINRA Case 2015047087001

The official FINRA record of Thomas discloses five outstanding tax liens in favor of the State of Arkansas ranging in amounts from $14,121 to $22,031.

If you have questions about a brokerage account handled by Danny M. Thomas, call for a no charge consultation,

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

David Newman-Former First Western Securities Broker-Fined by Securities Regulator

Hurst, Texas- April 2016

David P. Newman who formerly was a stockbroker with First Western Securities  (4/2008-1/2016) in Hurst, Texas,  entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that between fall 2012 and spring of 2015 he participated in undisclosed securities transactions by introducing a married couple and two other individuals to an outside investment.

FINRA alleged that nearly $900,000 was invested by Newman on behalf of the individuals for which he received a 10% commission. His actions violated various NASD and FINRA Rules requiring notice to his member firm and the requirement that recommendations for investments be suitable for the customer.

An insurance agent from Wichita Falls, Texas, Bobby Collins was selling notes to investors and the money raised purportedly was to be used for various business purposes. Collins was charged by the SEC with operating a fraud targeting elderly investors in November 2015, since he did not use the money raised for valid business purposes.

FINRA alleged that Newman did not perform adequate due diligence on the proposed investment and did not adequately investigate  Collin’s background prior to making the recommendation that his customers invest in Collin’s scheme.

Newman was fined $15,000, suspended for 15 months and required to disgorge the commissions of $89,500 he earned.

AWC 2015046649901

Newman’s FINRA record discloses 4 pending Internal Revenue Service liens ranging in amount from $594 to $999,0000.

If you have losses in an account handled by David Newman 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

James P. Scullin-Former UBS Broker-Discloses $7 Million Customer Complaint

Coral Gables, Florida

According to FINRA records, James P. Scullin  a broker who worked for UBS Financial Services from 6/2011-11/2014 discloses that he was discharged by UBS Financial in October 2014. He also discloses a pending customer dispute.

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 connection with his discharge  from UBS Financial Services , the company made the following allegations:

“Mr. Scullin’s employment was terminated when the firm learned that he (1) actively traded in an undisclosed commodities account outside UBS; (2) exercised discretion without written authorization in violation of firm policy: and (3) entered an unauthorized trade “

In pending FINRA Case 14-3513, a UBS customer alleges damages of $7,000,000 for unauthorized trading and excessive commissions in 2014.

Scullin entered into a settlement agreement with FINRA in April 2016 to resolve the regulator’s allegations that he placed a trade of over $5,000,000 in September 2014 without authorization from the customer and when questioned about the trade by the customer Scullin initially concealed the trade. He was fined $15,000 and suspended from association with any FINRA member for nine months. FINRA Case 2014043554601. 

If you have losses in an account handled by James P. Scullin  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

How to Recover Damages for Losses on Oil and Gas Investments Purchased from PTX Securities

Investors suffering losses on oil and gas investments purchased from PTX Securities of Plano, Texas, may be able to recover damages through FINRA arbitration.

PTX Securities (fka Balanced FInancial Securities) was sanctioned by FINRA in April 2016 for failure to perform adequate due diligence in connection with the sale of two private placement oil and gas offerings. See this for details on the sanction.

Call for a no charge consultation to learn about 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

PTX Securities Sanctioned Over Oil & Gas Investments by Securities Regulator

Plano Texas- April 2016

PTX Securities  LLC (formerly Balanced Financial Securities) entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that PTX failed to conduct adequate due diligence on two oil and gas private placement offerings.

FINRA alleged that from April 2013 to June 2014 PTX derived the majority of its revenue from its role as a managing wholesaler broker dealer for four oil and gas private placement offerings, however PTX failed to conduct adequate due diligence for two offerings approved in October 2013 and January 2014 in violation of NASD Rule 3010(b) and FINRA Rule 2010.

AWC 20140390961

PTX Securities was censured and fined $20,000 .

PTX Securities   has been a FINRA member firm since December 1978 and employs approximately 12 registered representatives from its office in Plano, Texas.

If you have losses on investments that you purchased from PTX Securities 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

Current information for investors seeking information on recovery of investment losses due to the negligence or fraud of stockbrokers and brokerage firms. Nationwide representation.