Category Archives: Allstate Financial Services

Allstate Financial Services Broker Discharged/ Sanctioned by Regulators- Griffin, Georgia

January 13, 2016- Griffin, Georgia

Stanley Ball entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that while he was registered with Allstate Financial Services,  he failed to amend his Uniform Application for Securities Industry Registration or Transfer (U4) to report:

  • two bankruptcy filings
  • five tax liens
  • two judgments

By such conduct Ball violated FINRA by-laws and rules. In addition Ball made false attestations to his employer on annual compliance questionnaires in which he failed to disclose the bankruptcies, liens and judgments.

AWC No.  2015044683301

Ball was fined $5,000 and suspended for 6 months.

FINRA records indicate that Ball was registered with Allstate Financial Services from 7/2002 -3/2015, when he was discharged by Allstate who made the following allegation on his FINRA record:

‘Failure to adhere to heightened supervision plan by not providing payment plans for federal and state tax liens. “

Ball is not currently registered.

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

Allstate Finanical Stock Broker Sanctioned for Failing to Report IRS Liens-Melrose, Illinois

October 13, 2015

Jose Luis Rodriguez , entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he willfully violated FINRA by-laws and FINRA Rules 1122 and 2010 by failing to amend his Form U4 to disclose that he was the subject of multiple tax liens.

According to FINRA, Between March 2009-May 2013, twelve liens (11 by the Internal Revenue Service and 1 by the State of Illinois) were filed against Rodriguez.

AWC No. 2014041419201

Rodriguez was suspended for three months and fined $5,000.

According to FINRA records, Rodriguez   was registered with Allstate Financial Services from 8/2005-9/2015.

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

Allstate Financial Services Broker in Lexington, SC, Barred from Securities Industry

October 6, 2015 – Lexington, SC

Joseph Murry Snyder, III  , entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he failed to provide on the record testimony as requested by FINRA in connection with an investigation into his termination from his member firm and allegations that he misappropriated customer cash insurance premium payments, falsified company records and use his personal credit card to make installment payments on insurance policies of customers.

AWC No. 2014040233501

Snyder  was barred from the securities industry.

According to FINRA records, Snyder  was registered with Allstate Financial Services from 7/2011-2/2014.

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

Tampa Allstate Financial Services Broker Sanctioned by Securities Regulators

August18, 2015,

Mark Brian Quimby entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he caused two customers to invest in an investment fund operated by his wife but not offered by his member firm.

According to FINRA Quiby did not get the approval of his member firm nor did he provide written notice to his firm in violation of NASD Rule 3040 and FINRA Rule 2010.

AWC NO. 2014041780601

Quimby was suspended for three months and assessed a deferred fine of $10,000.  According to FINRA records, Quimby was registered with Allstate Financial Services  in Tampa, FL , from 2/2008-6/2014.

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

Allstate Financial Services Broker Barred For Falsifying Insurance Applications

June 23, 2015

Michael G. Seidel  entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he  submitted falsified applications for automobile insurance to Allstate’s insurance affiliate for 4 customers who would not have otherwise qualified for coverage or would not have qualified for the reduced rates they received. As a result Seidel violated FINRA Rule 2010.

Seidel, of Baltimore, Maryland  was barred from associating with any FINRA member firm in any capacity.

AWC NO. 2014041669901

According to FINRA records, Seidel  was registered with Allstate Financial Services 4/2013-6/2014.

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

Fitzhugh Duggan -Former Sandlapper Securities Broker-Sanctioned by FINRA-Colorado Springs, CO

JUNE 2017 UPDATE-Colorado Springs, CO

In January 2015 Fitzhugh L. Duggan III  entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that between May 2012-September 2012, while employed by Sandlapper Securities he falsely listed himself as the broker of record on applications and other documents for 23 variable annuity transactions.

Duggan was suspended for three months and fined $5,000. FINRA Case # 2012034112401

FINRA records indicate that prior to Sandlapper where he was registered from 3/2012-9/2012, he was registered with International Financial Solutions 2/2012-3/2012 and prior to that at New England Securities 3/2010-10/2011. He was registered with IBN Financial Services 9/2012-11/2013 and with Allstate Financial Services from 12/2014-2015.

Duggan was discharged by Sandlapper Securities 9/2012 for improprieties related to the sale of Lincoln variable annuities.

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

Jaime Morales-Investment Professionals Stockbroker- Sanctioned by FINRA-San Antonio, TX

November 24 , 2014-San Antonio, Texas

FINRA suspended  Jaime Morales of Castle Hills, TX on November 14, 2014, for failing to comply with an  arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance. That suspension was lifted December 8, 2014.

According to FINRA records,  Morales is currently registered with Investment Professionals, Inc. in San Antonio, TX. Morales was previously registered with Allstate Financial Services   from 9/2012-12/2013 . Prior to that Lawrence was registered with Wells Fargo Advisors from 6/2008-7/2012.

Morales also discloses that he filed for Chapter 7 bankruptcy protection 11/24/2014.

The Financial Industry Regulatory Authority (FINRA) publishes disciplinary actions involving stockbrokers and stock brokerage firms on a monthly and quarterly basis. That site may be accessed here. 

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