Category Archives: New England Securities

Thomas H. Oliphint-Former LPL Financial Broker-Discloses Customer Disputes and Termination From Employment-San Antonio, TX

April 2017-San Antonio, TX 

According to publicly available records Thomas H. Oliphint , (CRD#1172870) ,  a  stockbroker who is not currently registered and who last was employed by LPL Financial  discloses  2 prior customer disputes and a recent 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.

Thomas H. Oliphit was employed by LPL Financial  from 8/2006-12/2016. In 1/2016 Oliphint was discharged by LPL Financial who made the following allegation on his FINRA record: “Violation of Firm policy regarding outside business activity”

Oliphint’s  prior securities industry employment includes, MML Investor Services and New England Securities. He discloses business affiliation Grand Purpose Advocate.

If you have questions about  an account handled by Thomas H. Oliphint call 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.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

William F. Albin-former Waddell & Reed Broker-Discloses Discharge

July 2016- Las Vegas, NV

According to publicly available records William F. Albin , (CRD# 1744984) ,  a  stockbroker who is currently unregistered discloses that he was discharged from Waddell & Reed, Inc. in July 2016.

Waddell & Reed made the following allegation on Albin’s regulatory record in connection with the discharge: “RR (registered representative) used discretion in multiple client accounts without written authorization in violation of the firm’s policies”

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.

Albin  was registered with Waddell & Reed from 4/2015-7/2016. His prior employments in the securities industry include Metlife Securities, New England Securities, Wedbush Securities and RBC Dain Rauscher.

Public records disclose that Albin voluntarily resigned from RBC Dain Rauscher in 2003. RBC Dain Rauscher made the following allegations in connection with that incident:“In the course of conducting routine surveillance of client accounts, concern were raised about Mr. Albin exercising discretion in certain client accounts without written authority.”

Discretionary trading is listed a Prohibited Conduct by FINRA, who states: “Purchasing or selling securities in a customer’s account without first contacting the customer and receiving the customer’s authorization to make the sale or purchase, unless the broker has received from the customer written discretionary authority to effect transactions in the account or the broker was given discretion as to price and time.”

If you have questions about an account in an account handled by William F. Albin , 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

William Fox-First Allied Securities Broker-Discloses Pending Customer Dispute-Austin, TX

October 2016-Austin, Texas

The FINRA records of  William F. Fox,  a  stockbroker who is currently employed by  First Allied Securities  disclose 1 prior customer dispute that is final and one currently 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 the currently pending matter, FINRA Case 16-0312, a customer of Fox while he was employed by New England Securities alleges damages in excess of $100,000 in connection with the recommendation to invest in  private placement real estate investment trusts (REIT) that the customer alleges was not appropriate.

Fox has been registered with First Allied Securities  since 11/2014. Prior to that Fox was registered with New England Securities .

If you have losses in an account in an account handled by Wiliam F. Fox , contact us to discuss how you may be able to recover damages for those losses.

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

Austin Texas New England Securities Broker Sanctioned

October 3, 2013

Matthew King Absher, formerly a broker with New England Securities entered into a Letter of Waiver Acceptance and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he engaged in an outside business activity from June 2013 to September 2013 without providing written notice to his firm. Asher was fined $5,000 and suspended for 60 days. Case#2013038446701

According to FINRA records Absher 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

Jay John Soojian Sanctioned by Regulators for Sale of Osiris Securities

In July 2014 Jay John Soojian entered submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority (FINRA)  to resolve allegations that he he fraudulently omitted material facts in connection with his sales of $775,000 of Osiris Fund limited partnership interests. FINRA also alleged that Soojian participated in private securities transactions with written approval from his firm.

According to FINRA records, Soojian was registered with New England Securities from 12/2000-8/2011 and with Park Avenue Securities from 09/2011-10/2012.

Soojian was  permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public.

Rex Securities Law provides nationwide representation to investors 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.

Rex Securities Law

561 391 1900

Former New England Securities Broker Timothy Coyle Fined & Suspended by FINRA

By Robert H. Rex, Esq. 

 
In January 2014, FINRA announced that Timothy John Coyle of Palm Harbor, Florida, was fined $5,000 and suspended for six months based upon findings that he forged signatures on documents and also forged a customer’s initials next to amendments to a variable annuity application. The findings stated that the customer signatures and initials Coyle forged were done without the customer’s knowledge or consent. 
 
The suspension if from December 2, 2013-June 1 2014. 
 
According to FINRA records, Coyle most recently was registered with New England Securities from 7/2008-2/2012. 
 
If you have questions about the way your brokerage account has been handled call 561 391 1900 to speak with an experienced securities attorney or click the “Contact Us” button above and tell us a little bit about your situation and we will be in touch.
 
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