Category Archives: Spartan Securities Group

FINRA Fines/Censures Spartan Securities Group, Ltd.

Spartan Securities Group, Ltd. of Clearwater, Florida was fined $95,000, required to revise its written supervisory procedures and to pay restitution to a customer by FINRA to resolve allegations that it failed to contemporaneously or partially execute customer limit orders in securities after it traded each subject security for its own market-making account at a price that would have satisfied each customer’s limit order, and failed to pass along a price improvement to a customer limit order.

The FINRA findings also state that the firm failed to establish and maintain a supervisory system designed to achieve compliance with respect to certain applicable SEC and NASD rules.

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

FINRA Issues March 2012 Disciplinary Actions

FINRA (The Financial Industry Regulatory Authority) issues disciplinary and other actions monthly against member firms and individual stock brokers for violations of FINRA rules, federal securities laws, rules and regulations and the rules of the Municipal Securities Rulemaking Board (MSRB)

Here are the actions taken for the month of March 2012 against Florida members and individuals. For a complete listing of all actions, visit the FINRA website.

Tradespot Markets (formerly Beloyan Investment Securities, Inc.) & Mark B. Beloyan- Davie, FL: Fined $13,500 and suspended for 10 days for distributing misleading information in connection with sale of stock.

Spartan Securities Group LTD, Clearwater, FL-Censured and fined $52,500 and required to revise supervisory system and procedures related to order handling, best execution, anti-intimidation, trade reporting and other areas.

Erick Enrique Isaac-Aventura, FL– Barred from association with any FINRA member for payment of commissions to unregistered individual.

Scott David Mason-Debary, FL-Suspended for 18 months for establishing a hedge fund and sold partnership interests in the hedge fund without his firm’s permission, raising over $1 million.

Richard A Neaton-Port Charlotte, FL-Barred from association with any FINRA member for failure to disclose disciplinary actions and sanctions a state bar disciplinary board imposed on him.

Sergio M. Ripamonti-Sunny Isles Beach, FL-Barred from association with any FINRA member on findings that he conducted a securities business with an unregistered person.

Richard P Sandru-Fort Myers, FL– Barred from association with any FINRA member on findings he submitted forms for financial planning clients that resulted in the payment of improper fees to Sandur of more than $292,000.

Allan Anthony Scheer-Melbourne,FL-Fined $5,000 and suspended for four months for misrepresenting material information to potential clients.

Dominick A. Zavaglia, Jr.-Miami, FL– Fined $5,000 and suspended for six months for failing to timely disclose material facts on his form U4.

Firms Cancelled for Failure to Pay

Outstanding Fees 

Allegiant Securities L.L.C. (CRD #133912)

Miami, Florida

(January 11, 2012)

 

American Classic Financial Company

(CRD #24099)

Colorado Springs, Colorado

(January 24, 2012)

 

Cohen Capital Group, LLC (CRD #43418)

New York, New York

(January 11, 2012)

 

Hanmi Asset Securities, Inc. (CRD #137893)

Los Angeles, California

(January 30, 2012)

 

Lighthouse Capital Corporation

(CRD #41812)

Monterey, California

(January 30, 2012)

 

Madison Williams and Company, LLC

(CRD #149530)

New York, New York

(January 30, 2012)

 

Securities Corporation of America

(CRD #15286)

Dallas, Texas

(January 30, 2012)

 

Windfall Securities LLC (CRD #147779)

San Francisco, California

(January 30, 2012)

 

Individuals (FL only) Barred for Failure to Provide Current Information

 

Todd Nall Farmer (CRD #4364321)

Arlene Debra Cassinelli (CRD #2970803)

Michael Frank Louis (CRD #2287160)

Individuals (FL only) Suspended for Failure to Provide Current Information

 

Vladimir Avin (CRD #2625858)

Keith Kirkpatrick Lemley (CRD #1520929)

Paul Gerard Pfeiffer (CRD #4842017)

Patricia Claire Rodriguez (CRD #1947350)

If you have questions about the way your brokerage account is being handled or have unexplained losses in your stock market account, please do not hesitate to contact us .

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