Category Archives: Sterne Agee Financial Services

Joseph C. Alexander-Sterne Agee Financial Broker-Discloses Customer Dispute

July 2016-Pell City, Alabama

The FINRA records of Joseph C. Alexander ,  a stock broker who is currently employed by Sterne Agee Financial Services, disclose  a currently pending customer dispute and a prior finalized 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, Case 01-CV-2016-900630.00 pending in the Circuit Court of Jefferson County, Alabama, a customer alleges that Alexander put them into risky and unsuitable investments and is seeking damages in excess of $5,000.

In an earlier matter customers alleged damages of $100,000 in connection with the purchase of mutual funds which the customers thought were back by the U.S. Government. That case settled in 10/2005 for $100,000 and a return of the funds.

Joseph C. Alexander has been employed by Sterne Agee Financial Services since 4/2002.

If you have questions about an account handled by Joseph C. Alexander call to learn how you may be entitled to collect 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

Thomas J. Dailey-Sterne Agee Financial Broker-Discloses $500K Customer Dispute

July 2016-Youngstown, Ohio

The FINRA records of Thomas J. Dailey ,  a stock broker who is currently employed by Sterne Agee Financial Services, disclose  a 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 FINRA Case# 15-03065, a customer of WRP Investments alleges damages of $500,000 for misrepresentations made in connection with an investment in  Florida Capital Real Estate Partnerships.

Dailey has been employed by Sterne Agee Financial Services since 9/2014. He was previously employed by WRP Investments in Youngstown, OH, from 12/2003-9/2014.

If you have questions about an account handled by Thomas J. Dailey call to learn how you may be entitled to collect 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

William R. Pintaric-Former WRP Investments Broker-Discloses $750K Customer Dispute

July 2016-Cuyahoga County, Ohio

The FINRA records of William R. Pintaric ,  a stock broker who is currently employed by Sterne Agee Financial Services, disclose  2 prior regulatory events and a 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, a customer of WRP Investments alleges damages of $750,000 for unsuitable investments in a promissory note made between 11/20/09-7/16/2012. Case CV 16 858422, Court of Common Pleas, Cuyahoga County, Ohio.

Pintaric has been employed by Sterne Agee Financial Services since 9/2014. He was employed by WRP Investments in Youngstown, OH, from 3/1977-9/2014.

If you have questions about an account handled by William R. Pintaric call to learn how you may be entitled to collect 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

Chazon Stein-Former Primex Stock Broker-Discloses Permanent Bar from Securities Industry in Florida

July 2016-Boca Raton, Florida

The FINRA records of Chazon Stein (also known as Chaz Stein, Chazoni Stein & Zoni Stein) , a  currently unlicensed stockbroker who last worked for  Primex disclose a prior regulatory event and 2 prior 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 July 2015 the Florida Office of Financial Regulation found that Chazon Stein offered and sold unregistered securities, engaged in securities  business in Florida without being registered and obtained money by means of fraud and permanently barred Stein from affiliating or seeking future registration as a dealer, investment adviser, or associated person under the Florida Securities and Investor Protection Act, Chapter 517, F.S. In addition Stein was assessed a $40,000 administrative fine.

Chazon Stein was employed by Primex  from 10/2013-1/2014. Prior to that he was employed by Sterne Agee Financial Services and Emmett A. Larkin Company.  

In July 2015, the  FBI announced today the indictment of eight individuals, including Chazon Stein, 36, of Miami Beach, for participating in securities fraud involving Thought Development Inc., a Miami Beach based company claiming invention of a green line on the football field visible, and Virgin Gaming, a fee based service facilitating on line gaming and fantasy sports leagues.

Investors who have questions about how their brokerage account has been handled by Chazon Stein should call to learn how you may be entitled to collect 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

Phillip D. Cox- Sterne Agee Broker in Atlanta Sanctioned by Regulators

July 24,  2015- Atlanta, Georgia

Phillip D. Cox, Jr.   entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he marked a total of 966 order tickets in 26 customer accounts as ‘unsolicited’ when in fact Cox had solicited each order by bringing the relative security or transaction to the attention of the customer.

AWC No. 2013038830501

Cox  was  suspended for three months, assessed a fine of $10,000 and ordered to disgorge commissions received on the sales.

According to FINRA records, Cox was registered with Sterne Agee Financial Services from 3/2010-10/2013. Prior to that he was registered with J.P. Turner & Company from 8/2007-3/2010.

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

Shaun Paul Golden-Former NEXT Financial Group Broker Sanctioned by Regulators

UPDATE FEBRUARY 2017-RIverhead, New York

In February 2017 the Florida Office of Financial Regulation entered a Final Order against Shaun Paul Golden permanently barring him from applying for registration.  Case# 68851-S

His official FINRA record discloses 1 pending and 11 prior final customer disputes.

In pending FINRA arbitration 13-0341, a customer of NEXT Financial Group alleges damages of $250,000 for unsuitable investments in variable annuities, excessive trading and churning, misrepresentation, breach of fiduciary duty and negligence.

In FINRA Case 12-01562, a customer of NEXT Financial Group alleged damages of $1.1 million resulting from unsuitable investments in oil and gas and real estate investment trusts (REITs). That case was settled for $125,000.

ORIGINAL POST JUNE 2015– Rex Securities Law is investigating former broker Shaun Paul Golden on behalf of a semi retired individual who alleges Golden recommended the purchase of certain unsuitable investments.

According to FINRA records, Golden has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public.  His FINRA CRD reveals numerous disclosures, including 5 customer complaints, an internal review, 3 terminations from employment, a regulatory action and an internal review.

His recent registration history, according to FINRA, is as follows:

  • 1/2011-5/2011              Sterne Agee Financial Services -discharged for “failure to follow firm’s policies and procedures as to information provided on the representatives compliance questionnaire”
  • 4/10/2007-1/4/2011   NEXT Financial Group– discharged- “The firm has reasonably determined that paperwork submitted for three variable annuity transactions was misleading”
  • 6/15/2001-4/102007    A.G. Edwards-left voluntarily
  • 2/2/1998-5/4/2001      Merrill Lynch– discharged “Mr. Golden was terminated after the firm learned a client alleged he exercised discretion in their account”

If you have information you believe would be helpful in this investigation, please contact us. If you have losses in an account handled by Golden, call to learn how you may be entitled to collect damages from his former employing firm.

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

Dean Mustaphalli Fund Losses ?

Rex Securities Law is investigating former broker Dean S. Mustaphalli of Forest Hills, NY, who was last registered with Sterne Agee Financial Services from 12/2009-9/2011.

On December 15, 2015, the Financial Industry Regulatory Authority (FINRA) entered an Order Accepting Offer of Settlement in Disciplinary Proceeding No 2013036880302 in which Mustaphalli consented to the entry of findings and violations consistent with a complaint filed against him by FINRA and the entry of sanctions.

Findings in the complaint include:

  • In 2011, Mustaphalli formed and managed a hedge fund which raised $6 million and received  compensation for managing the fund but failed to provide written notice or receive written acknowledgement from his employer member firm
  • Mustaphalli failed to timely provide a list of the hedge fund clients or unredacted account statements to FINRA in connection with their investigation into his activities.

Mustaphalli was suspended for two years, assessed a fine of $20,000 and ordered to disgorge management fees of $41,800.

If you suffered losses as a result of investments you made with Mustaphalli, contact us to learn 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