Tag Archives: Wedbush Morgan Securities investigation

Larry Boggs-Former Ameriprise Broker-Sanctioned for Overtrading Accounts of Elderly Customers-Dallas, TX

February 2018-Dallas, TX

Larry M. Boggs,  a  former stockbroker who worked for Wedbush Securities and Ameriprise Financial Services in Dallas was permanently barred from the securities industry by FINRA in January 2018.

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 recent regulatory agreement Boggs, without admitting or denying the findings, consented to the sanctions and to the entry of findings that he engaged in excessive and unsuitable trading in the accounts of customers, including several customers who were over 80 years of age. The customers accounts were designated conservative or moderate risk tolerance however the high frequency trading strategy employed by Boggs would have required the customers to earn 15% annually just to break even on the commissions and trading costs. FINRA AWC 2015045518901

 

Boggs was employed by Wedbush Securities from 5/2015-7/2016 and was with Ameriprise Financial from 10/2009-5/2015 when he was discharged for violations of company policy related to discretionary trading and suitability.

If you are a former customer of Larry Boggs and have suffered losses in your account , contact us to discuss how you may be able to recover damages for those losses 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

Antonio Costanzo-Former Newport Coast Securities Broker-Discloses Churning Complaint-Industry Bar

July 2016-Chesapeake, VA

The FINRA records of Antonio Costanzo  , a former stock broker who was last employed by  TItus Rockefeller  disclose a pending regulatory event, a prior final regulatory event, 8 prior customer disputes and a 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.

Costanzo‘s FINRA disclosure reports that he is named in a FINRA complaint alleging that he, with his then member firm Newport Coast Securities and other firm representatives excessively traded and churned customer accounts. FINRA alleges that Costanzo engaged in a deceptive and manipulative scheme by churning the accounts of customers and acted with the intent to defraud customer’s interests by seeking to maximize his own remuneration. Costanzo violated his obligation to conduct his activities in accordance with ethical standards by conditioning restitution offers upon customer’s’ refusal to cooperate with a FINRA investigation and by attempting to dissuade customers from testifying in the disciplinary hearing. FINRA Case# 2012030564701.

In August 2015, Costanzo was permanently barred from the securities industry by FINRA for failing to respond to a FINRA request for information. FINRA Case#2015044604701.

Four  of the prior customer disputes were settled with payments of monetary compensation.

In July 2008, Costanzo was discharged by Wedbush Morgan Securities who alleged “violation of industry rules, possible fraud’ in connection with the termination.

Costanzo was employed by TItus Rockefeller from  1/2013-3/2015, with IFS Securities from 7/2012-12/2012 and with  Newport Coast Securities  from 7/2008-8/2012.

Investors who suffered losses in an account handled by Antonio Costanzo may be entitled 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