Category Archives: StockBroker Misconduct

Merrill Lynch, Stockbroker Malpractice, StockBroker Misconduct, UBS, Unsuitable Investments

John Loughran-UBS Financial Broker-Discloses $500K Pending Customer Dispute-NYC

April 2021- New York, NY

According to publicly available records,   UBS Financial Services financial advisor John Loughran,  discloses a pending customer dispute and a prior settled 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 June of 2019, a customer of UBS filed FINRA case #19-01302- alleging unsuitability and misrepresentation regarding an options overlay strategy investment the unsuitability of  a recommendation to hold the strategy.   The alleged damages are $500,000.

Loughran  has been employed with UBS Financial Services, Inc. since July of 2017.   Before that time he was employed with Merrill Lynch, Pierce, Fenner & Smith.  

If you have losses in an account handled by John Loughran, call to learn how you may be able 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

Morgan Stanley, Morgan Stanley Smith Barney, Stockbroker Malpractice, StockBroker Misconduct, UBS, Unsuitable Investments

David Fenning-Morgan Stanley Broker-Discloses Settled 4 Customer Disputes and 1 Pending Customer Dispute-NY, NY

April 2021- New York, NY

According to publicly available records David W. Fenning (CRD#1005307), a stockbroker who works for Morgan Stanley Smith Barney  discloses 4 settled customer disputes and 1 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.

From July of 1997 until July 2011, four customer disputes were filed by customers of UBS Financial Services, Inc. – Fenning’s previous employer – alleging among other things, unsuitable recommendation and misrepresentations in connection with purchase of structured products, notes and preferred stock, breach of fiduciary duty, negligence, fraud and unauthorized trades and transactions.   These cases were cumulatively settled for $369,000.

In May of 2020, FINRA case #20-01343 was filed by a customer of UBS Financial Services, Inc., alleging unsuitability and negligence with respect to recommendations of investment of accounts.   The alleged damages are $173,000 .

Fenning has been employed with Morgan Stanley Smith Barney since May of 2019. Before that he worked with UBS Financial Services, Inc.

If you had an account with David Fenning that suffered losses, you may be entitled to collect damages from his prior employer. 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

Finra Investigation of Stockbroker, J.P. Morgan Securities, Stockbroker Discharged, Stockbroker Malpractice, StockBroker Misconduct

Forouzan Pooladi-Former JP Morgan Broker-Barred from FINRA-Great Neck, NY

April 2021-Great Neck, NY

According to publicly available records, former JP Morgan Securities,  financial advisor Forouzan Pooladi,  has been barred from the securities industry.

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 August of 2020  in FINRA case 201906474601 Pooladi was  permanently barred from the securities industry to resolve allegations that she refused to provide documents and information requested by FINRA in connection with its investigation initiated after receiving a Form U5 from her member firm indicating that Pooladi was terminated for violating an affiliate bank’s policy governing personal finances by conducting numerous transactions under the currency transaction reporting threshold and for performing an affiliate bank transaction between a business customer and husband’s personal affiliate bank account.  Pooladi was permanently barred from FINRA in all capacities.

Pooladi was employed by JP Morgan from April of 2016 until she was terminated in September of 2019 for violating affiliate Bank Policy by conducting numerous transactions under the currency transaction reporting threshold.   

If you have losses in an account handled by Forouzan Pooladi, call to learn how you may be able 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

Finra Investigation of Stockbroker, Outside Business Activities, Stockbroker Discharged, Stockbroker Malpractice, StockBroker Misconduct

Steven Harris-Former Transamerica Financial Broker-Barred from FINRA- Burr Ridge, IL

April 2021- Burr Ridge, IL

According to publicly available records, former Transamerica Financial Advisors, Inc.  financial advisor Steven Harris, discloses two regulatory events, a termination and has been barred from the securities industry.

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 March of 2020 FINRA case # 2019062092401 alleged that Harris manufactured faked documents that he then provided to FINRA in response to its request during an investigation of his undisclosed outside business activity.    The complaint alleges that FINRA requested that Harris provide certain financial information and bank statements and in response Harris provided false and incomplete information to it.    Harris created fake bank statements for other accounts he purported to hold and provided manufactured documents to FINRA.    The complaint alleges that Harris repeatedly lied about his actions during an on-the-record testimony, falsely claiming that he did not alter any of the records that he produced to FINRA.   Harris was permanently barred from FINRA in all capacities.

In September of 2017 case 2017053990001 alleged that Harris failed to respond to FINRA request for information.   Sanctions were a 30 day suspension. Harris was employed with Transamerica Financial Advisors, Inc., from August of 2018 until May of 2019 when he was terminated after a complaint was received by the firm alleging that Harris had received funds from a client in relation to an investment opportunity that was not approved by the firm.

Harris was employed with Transamerica Financial Advisors from March of 2018 until May of 2019 when he was discharged after a complaint was received by the firm alleging that Harris had received funds from a client in relation to an investment opportunity not approved by the firm.    

If you have losses in an account handled by Steven Harris, call to learn how you may be able 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

Allstate Financial Services, Failure to Supervise, Finra Investigation of Stockbroker, LPL Financial, Merrill Lynch, Misrepresentation, Outside Business Activities, Selling Away, Stockbroker Malpractice

Jason Poff-Allstate Financial Services-Discloses Customer Complaint & Regulatory Event-Houston, TX

April 2021- Houston, TX

According to his FINRA record  Jason H. Poff , a financial advisor employed by Allstate Financial Services  discloses a pending regulatory investigation and a prior 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 12/2020 FINRA initiated an investigation into an alleged outside business activity operated by Poff while he was employed by LPL Financial. According to the regulatory complaint Poff drafted consulting contracts between this outside business and his FINRA firm. The entity was to offer loans and process cashier’s checks . It is alleged that Poff falsely attested to his FINRA member firm that he was not involved in any outside business activities.

In 2009, a customer of Poff’s then employer, Chase Investment Services was paid about $38,000 to resolve allegations that Poff failed to follow instructions relating to a variable universal life insurance policy.

Prior to working for Allstate Financial, Poff was employed by LPL Financial, Merrill Lynch and Chase Investment Services. Poff discloses a business affiliation with Ursus Financial Group located in Houston, TX.

If you have questions about  an account handled by Jason Poff call for a no charge consultation with an experienced securities attorney.

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