Category Archives: Discretionary Trading

Gerald O’Halloran-Former Kovack Securities Broker-Subject of Florida Securities Regulator Complaint-Punta Gorda, FL

August 2018-Punta Gorda, Florida

The FINRA records of  Gerald J. O’Halloran,  a  previously registered stock broker who was recently employed by  Kovack Securities ,  disclose that he was recently named in an administrative action by Florida Securities Regulators.

In June 2018, the Florida Office of Financial Regulation filed an administrative complaint alleging that O’Halloran failed to observe high standards of commercial honor and equitable principles of trade and failed to report an outside business activity and timely update regulatory records. The complaint seeks a bar from the securities industry and other relief.

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.

O’Halloran’s  FINRA record discloses that a customer of Kovack Securities awarded  over $76,000 by a FINRA arbitration panel to resolve allegations that O’Halloran made unauthorized trades in the customer’s account.

Four other customers were paid cash settlements to resolve allegations that O’Halloran mismanaged their accounts.

O’Halloran  was employed by Kovack Securities from 5/2004-3/2018 and operates Daedalian Financial Services.

If you have losses in an account handled by Gerald J. O’Halloran call for a no charge consultation to discuss your options for recovery of damages.

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

Dominick J. Diorio, Jr.-Aegis Capital Broker-Discloses Settlement of Customer Suit-Melville, NY

June 2018-Melville, New York

The FINRA records of Aegis Capital Corp. broker Dominick J. Diorio, Jr. disclose a pending customer dispute and two 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 FINRA Case 17-2321 a customer of Aegis Capital residing in Florida alleged that from 12/2012-7/2017 Diorio engaged in unsuitable investment strategy involving real estate securities and alternative investments. The case was settled in 5/2018 for $837,500.

In currently pending FINRA Case 18-408 a customer of Aegis Capital alleges that Diorio made unsuitable investment recommendations and traded the account without authority. The customer is seeking damages of $769,690.

Dominick has been employed by Aegis Capital since 7/2011.

If you have questions about an account handled by Dominick Diorio, contact us for a no charge consultation 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

Anthony Sica-Joseph Gunnar Broker-Sanctioned Over Sale of Speculative Securities to Elderly Client-New York

June 2018- New York

The FINRA records of Anthony Sica  , a stock broker who is employed by Joseph Gunnar & Co. , disclose  3 regulatory sanctions, a pending customer dispute and  8 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.

Maryland Sanction for Abusing Account of Elderly Lady

In December 2017, the Maryland Securities Commissioner alleged that Sica repeatedly recommended that an elderly customer, living on fixed income,  purchase high-risk, speculative securities that were inconsistent with her investment profile and which were unsuitable. Sica’s recommendations often resulted in an undue concentration of the her liquid assets in speculative securities resulting in losses of over $150,000. The regulator also found that Sica made unauthorized trades in the IRA account of a customer Sica knew was deceased causing losses. Sica was suspended for three months, fined $20,000 , ordered to pay restitution and to complete continuing education concerning how to deal with senior customers.

Prior customer disputes by customers of Sica include:

  • FINRA Case 14-1574- a customer of Joseph Gunnar alleged unsuitable recommendations, frequent trading, unauthorized trading and sought damages of $479,000. The case was settled for $302,500.
  • FINRA Case 10-969- a customer of Joseph Gunnar alleged that Sica mismanaged his account and made unsuitable recommendations and sought damages of $356,773. The case was settled for $157,500.

In currently pending FINRA Case 17-02160 a customer of Joseph Gunnar alleges unsuitable investments and breach of fiduciary duty from August 2011-March 2015, and is seeking damages of $49,181.

Anthony Sica has been employed by Joseph Gunnar since 10/2003.

Brokers have a duty to make recommendations that are suitable, taking into account the age, health, level of financial sophistication, risk tolerance and investment objectives of the customer.

If you have questions about  an account handled by Anthony Sica, call for a no charge consultation 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

Adam Goodman-Former H.J. Sims Broker-Has Several Customer Complaints-Boca Raton, FL

May 2018- Boca Raton, FL

The FINRA records of  Adam C. Goodman ,  a  registered stock broker who recently left Herbert J. Sims to join Stoever, Glass & Co.  disclose  a pending customer dispute and two prior final 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 12/2017 a customer of Herbert J. Sims was paid #21,000 to resolve allegations that Goodman recommended unsuitable corporate debt investments that resulted in losses.

In 3/2018 a customer of Herbert J. Sims was paid $50,000 to resolve allegations that Goodman made misrepresentations in connetion with an investment in junk bonds and that he traded the account without authorization.

In currently pending FINRA Case 18-01064, a customer of Herbert J. Sims alleges high pressure sales tactics, unsuitable investments, fraud and negligence and is seeking damages of $25,000.

Goodman was employed by Herbert J. Sims   from 8/2010-1/2018  when he left and joined Stoever Glass & Co. 

If you have losses in an account handled by Adam Goodman, call for a no charge consultation to learn about your options for recovery of damages.

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