Category Archives: Failure to Cooperate with Regulatory Investigation

Clarence McGill-Former GWN Securities Broker-Barred From Securities Industry by Regulator-Frisco, TX

July 2018- Frisco, Texas

The FINRA records of  Clarence L. McGill ,  a former stock broker who was most recently  employed by GWN Securities  disclose that he was recently 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 July 2018 FINRA permanently barred McGill from the securities industry for refusing to produce information requested by FINRA in connection with its investigation of his possible participation in the sale of unsuitable investment products to customers.

McGill had been employed by GWN Securities  from 4/2014-3/2018. Prior to that he was employed by Fox Financial Management Corp. McGill discloses business affiliations with The McGill Group in Frisco, TX.

If you have questions about an account handled by Clarence McGill or if you believe you were sold unsuitable investmentscall for a no charge consultation.

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

Former Customer of H. Beck Broker Rick Poston-Brings $500K Suit For Unsuitable Investments-Plano, TX

May 2018-Plano, TX 

The FINRA records of  Richard  (“Rick”) E. Poston ,  a  stockbroker who last worked for H. Beck in Plano, TX, discloses a pending customer dispute, 4 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.

In March 2016 a customer of H. Beck filed FINRA Case # 16-0766 seeking $200,000 in damages and alleging that he was sold an unsuitable concentration of illiquid investments in non publicly traded real estate investment trusts (REITs) between 10/2007-9/2015. In July 2016 the case was settled for $185,000.

IN 7/2017 a customer of H. Beck filed FINRA Case 17-1789 alleging that Poston over concentrated their account with high risk, illiquid REITs and business development companies (BDCs) and is seeking damages of $500,000.

Poston was employed by H. Beck from 3/2010 until he was discharged in 12/2015 for failing to cooperate with an internal investigation. Prior to that he worked for a number of other brokerage firms in the Plano area, including LPL Financial.

Unfortunately Mr. Poston passed away suddenly and unexpectedly in March of 2016.

Investors with losses in accounts that were handled by Rick Poston may be able to recover damages through FINRA arbitration, a method of dispute resolution that is typically much shorter in duration and far less costly that court litigation. We typically accept these cases on a contingent fee basis. Call for a no charge consultation.

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

Charlotte Guin-Former J.P. Morgan Securities Broker-Subject of $10M+ Lawsuit-Huffman, Texas

May 2018- Huffman, Texas 

According to FINRA records, Charlotte A. Guin,  a  former stockbroker who was last  employed by J.P. Morgan Securities , disclose  a prior regulatory event a termination from employment and a pending dispute by a former customer who is seeking damages in excess of $10 million.

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 currently pending Case2016-76988, Harris County, Texas, a former J.P. Morgan Securities customer alleges that Guin diverted funds from the clients accounts held at a firm affiliate and that Guin made false loan guarantees and misrepresentations from 2004-March 2015. The customer seeks an amount of damages in excess of $10 million.

In 2015 Guin   entered into a Letter of Acceptance Waiver and Consent (AWC) with the FINRA to resolve allegations that she failed to provide documents and information during the course of a FINRA investigation into allegations that Guin converted the funds of a non-firm customer. Guin agreed to a permanent bar from the securities industry. AWC No. 2015045263801

According to FINRA records, Guin was registered with J.P. Morgan Securities  from 6/2011-4/2015. She was discharged by J.P. Morgan who made the following allegation on her FINRA record: “Employee had potentially recommended an unapproved outside investment to a client that was not disclosed to the firm”

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

Masood (Mike) Azad-Former First Allied Broker-Sanctioned by Securities Regulator-League City, TX

April 2018 -League City, TX

According to FINRA records, Masood (Mike) Husain Azad,  a   former stockbroker who was last employed by First Allied Securities, disclose  a prior regulatory event 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.

In November 2017, FINRA permanently barred Azad from the securities industry to resolve allegations that Azad failed to provide documents and information in connection with a FINRA investigation related to Azad’s alleged participation in an unapproved securities transaction. FINRA Case #2017054623301. 

 

Masood Azad was employed by First Allied Securities from 1/2015-6/2017, when he was discharged. First Allied makes the following allegation in connection with the discharge:“RR violated firm policy relating to borrowing money from clients, engaging in an unapproved private securities transaction and outside business activity”. Azad was employed by Voya Financial from 8/2004-1/2015. Azad discloses business affiliations with Consolidated Working Group, Robertson Wealth Management and American Retirement Solutions.

If you have questions about an account handled by Mike Azad contact us for a no charge consultation 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

Buckman Buckman Reid Broker Ron Ison Barred From Securities Industry

April 2018- Little Silver, New Jersey

Ron Jason Ison , a former stockbroker who last was employed by Buckman, Buckman & Reid, was permanently barred from the securities industry by FINRA for failing to appear at FINRA hearings investigating potential unauthorized and unsuitable trading.

Ison testified before the FINRA investigators on March 15, 2018, for part of the day, then requested an adjournment. FINRA granted the adjournment and set a continuation of the hearing later in the month. Ison’s attorney advised that he would no longer participate in the proceeding resulting in FINRA’s bar from the 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.

Ron Ison’s FINRA record discloses 6 prior customer disputes.

Ison had been employed by Buckman, Buckman & Reid since 1/2010.

If you have questions about an account handled by Ron J. Ison  contact us for a no charge consultation 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