Category Archives: Finra Investigation of Stockbroker

Failure to Cooperate with Regulatory Investigation, Finra Investigation of Stockbroker, Raymond James, Selling Away, Stockbroker Discharged, Stockbroker Malpractice, Unregistered Securities

Mark Tudor-Fired by Raymond James-Barred From Securities Industry-Lake Mary, FL

May 2019, Lake Mary, Florida

According to publicly available records Mark Andrew Tudor  ,  a  former stockbroker who last worked for Raymond James Financial  ,  disclose a recent regulatory event barring him from the securities industry, 3 prior customer disputes, and a discharge 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 2019 FINRA permanently barred Mark Tudor from the securities industry to resolve allegations that he failed to respond to a request for information in connection with a FINRA investigation.

In December 2018 a customer of Raymond James was paid $40,000 to resolve FINRA arbitration 18-03428 alleging that Tudor had recommended a private securities transaction without the approval or knowledge of the firm.

Tudor, who is owner of Tudor Wealth Management,  was employed by Raymond James from 2/2013 until 10/201 when he was discharged for introducing clients to investments away from the firm without approval and for not being helpful when interviewed by Raymond James counsel.

If you have losses in an account handled by Mark Tudor, call to discuss you 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

Borrowing from Customer, Broker borrowing Money from customer, Cambridge Investment Research, Failure to Supervise, FINRA, Finra Investigation of Stockbroker, IFS Securities, Selling Away, Stockbroker Discharged, Stockbroker Malpractice, Theft

Anselmo Contreras, Jr.-Former Cambridge Investment Financial Advisor-Barred From Securities Industry-Angleton, Texas

May 2019 – Angleton, Texas

According to publicly available records, former Cambridge Investment Research  financial advisor Anselmo Contreras, Jr.  discloses a recent regulatory event resulting in his bar from the securities industry 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 4/2019 FINRA permanently barred Contreras from the securities industry to resolve allegations that he misused and converted customer funds. According to FINRA Contreras induced a customer to give him a $10,000 check to invest in a real estate venture which Contreras deposited in his personal account. In addition, FINRA alleges that Contreras borrowed $30,000 from customers of Cambridge Investments without the knowledge or approval of his firm.

Contreras was employed by Cambridge Investment Research from 9/2013 until 1/2018 when he was permitted to resign for failure to report a private securities transaction and settling a customer complaint. Contreras was registered with IFS Securities from 1/2018-4/2019.

If you have losses in an account handled by Anselmo Contreras, Jr. 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

Failure to Supervise, Finra Investigation of Stockbroker, Laidlaw & Company, Stockbroker Malpractice, Unsuitable Investments

Laidlaw & Company Discloses Regulatory Matters & Customer Disputes

May 2019

According to publicly available records  Laidlaw & Company (UK) Ltd.  , a FINRA registered broker dealer discloses 5 prior regulatory events and 2 prior customer arbitrations.

The Financial 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.

The prior regulatory matters include:

  • In May 2018 FINRA censured Laidlaw and assessed a fine of $25,000 to resolve allegations that the firm’s supervisory system related to the recommendation of leveraged and inverse traded funds was inadequate.
  • In February 2012 FINRA censured Laidlaw and assessed a fine of $65,000 to resolve allegations that the firm’s policies and procedures related to the Bank Secrecy Act  were inadequate.

In FINRA arbitration #17-0880 a customer was awarded $297,000 to resolve allegations that Laidlaw failed to properly supervise the management of an account resulting in unsuitable investment recommendations.

Laidlaw & Company

Laidlaw & Company has their main office in London, England, with branch offices in New York City, San Francisco, CA, Boca Raton, FL, Greenwich, CT, Melville, NY and Boston, MA.

According to FINRA records current owners and executive officers are:

  • Laidlaw Holdings, Owner
  • John Coolong, CCO/CFO
  • Matthew Eitner, CEO
  • Michael S. Marino, FINOP
  • Hugh Regan, Director
  • Alex Shtaynberger, National Branch Manager
  • Peter Silverman, SEO/ Branch Manager

If you have questions about an investment account at Laidlaw & Company, contact us for a no charge consultation to learn about 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`

Failure to Supervise, Finra Investigation of Stockbroker, LPL Financial, Stockbroker Discharged, Stockbroker Malpractice, Unsuitable Investments, Viatical Settlements

Scott Klor-Former LPL Financial Advisor-Discloses Regulatory Suspension and Discharge from Employment-Baton Rouge, LA

May 2019 – Baton Rouge, LA

According to publicly available records, former LPL Financial financial advisor Scott P. Klor discloses a recent 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 4/2019, FINA suspended Klor for 14 months and assessed a fine of $5,000 to resolve allegations that Klor solicited investors, including customers of LPL FInancial, to purchase a variable life insurance policy on the life of an elderly individual, an investment prohibited by LPL firm policy. The $1.4 million investment was structured as a viatical settlement and Klor was to receive a 4% interest for structuring the deal.

In 4/2017 Scott Klor was discharged by LPL Financial, where he had been employed since 3/2011, for violation of firm policy.

If you have questions about an investment account handled by Scott P. Klor  contact us for a no charge consultation to learn about your legal 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

Capital Financial Services, Failure to Supervise, Finra Investigation of Stockbroker, Questar Capital Corporation, Stockbroker Discharged, Stockbroker Malpractice, StockBroker Misconduct, Unauthorized Trading, Unsuitable Investments

Steven Knuttila-Former Capital Financial Services Broker-Discloses 2 Regulatory Events, 23 Customer Suits and a Termination-Perham, MN

March  2019 – Perham, MN

According to public records of Steven Roland Knuttila (CRD#3039112)  a  stockbroker previously employed by Capital Financial Services, Inc., disclose 2 regulatory events, 16 pending customer disputes, 23 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 June of 2018 Knuttila consented to the sanction and to the entry of findings that he refused to appear for FINRA on-the-record testimony relating to an investigation into allegations that he made unsuitable recommendations to customers.     As a result of this Knuttila has been permanently been barred from the securities industry by FINRA.

In April of 2018,  a regulatory action was initiated by the state of Minnesota alleging that Knuttila sold unsuitable investments to numerous clients.   Sanctions include a $40,000 in monetary penalties.  

From September 2010 until September 2018, twelve customer disputes were filed by customers of Questar Capital Corporation and Capital Financial Services, Inc. alleging various wrongdoing by Knuttila including  negligence, violations of the MN Uniform Securities Act, common law fraud, misrepresentation, breach of contract, unsuitable recommendations,  and breach of fiduciary duty.   The total paid out to settle these prior customer disputes was in excess of $1.78 million.

There are currently 16 pending customer suits  filed by customers of Questar Capital Corporation and Capital Financial Services, Inc. alleging various wrongdoing by Knuttila, including  unsuitable sales of alternative investments, breach of fiduciary duty, breach of contract, common law fraud, negligent hiring, poor investment advice, fraud, deceit, misrepresentation and omission of facts.   The alleged damages in these cases total more than $1.86 million .

Knuttila was with Capital Financial Services, Inc. from 6/2012-12/2017.   He also is the President and owner of Knuttila Financial Services. Prior to that he was with Questar Capital. In May of 2012, Knuttila was terminated from employment by Questar Capital Corporation after allegations that he failed to follow firm procedures regarding the reporting of customer complaints and he failed to follow firm procedures regarding the use of discretion.  

If you have questions about an account handled by  Steven Knuttila, contact us for a no charge consultation to learn how you may be able to recover damages from his employer 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