Tag Archives: International Assets Advisory investment

Michael Polyakov- Westpark Capital Broker-Discloses Customer Disputes – Boca Raton, FL

March 2018 – Boca Raton, FL

According to publicly available records Michael Polyakov(CRD# 734810)  a  stockbroker who is currently employed by Westpark Capital  disclose 3 prior settled 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 13-01037,  a customer of  one of Polyakov’s prior employers, International Assets Advisory,  alleged “wrongful conduct by making unsuitable investments, churning and excessive trading”.   The case was settled for  $72,500.

In NASD Case 3-0376, a customer of former employer Bear, Stearns alleged excessive trading and unsuitable recommendations as well as a failure to adequately explain the risks of trading on margin. That case was settled for $182,500.

Polyakov has been employed with WestPark Capital since January 2016. He was employed by International Assets Advisory from December 2010 to February 2012,  and with Revere Securities Corp. from February 2012 to October 2015 .

If you have questions about an account in an account handled by Michael Polyakov,  contact us for a no charge consultation to discuss your legal options for recovery.

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

Donald L. Watson-Former Jeffrey Matthews Broker- Discloses Discharge from Employment

UPDATE April 2018– IN 3/2017 FINRA permanently barred Donald Lee Watson, Jr. from the securities industry for refusing to cooperate with a FINRA investigation.

November 2016-Sarasota, FL

The FINRA records of  Donald Lee Watson, Jr. ,  a  former stockbroker with Jeffrey Matthews Financial Group,  who is not currently  employed disclose a prior customer dispute that has been resolved and two terminations from employment after allegations.

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.

Watson’s FINRA record discloses that on 1/5/2015 he was discharged by FirstTrust LLC. The company made the following allegations in connection with the discharge: “Disregard for compliance procedures. Failure to repay debt to company. Donald Watson did not comply with requests for personal securities transaction reports and repeatedly violated email compliance protocols. Furthermore, Watson collected a 4-month series of loan payments secured by his personal and unconditional guarantee. He is now disputing the loan and expressing his intent to default.”

His record further discloses that on 12/15/2015, Watson was discharged by The Jeffrey Matthews Financial Group who made the following allegations in connection therewith: “Don Watson (DW) alleged he produced over $700k/yr in gross production at his prior employer. He produced a W2 as evidence to Jeffrey Matthews (JM). JM relied on his assertion adn W-2 as the basis for issuing a corporate advance of $200K. While employed at JM from 9/29/15-12/15/15 DW did not transition any client assets to the firm and had no gross production. DW misrepresented the W2 information as production-related, but JM subsequently learned it was not. In addition, we learned DW’s client spreadsheet presented to JM was also fraudulent.”

Jeffrey Matthews Financial Group filed a FINRA arbitration against Watson seeking recovery of the $200,000 advance plus costs and fees. In November 2016, a FINRA arbitration panel ordered Watson to pay the company $260,000. FINRA Case 16-0548. 

Watson’s prior employment in the securities industry includes:

  • Stifel, Nicolaus & Co.
  • International Assets Advisory
  • PNC Investments
  • LPL Financial
  • UVest Financial Services Group
  • Raymond James Financial Services

If you have losses in an account in an account handled by Donald Watson , contact us to discuss how you may be able to recover damages for those losses.

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

Steven Ridgley, Waddell & Reed Broker, Sanctioned for Unauthorized Trading

March 23, 2016-Louisville, KY

Steven D. Ridgley  entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that  while employed by Waddell & Reed, between January 2013 and January 2015, he exercised discretion in 80 customer accounts without obtaining prior written authority from the customers or his employing firm.

 

AWC No.  20140430257 03

RIdgley was suspended from association with any FINRA member in any capacity for two months and fined $10,000.

FINRA records disclose that Ridgley was discharged from Waddell & Reed on 1/27/2015, with the following comment in the allegations section of the FINRA report: “Use of discretion in multiple client accounts without written authorization in violation of firm’s policies.” 

Ridgley is currently named in a pending customer dispute in which the customer alleges “purchase of closed end fund in May 2013 did not fit within objectives and risk tolerance. Was overconcentrated in the account, and that they continue to pay taxes on the dividends for a product that has lost value.” No damages are specified.

Ridgley is currently registered with International Assets Advisory. His registration with Waddell & Reed was 10/200-2/2015.

If you have losses in an account handled by Steven Ridgley, you may be able to collect damages from his employer.

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

Jeb Bashaw-Former LPL Financial Broker-Discloses $3.8M Customer Suit-Houston Branch Manager

September 2016-Houston, TX

According to publicly available records James Edward Bashaw (“Jeb”)  (CRD#1010228) ,  a  stockbroker who currently is employed by International Assets Advisory  discloses a pending customer dispute, 2 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 currently pending FINRA Case 16-02452 a customer of LPL Financial seeks damages of $3.8 million and alleges unsuitable investments, borrowing from a customer, private securities transactions and failure to supervise with respect to promissory notes and Bashaw’s recommendation to invest in Texas Air Shuttle LLC.

On September 24, 2014, James “Jeb” Bashaw , a former branch manager with LPL Financial LLC was terminated for “Failure to follow firm policies and industry regulations”. According to the Houston Business Journal, his company James E. Bashaw & Co. was ranked 13th largest in Houston with 20 brokers as of April 2014.

After leaving LPL Financial , Bashaw joined Wunderlich Securities in Houston for a few months before joining International Assets Advisory. Wunderlich is relatively new to the Houston area after purchasing Sanders Morris Harris, Inc. in 2012.

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