Tag Archives: stockbroker negligence

Former UnionBanc Investment Services Broker Sanctioned by FINRA

February 23, 2015

Gregory James Bolduc  entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that while registered with UnionBanc Investment Services, he falsified the signatures of six customers on a total of 30 Mutual Fund Customer Disclosure and Acknowledgment forms which he submitted as authentic.

Bolduc was suspended for three months and fined $5,000.

FINRA Case # 2013038783201

According to FINRA records Bolduc was registered with UnionBanc Investment Services from 10/2012-10/2013 and with Securities America from 11/2013-11/2014.

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 Securities America Broker in Gilbert, AZ, Sanctioned by Securities Regulator

February 23, 2015

James Rosebrough  entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he engaged in outside business activities without providing notice to his employer member firm, in violation of FINRA Rules 3270 and 2010.

Rosebrough was suspended for thirty days and fined $5,000.

FINRA Case # 2013038263201

According to FINRA records Rosebrough was previously registered with Securities America and LPL Financial in Gilbert, Arizona.

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

Ascendiant Capital Markets Named in Regulatory Complaint

February 23, 2015

The Financial Industry Regulatory Authority (FINRA) Department of Enforcement filed a complaint against Ascendiant Capital Markets, LLC alleging that they failed to satisfy important supervisory, disclosure and reporting responsibilities by:

  • failing to report a customer complaint to FINRA
  • failing to update the FINRA records for two of its registered representatives who were subjects of regulatory investigations by FINRA

On February 19, 2015, in a separate matter related to their supervisory system,  Ascendiant Capital Markets entered into a letter of Acceptance, Waiver and Consent with FINRA agreeing to a censure and to pay a fine of $52,500. FINRA Case #20130358295-02

Ascendiant Capital Markets has been a FINRA member since 2011 and is based in Irvine, California. They have regional offices located in New York City and Palm Beach Gardens, Florida.

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

North Charleston Investment Advisor Sanctioned by South Carolina Securities Regulator

February 20, 2015- North Charleston, South Carolina

Jesse Clifton Dove and his registered investment adviser company Investment Advisory Center, Inc. entered into a Consent Order with the Securities Commissioner of South Carolina wherein they agreed to cease and desist from violating the South Carolina Uniform Securities Act and to pay a civil penalty of $10,000.

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 Saccomano- Former Source Capital Group Broker-Suspended by Regulator-Westport, CT

Westport, CT

UPDATE APRIL 2017Donald Saccomano was suspended by FINRA in 4/2017 for failing to respond to a FINRA request for information. FINRA records indicate that he ceased working for Source Capital Group 10/2016.

ORIGINAL POST –February 20, 2015

A few months ago, we commenced an investigation of Donald Saccomano, a broker with Source Capital Group on behalf of an elderly couple and last month filed an arbitration against Source Capital Group  for that couple who are seeking damages in excess of $250,000.

The Financial Industry Regulatory Authority (FINRA) initiated a regulatory action against Donald Saccomano on January 7, 2015. Although the full details have not yet been made available, Saccomano’s FINRA record indicates this regulatory matter involves municipal debt , direct investment products, limited partnership interests and allegations of unsuitable investments, misrepresentations and failure to supervise.

The case we recently filed involves a direct investment product, Greenbacker Renewable Energy.  Our elderly clients have made similar allegations that the investments Saccomano sold them  were unsuitable , that he misrepresented the investments and that Source Capital Group failed to supervise Saccomano.  

Source Capital Group was formed in 1994 and has its main office in Westport, Connecticut. They currently have regional offices located in:

  • Scottsdale, AZ
  • West Hartford CT
  • Pearl City, Hawaii
  • Bowling Green, KY
  • Morristown, NJ
  • New York City

In July 2014 they were sanctioned and fined $100,000 in connection with the sale of oil and gas investments Blue Ridge Securities and Argyle Securities.

If you have losses in an account handled by Donald Saccomano,  or with Source Capital contact us to discuss how you may be able to recover damages for your 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