Cetera Advisors Fraud Case Rises To $21M Two months after suing Cetera Advisors for more than $10M for allegedly defrauding retail clients, the US Securities and Exchange Commission (SEC) has amended its complaint, adding another Cetera Financial Group firm as a defendant. The regulator is now seeking $21M. According to…
SSEK Investigating Centaurus Financial Brokers Our brokerage firm misconduct lawyers at Shepherd Smith Edwards and Kantas, LLP (SSEK Law Firm) are representing investors who were sold structured certificates of deposits (CDs) by Centaurus Financial brokers Cindy Chiellini and Ricky Mantei. Both work out of Lexington, South Carolina and are the…
SSEK Investigating The Ex-Morgan Stanley Broker, Ami Forte Earlier this year, our investor lawyers reported that the Financial Industry Regulatory Authority (FINRA) had filed a lawsuit against former Morgan Stanley broker, Ami Forte. She allegedly made unauthorized trades in the now-deceased Home Shopping Network co-founder, Roy Speer’s, account while he…
Four Stifel, Nicolaus & Co. (SF) clients were awarded $1.5M in compensatory damages in their Financial Industry Regulatory Authority (FINRA) arbitration case against the brokerage firm. According to AdvisorHub, the claimants are accusing the broker-dealer of not properly supervising Stifel Nicolaus broker Kenneth D. Blumberg, who they contend invested up…
Cleveland, Ohio Shepherd, Smith, Edwards & Kantas (“SSEK”), a law firm specializing in representing wronged investors, is looking at allegations by FINRA into former Linsco Private Ledger (LPL) financial advisor, Jeffery Vasiloff (“Vasiloff”). Vasiloff worked at LPL in 2018 and was not employed very long. Vasiloff was fired, according to…
Misconduct Accusations Against Ex-Morgan Stanley Brokers Broker Misconduct Case #1: John Tillotson The Financial Industry Regulatory Authority (FINRA) has suspended ex-Morgan Stanley broker, John Tillotson, for 15 days and ordered him to pay a $5K fine after finding that he impersonated five clients during phone calls to a mutual fund…
Shepherd, Smith, Edwards & Kantas (“SSEK”), a law firm specializing in representing wronged investors, is looking into allegations made by FINRA in a recent AWC filing against Booth. In February 2018 LPL acquired INVEST. Booth had been working at INVEST since 2005 and has been a broker since 1988. In…
Jason Nelson, an ex-LPL Financial broker (LPLA), is now barred by the Financial Industry Regulatory Authority (FINRA). The bar comes after Nelson refused to participate in the self-regulatory organization’s (SRO) probe into his sales activities. LPL fired Nelson early last year after finding that he misrepresented customer financial information related…
A Financial Industry Regulatory Authority (FINRA) arbitration panel is ordering Morgan Stanley (MS) to pay a claimant $454,813 for retirement fund mismanagement. The claimant is The Carpenter Law Firm Defined Benefit Plan. The Carpenter Law Firm is based in Iowa. According to the FINRA award, the law firm contends that…
The Financial Industry Regulatory Authority (FINRA) has suspended former Securities America broker Michael D. Jackson for six months following allegations that he traded options in one client’s account without telling the brokerage firm. Securities America has since fired Jackson. According to the self-regulatory authority (SRO), in 2016, the ex-Securities America…