UBS Financial Services is Also a Defendant in New Class Action Lawsuit If you are a UBS Financial Services customer who invested in the firm’s Yield Enhancement Strategy (UBS YES) at the recommendation of New York financial advisor, William Montgomery Cerf, you are not alone. According to BrokerCheck, William Cerf…
Atlanta Financial Advisor Accused of Using an Unsuitable Options Investment Strategy Michael John Wagner, a longtime Morgan Stanley broker, is currently under scrutiny in the wake of recent customer disputes in which the claimants are requesting over $20M in damages. Based out of Atlanta, Georgia, Wagner has worked in the…
FINRA Said Triad Brokers Unsuitably Recommended LJM Preservation and Growth Fund In December 2021, the Financial Industry Regulatory Authority (FINRA) censured and fined Triad Advisors $195K for allegedly failing to supervise its registered representatives that unsuitably recommended the LJM Preservation and Growth Fund (LJM) to customers. The self-regulatory organization (SRO)…
Two Merrill Lynch Brokers Stole More Than $6M from 13 Clients In December 2021, the Financial Industry Regulatory Authority (FINRA) fined Merrill Lynch in two separate matters. One fine, of $950K, is because the firm allegedly failed to detect that two of its financial advisors had stolen more than $6M…
US Government Reaches Out to GPB Capital Investors Who Were Harmed On December 23, 2021, the US Department of Justice sent a letter to those who have been identified as victims or potential victims of GPB Capital Holdings, LLC‘s more than $1.8B Ponzi scheme. The notice comes in the wake…
Claimants Are Seeking Over $4M in Damages Over UBS YES Strategy If you suffered investment losses while working with UBS Financial Services broker and investment advisor Roderick K. Von Lipsey, you may have grounds for filing a FINRA arbitration claim to recover damages. In the last 2.5 years, between September…
Corpus Christi Financial Advisor is Accused of Negligence, Misrepresentations Our Texas broker misconduct lawyers are looking into claims of losses by customers of Mark Alan Kemp, who is currently a McNally Financial Services registered representative. Mark Kemp, who has been in the industry for 30 years, has been named in…
Founder Faces Charges Over $1.8B Ponzi Scam and Wants GPB Capital to Pay His Legal Fees Beleaguered private equity firm GPB Capital Holdings is back in the news. This time its founder and former CEO, David Gentile, is suing the company in Delaware Chancery Court. Gentile, who is facing criminal,…
Investors Are Seeking Six- to Seven-Figures in Damages If you suffered investment losses while working with former Worden Capital Markets broker Mark Sam Kolta, you may want to explore your legal options with a seasoned securities law firm. Kolta, who worked for 13 years in the industry, has 27 disclosures…
RBC Capital Markets Settlement With FINRA Includes a Fine and Restitution RBC Capital Markets has reached an agreement with FINRA in which the broker-dealer will pay $1M to resolve allegations of overconcentration in customers’ accounts involving high-yield bonds. Without denying or admitting to the self-regulatory organization’s (SRO’s) findings, RBC consented…