FINRA Arbitration Claim Was Brought by Mexican Investors Who Trusted US Broker-Dealer To Keep Their Assets Safe A retired couple from Mexico is requesting up to $500K plus interest and costs from J.P. Morgan Securities, LLC over losses they suffered from investing in a Northstar Financial Services (Bermuda) variable annuity. …
Boutique Broker-Dealer Pays Another 7-Figures to Resolve Customer Disputes Independent brokerage firm Purshe Kaplan Sterling Investments, Inc. has agreed to settle another Financial Industry Regulatory Authority (FINRA) arbitration claim with investors. This time, 50 customers had pursued financial recovery from the firm. According to the broker-dealer’s yearly audited financial statement…
FINRA Panel’s Ruling is UBS Financial’s Third Loss Involving Yield Enhancement Strategy In a Financial Industry Regulatory Authority (FINRA) arbitration ruling, UBS Financial Services (UBS) must pay an Ohio couple $371K for financial losses they sustained from the brokerage firm’s Yield Enhancement Strategy (YES). This is the third UBS Yes…
Integration Instigated After Advisor Group’s Acquisition of Ladenburg Thalman Securities America, which is a broker-dealer of the Advisor Group network, has completed integrating brokerage firms Investacorp, KMS Financial Securities, and Securities Services Network into its fold. All four were Ladenburg Thalman broker-dealers until Advisor Group acquired Ladenburg and its firms…
Unsuitability Involving Private Placements Alleged Our unsuitable investment fraud attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) are looking into customer complaints involving SagePoint Financial stockbroker, Christopher R. Bice. His BrokerCheck record shows a number of pending investment fraud claims including at least two customer disputes…
Investors Can Still Pursue Damages from Bankoh, Truist, and Ocean Financial Services The Bermuda Supreme Court has turned down a request by Northstar Financial Services (Bermuda) Ltd.’s management asking for more time to pursue restructuring. Northstar had filed for Chapter 15 bankruptcy last year. The Court’s ruling means that the…
Claimant Alleges Overconcentration, Unsuitability, Failure to Supervise A Portland, Oregon semi-retiree has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Western International Securities, Inc. and is seeking up to $500K in damages. The investor contends that a former financial advisor from the firm overconcentrated most of her retirement…
Bankoh Investment Services Investors May Have Lost Up to $70M in Northstar Bermuda Products Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) is continuing to speak to investors who suffered losses in Northstar Financial Services (Bermuda) products that were sold to them by Bankoh Investment Services brokers. The…
FINRA Suspended Ex-Iowa Stockbroker in 2018 For Selling Away John Michael Krohn, a former Iowa broker with Principal Securities, is named in three customer disputes in which the claimants are collectively pursuing over $39.2M in damages for losses they sustained while working with him. The investors contend that Krohn engaged…
Broker-Dealers Collectively Will Pay $550K Fine and Over $3.3M in Restitution The Financial Industry Regulatory Authority (FINRA) has fined and censured three brokerage firms after finding that they failed to supervise recommendations of the LJM Preservation and Growth Fund (LJMIX, LJMCX, LJMAX) and did not conduct the proper due diligence…