Articles Posted in Broker-Dealers

Shepherd Smith Edwards and Kantas Florida Broker Fraud Attorneys Continue To Investigate Former Merrill Lynch Broker William King

Ex-Vero Beach, FL Financial Advisor Now Has At Least 28 Customer Complaints

For the past year, our seasoned Florida broker fraud attorneys have been looking into claims of investor losses involving William Worthen King, who resigned from Merrill Lynch Pierce, Fenner & Smith after 37 years with the firm. He left after his former customers filed more than a dozen FINRA lawsuits.

Did You Suffer Portfolio Losses While Working With Ex-SagePoint Financial Broker Thomas Corsaro?

Former NY Financial Advisor Sentenced in $1.7M Investment Fraud

Shepherd Smith Edwards and Kantas ( are investigating claims of losses by clients of ex-SagePoint Financial stockbroker Thomas John Corsaro. The former New York financial advisor pleaded guilty to defrauding investors of $1.7 million and was sentenced to two years in prison. He also was ordered to fully pay back those he harmed.

Did You Work With Ex-Stifel Nicolaus Broker Joseph Crespi and Suffer Investment Losses?

As Broker-Dealer Is Ordered to Pay $3.2M, Investors Struggle To Recoup Their Money

Our broker dealer negligence lawyers are speaking to former customers of ex-financial advisor Joseph Crespi to determine whether they have grounds for a FINRA lawsuit against Stifel Nicolaus, which is where he was a registered representative from 2018 to 2022. On May 1, 2023 Massachusetts Secretary of the Commonwealth William Galvin ordered the brokerage firm to pay a $2.5M penalty and over $700K in restitution after finding that it disregarded red flags indicating that Crespi was allegedly engaging in unauthorized trading and charged excessive fees to individual investors, churches, and nonprofit organizations.

Former Morgan Stanley Broker Darryl Cohen Allegedly Defrauded NBA Stars of Over $13M

Our Trusted Broker Fraud Lawyers Are Investigating Claims of Investor Losses

The Shepherd Smith Edwards and Kantas Broker Dealer Negligence Attorney teams ( are continuing to speak to former customers of ex-Morgan Stanley financial advisor Darryl M. Cohen. He was barred from the industry in 2021.

Are You An Investor Who Suffered Losses While Working With a Western International Securities Financial Advisor?

Our FINRA Lawyers Are Investigating Ex-Western International Securities Broker Daniel Beech

Over the past year, Shepherd Smith Edwards and Kantas, a Broker-dealer Arbitration Law Firm, ( have filed FINRA lawsuits on behalf of investors seeking to recover financial losses allegedly caused by the allegedly negligent actions of Western International Securities and a number of its financial advisors. We are also continuing to investigate the brokerage firm and its registered representatives for allegedly unsuitably recommending GWG Holdings L Bonds and other high-risk investments to retail customers and retirees.

SSEK Broker Dealer Negligence Attorneys Helping Northstar Financial Services Investors

Are You A Japanese Investor Whose US-Based Broker Sold You Northstar Financial Services (Bermuda) Products?

Retired Couple Files FINRA Lawsuit Against Bankoh Investment Services and Broker Yoko Farias

Are You an Investor Who Suffered losses in Aegis Capital-Underwritten YayYo IPO?

Broker-Dealer Faces Investor Fraud, Negligence, and Misrepresentation Allegations 

If you are an investor who took part in an initial public offering (SPO) sold by Aegis Capital Corp. and you suffered investment losses, you may want to consider exploring your legal options. Stock IPOs are often marketed by brokerage firms as significant opportunities for investors, but that doesn’t always prove to be the case.

Ex-NPB Financial Group Advisor Has Six Disputes On BrokerCheck Record

If you suffered losses while working with former NPB Financial Group registered representative Neal Edwin Nakagiri, you might have grounds for a Financial Industry Regulatory Authority (FINRA) arbitration claim to pursue damages from the firm. Nakagiri, who has worked for four decades in the industry, has been named in at least six customer complaints. 

According to his LinkedIn, Nakagiri is President and managing owner of NPB Financial Group. He was also a registered broker and investment advisor with the firm from 2006 until March 2022. 

SEC Approves New FINRA Rule That Will Designate Some Brokerage Firms as “Restricted”

The Financial Industry Regulatory Authority (FINRA) rule 4111, which will require certain brokerage firm members with histories of broker misconduct to put aside reserve funds to pay for both future and unpaid investor claims, has now been approved by the Securities and Exchange Commission (SEC).

These broker-dealers will be deemed “restricted” based on numeric thresholds to be determined by the self-regulatory organization (SRO) that involve six conditions including disclosure events involving the firm or its registered individuals, firings, and affiliated registered individuals from broker-dealers that already have been expelled.

San Diego-Based Brokerage Firm Under Scrutiny Over Sierra Income Sales

LPL Financial Holdings (LPLA), the largest independent brokerage firm in the United States, has finalized its acquisition of Lucia Securities, a San Diego-based broker-dealer and registered investment advisor. With over $1.5B in assets, Lucia Securities and its advisors will operate under the name Lucia Capital Group. 

Even prior to the acquisition, our San Diego broker fraud attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm at were investigating Lucia Securities over its sale of Sierra Income Corporation investments to customers. LPL Financial also used to market and sell investments in this nontraded business development company (BDC) to investors but stopped.

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