Articles Posted in Unauthorized Trading

Ex-Mesa, Arizona Financial Advisor Has Been Named in Multiple Customer Disputes

Ex-Raymond James broker, Guilford Ward Nergard, is facing at least one still pending customer dispute in which the claimant is alleging unauthorized trading.

This is not the only time that Nergard has been accused of broker misconduct. He was suspended by the Arizona Corporation Commission Securities Department from April through June 2021 over allegations that he made discretionary trades with customers without the required authorizations. 

Capstone Financial Investment Advisor Barred By FINRA 

David John Melilli, an ex-Cambridge Investment Research stockbroker, was barred by FINRA beginning November 8th, 2021. This came in the wake of allegations that he traded in multiple clients’ accounts without written authorization. This included trading in the account of one deceased person. 

Without denying or admitting to FINRA’s findings, David Melilli consented to the sanctions and the entry of findings that he did not produce the information requested by the self-regulatory organization (SRO). The bar came after Melilli refused to cooperate. 

Contact Information