The Financial Industry Regulatory Authority (“FINRA”) has suspended financial advisor John Frederick Griner from the securities industry for 15-business days and fined him $15,000. Mr. Griner’s sanctions arise from his improper use of discretion without written authorization. John Griner was registered with Morgan Stanley in Athens, Georgia from March 2011, until his employment was terminated…
Continue reading ›**Update 4/14/2021** Iorio Altamirano LLP is currently investigating Newbridge Securities Corporation, Money Concepts Capital Corp, and Dustin Shafer for recommending that clients invest in private placement securities issued by GPB Capital. The GPB funds, which are private securities offerings exempt from registration with the Securities and Exchange Commission (SEC), are inherently risky investments. These investments…
Continue reading ›The Financial Industry Regulatory Authority (“FINRA”) has suspended financial advisor Angel Wynette Bardeche (CRD# 4698117) from the securities industry for nine months and fined her $10,000. Ms. Bardeche was also ordered to return $5,000 worth of commissions to customers. Angel Bardeche was registered with Ameriprise Financial Services, LLC in Cincinnati, Ohio, from August 2012 until…
Continue reading ›Investing your money is a great way to grow your wealth, save for retirement, and reach your financial goals. If you invest in the appropriate products, you can also receive income from investments, build on-pre-tax dollars, or reduce taxable income. If you do not invest, you miss out on opportunities to increase your wealth. However,…
Continue reading ›FINRA has suspended financial advisor Paul Zakhary (CRD No. 6399894) from the securities industry for three months and fined him $5,000. FINRA alleged that between January and August 2018, while employed by J.P. Morgan Securities LLC in The Villages, Florida, Mr. Zakhary made unsuitable recommendations to three customers to sell variable annuities and replace them…
Continue reading ›When an investor suffers harm, including investment losses, due to misconduct by a financial advisor or broker-dealer, the investor can file a securities arbitration claim against their financial advisor and/or broker-dealer in an effort to be compensated. The case will be presented and defended in an arbitration proceeding to a panel of arbitrators instead of…
Continue reading ›On December 22, 2020, a FINRA Dispute Resolution Services arbitration panel in Boca Raton, Florida, ordered UBS Financial Services, Inc. to pay a customer $89,675 in compensatory damages. After considering the pleadings, the testimony and evidence presented at the hearing, the arbitration panel concluded that the UBS Yield Enhancement Strategy (“YES”) was not suitable for…
Continue reading ›FINRA has sanctioned Transamerica Financial Advisors, Inc. (“Transamerica Financial”) for its failure to reasonably supervise its financial advisors’ recommendations of three different products – variable annuities, mutual funds, and 529 plans. These recommendations resulted in significant customer harm and financial loss. Transamerica Financial was ordered to pay $4.4 million in restitution to approximately 2,400 affected…
Continue reading ›FINRA has suspended financial advisor Michael Anthony Tavel (CRD #4862463) from the securities industry for 18 months and fined him $20,000. Michael Tavel was a stockbroker at LPL Financial LLC, in Indianapolis, Indiana, from September 2004 until April 2019. He has also been affiliated with Charter Advisory Corporation and Tavel Insurance & Financial Services, LLC.…
Continue reading ›FINRA has suspended financial advisor Timothy James Pandekakes (CRD No. 4890164) from the securities industry for three months and ordered him to pay partial restitution of $20,000. FINRA alleged that between January 2016 and April 2018, while employed by Cadaret, Grant & Co., Inc. in Bronxville, New York, Mr. Pandekakes recommended four unsuitable exchanges of…
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