The Financial Industry Regulatory Authority (“FINRA”) has suspended former Worden Capital Management LLC supervisor Henry Bones II. Mr. Bones consented to a two-month suspension from associating with any FINRA member in all principal capacities after FINRA alleged that he failed to reasonably supervise a former broker, Christopher Orlando, that excessively traded ten customer accounts. Earlier…
Continue reading ›**Update: November 11, 2021** On November 8, 2021, Aegis Capital Corp agreed to pay nearly $2.7 million in sanctions for supervisory failures related to excessive and unsuitable trading by its brokers from July 2014 through December 2018. Click on the following link to read more: Aegis Capital Corp. Ordered to Pay Nearly $2.7 Million for…
Continue reading ›**Update: November 11, 2021** On November 8, 2021, Aegis Capital Corp agreed to pay nearly $2.7 million in sanctions for supervisory failures related to excessive and unsuitable trading by its brokers from July 2014 through December 2018. Click on the following link to read more: Aegis Capital Corp. Ordered to Pay Nearly $2.7 Million for…
Continue reading ›On July 1, 2021, the Financial Industry Regulatory Authority (“FINRA”) and broker Christopher Orlando entered into a Letter of Acceptance, Waiver, and Consent No. 2017056432603 after FINRA alleged that from October 2015 through December 2018, Mr. Orlando excessively traded 13 accounts of 12 customers in violation of Rules 2111 and Rule 2010. The alleged conduct…
Continue reading ›On June 29, 2021, the Financial Industry Regulatory Authority (“FINRA”) and a Joseph Stone Capital L.L.C. stockbroker entered into a Letter of Acceptance, Waiver, and Consent No. 2020066888001 whereby the broker consented to a three-month suspension, $5,000 fine, and to pay $7,653.21 in restitution to a customer. The broker consented to the sanctions after FINRA…
Continue reading ›**Update: April 30, 2022** On November 19, 2021, the FINRA Office of Hearing Officers entered a default decision barring Mr. Giovannelli from associating with any FINRA member firm in any capacity for providing falsified documents and false testimony to FINRA staff and engaging in unauthorized trading in a customer account. For the unauthorized trading, Mr.…
Continue reading ›The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker Marc Lippman from the securities industry. Mr. Lippman consented to the bar after FINRA alleged that he provided false information to FINRA during on-the-record testimony regarding whether he was aware that his customer was deceased at the time of entering a securities transaction in the customer’s…
Continue reading ›The Financial Industry Regulatory Authority’s Department of Enforcement has filed a disciplinary proceeding complaint against financial advisor Marc Reda. The complaint alleges that from January 2017 to December 2019, while associated with Spartan Capital Securities, LLC, Mr. Reda recommended to all of his customers an investment strategy – actively trading in anticipation of corporate announcements…
Continue reading ›The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker Salvatore Pizzimenti from the securities industry. Mr. Pizzimenti was expelled from the brokerage industry for refusing to cooperate with a FINRA investigation related to improper trading in customer accounts while associated with Worden Capital Management LLC in New York. According to a 2017 investigation by Reuters,…
Continue reading ›Philip Connors is a stockbroker with Worden Capital Management LLC (“Worden Capital Management”) in New York, New York. Mr. Connors has a history of customer disputes and a past association with a disreputable brokerage firm that has been expelled by FINRA. If you have lost money with broker Philip Connors or Worden Capital Management, contact…
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