Martin Lerner is a stockbroker with David Lerner Associates, Inc. (“David Lerner Associates”) in Boca Raton, Florida, with a history of customer complaints. Martin Lerner has been the subject of six customer complaints, which include one pending dispute and five resolved disputes that ended with monetary compensation being paid to a customer. The pending dispute…
Continue reading ›On May 17, 2021, a FINRA arbitration panel issued an award in favor of customer Donna Wagner in a securities arbitration against Brokers International Financial Services, LLC and former broker Mark Christopher Perry. Brokers International Financial Services and Mr. Perry (the “Respondents”) were held jointly and severally liable for $795,929 in compensatory damages. The Respondents…
Continue reading ›The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker Candido Viyella. from the securities industry. Mr. Viyella was expelled from the brokerage industry for refusing to cooperate with a FINRA investigation. FINRA’s investigation originated after Morgan Stanley discharged Mr. Viyella and disclosed concerns regarding his participation, involvement, and a beneficial ownership interest in an outside…
Continue reading ›The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker Eric Vici. from the securities industry. Mr. Vici was expelled from the brokerage industry for refusing to cooperate with a FINRA investigation that originated from a complaint made to FINRA by the executor of a customer’s estate about his handling of the customer’s funds. Mr. Vici…
Continue reading ›The Financial Industry Regulatory Authority’s Department of Enforcement has filed a disciplinary proceeding complaint against former broker Adam Belardino. The complaint alleges that Mr. Belardino failed to cooperate with a FINRA investigation, which was initiated in Aril 2019 after Mr. Belardino’ s employment was terminated by MML Investors Services, LLC and disclosed (through a Form…
Continue reading ›This post is part of a series of investigative blog posts that spotlight modern-day boiler rooms that operate under the guise of a reputable brokerage firm. Many of the broker-dealers featured in this series still use boiler room tactics such as cold-calling customers and high-pressure or aggressive sales tactics. Other brokerage firms have a propensity…
Continue reading ›You worked hard, opened a brokerage or retirement account, and invested your savings with a financial advisor or stockbroker, only to suffer financial losses due to bad investment advice, misleading sales pitches, or brokers that were driven by commissions. Now what? Can I Sue My Financial Advisor Over Losses? Yes, you can sue your financial…
Continue reading ›The Financial Industry Regulatory Authority (“FINRA”) has suspended financial advisor Constantinos Maniatis from the securities industry for 30 days. Mr. Maniatis consented to the suspension after FINRA alleged that he engaged in discretionary trading without written authorization in seven customer accounts between May 4, 2018, and February 27, 2019. FINRA also fined Mr. Maniatis $5,000.…
Continue reading ›The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker David Martirosian from the securities industry. Mr. Martirosian was expelled from the brokerage industry for refusing to cooperate with a FINRA investigation into potentially unsuitable and excessive trading and his potential participation in private securities transactions while associated with Joseph Stone Capital L.L.C. (“Joseph Stone Capital”).…
Continue reading ›The Financial Industry Regulatory Authority (“FINRA”) has suspended stockbroker Frederick Rock from the securities industry for five months and ordered him to pay a $5,000 fine. FINRA sanctioned Mr. Rock because he solicited clients to purchase $409,200 worth of securities that were not approved by his firm, Pruco Securities LLC. Mr. Rock was a financial…
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