The Financial Industry Regulatory Authority (“FINRA”) has barred financial advisor Ryan Ashley Raskin from the securities industry. Ryan Raskin was registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated (“Merrill Lynch”) in Beverly Hills, California, from May 2016 until May 2020. Merrill Lynch terminated Mr. Raskin’s employment on March 4, 2020, alleging that his business…
Continue reading ›The Financial Industry Regulatory Authority (“FINRA”) has suspended financial advisor Arthur Obermeier from the securities industry for 60 days and fined him $5,000. Mr. Obermeier’s sanctions arise from his execution of trades without his customers’ authorization or consent. Arthur Obermeier was registered with LPL Financial LLC in Boulder, Colorado, from June 2002 until his employment…
Continue reading ›FINRA has barred stockbroker Christopher B. Black from the securities industry. FINRA handed down the expulsion because Mr. Black refused to provide information and documents connected with FINRA’s investigation into whether Mr. Black entered into undisclosed loan arrangements with a customer. Mr. Black was a financial advisor at LPL Financial LLC in Statesboro, Georgia, from…
Continue reading ›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 ›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 Drew R. Mantel from the securities industry for three months and fined him $5,000. Drew Mantel was registered with Ameriprise Financial Services, LLC in Miamisburg, Ohio, from March 2018 until November 2018. At that time, Ameriprise terminated his employment. Previously, he was registered with Edward Jones in Franklin, Ohio, from…
Continue reading ›FINRA has barred financial advisor Matthew Jennings (CRD# 6762685) from the securities industry for refusing to cooperate with a FINRA investigation. Mr. Jennings was fired by Edward Jones in August 2019 due to concerns that he introduced clients to investments not offered through the firm. This type of conduct is often referred to as “selling…
Continue reading ›**Update: 3/22/2021** Ms. Cowden has been the subject of two additional customer disputes since November 2020. First, in November 2020, a customer filed a securities arbitration complaint alleging $400,000 in damages concerning a real estate security recommendation. The causes of action included breach of fiduciary duty, unauthorized trading, and elder abuse. Second, in January 2021,…
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