#investorsrights - Law Offices of Robert Wayne Pearce

Feb 3, 2021

Coral Springs, Florida FINRA Securities Arbitration Attorney

Did Michael Kris Pina Cause You Investment Losses? Michael Kris Pina of Coral Springs, Florida was fined $10,000, suspended from association with any FINRA member in all capacities for 16 months and ordered to pay $19,800 in restitution to customers. The sanctions were based on findings that he borrowed money from customers and provided false statements to FINRA in violation of FINRA Rules 8210, 3240 and 2010. The suspension is in effect from October 5, 2020, through February 4, 2022. In January 2013, Michael Kris Pina joined PFS and was registered as an Investment Company and Variable Contracts Products Representative. The firm later filed a Uniform Termination Notice (Form U5) disclosing that Pina had been terminated due to the alleged misconduct. According to the FINRA findings, Pina allegedly borrowed $72,000 from four customers which was against firm policies. The findings stated that Pina had allegedly failed to document the loans and only repaid two customers after promising all four that he would repay them with interest. In addition, Pina falsely attested that he had not borrowed money from any customer on his firm’s annual compliance questionnaires and allegedly failed to disclose a loan and the amount owed to FINRA. FINRA Rule 3240 prohibits a registered person from borrowing money from his or her customer unless: (1) the registered person’s employing member firm has written procedures permitting borrowing from customers; and (2) the borrowing arrangement meets at least one of five circumstances specified in the rule. Even if these requirements are satisfied, the registered representative must seek and obtain prior written approval of the loan from the member firm, except that the firm’s procedures may provide otherwise where the customer is a financial institution or a member of the representative’s immediate family. A violation of FINRA Rule 3240 also violates FINRA Rule 2010, which requires associated persons “to observe high standards of commercial honor and just and equitable principles of trade.” Do you need a Florida FINRA Securities Arbitration Attorney? Are you a Coral Springs, Florida investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Florida stockbroker or investment advisor misrepresent facts, fail to disclose facts making the statements made false and misleading, recommend unsuitable investments or strategies, excessively trade or churn, mismanage your investment account or engage in other kinds of stockbroker misconduct? If so, you need representation by an experienced, highly-rated and nationally recognized FINRA securities arbitration attorney—a lawyer who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration cases as well as other complex legal issues. Free Initial Consultation With Experienced FINRA Securities Arbitration Attorneys Serving Coral Springs, Florida Residents In FINRA Arbitration Proceedings At The Law Offices of Robert Wayne Pearce, P.A. we represent investors in all kinds of securities, commodities and investment law disputes in FINRA, AAA and JAMS arbitration and mediation proceedings. Attorney Pearce and his staff represent investors throughout Florida, and across the United States on a CONTINGENCY FEE basis which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español For dedicated representation by Attorney Pearce with over 40 years of experience and success in all kinds of securities, commodities and investment law disputes serving Florida citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Feb 3, 2021

Long Beach, New Jersey Lawyer Who Sues Stockbrokers For Unsuitable Investment Recommendations

Did Michael Rubel Cause You Investment Losses? Michael Rubel of Long Beach, New Jersey submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which he was suspended for a period of 45 days. The sanction was based on findings that he allegedly engaged in unsuitable trading in violation of FINRA Rules 2111 and 2010. The suspension was in effect from October 5, 2020, through November 18, 2020. In June 2015, Michael Rubel joined Capitol Securities Management, Inc. and was registered as a General Securities Representative. The firm later filed a Uniform Termination Notice (Form U5) disclosing that Rubel had resigned. According to the FINRA findings, Michael Rubel allegedly recommended to customers that they roll over unit investment trusts (UIT’s) 100 days prior to maturity and to sell them after holding them for only 244 days, using the proceeds to purchase a new UIT. The findings also stated that the purchase of the new UIT series were unsuitable because they generally had the same or similar objectives as the prior series, which caused his customers to incur unnecessary sales charges. In addition, FINRA stated that the customers received reimbursement in connection with a settlement with the firm. FINRA Rule 2111(a) provides in pertinent part that “[a] member or an associated person must have a reasonable basis to believe that a recommended transaction or investment strategy involving a security or securities is suitable for the customer, based on the information obtained through the reasonable diligence of the member or associated person to ascertain the customer’s investment profile.” Recommended securities transactions may be unsuitable if, when taken together, they are excessive, the level of trading is inconsistent with the customer’s investment profile, and the registered representative exercises control over the customer’s account. No single test defines when trading is excessive, but factors such as the turnover rate and the cost-to-equity ratio are considered in determining whether a member firm or associated person has violated FINRA’s suitability rule. Do you need a New Jersey FINRA Securities Arbitration Attorney? Are you a Long Beach, New Jersey investor who has suffered significant losses in your stock brokerage and investment accounts? Did they recommend unsuitable securities transactions or strategies? Suitability claims can be based upon the stockbroker or investment advisor’s fiduciary duty, duty to use reasonable care, or FINRA Rule 2111. If you believe that your stockbroker or investment advisor made unsuitable recommendations, you need a skilled securities arbitration attorney who knows all the investments, investment strategies and stockbroker tricks of the trade. Free Initial Consultation With Experienced Lawyers Serving Long Beach, New Jersey Residents in FINRA Securities Arbitrations Involving Unsuitable Investment Claims At The Law Offices of Robert Wayne Pearce, P.A. we represent investors in all kinds of securities, commodities and investment law disputes in FINRA, AAA and JAMS arbitration and mediation proceedings. Attorney Pearce and his staff represent investors throughout New Jersey, and across the United States on a CONTINGENCY FEE basis which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español For dedicated representation by Attorney Pearce with over 40 years of experience and success in all kinds of securities, commodities and investment law disputes serving New Jersey citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Feb 3, 2021

San Francisco, California Failure to Supervise Stockbroker Attorney

Did SeedChange Execution Services Inc. Cause You Investment Losses? SeedChange Execution Services Inc. of San Francisco, California was censured and fined $15,000 for allegedly failing to establish, maintain and enforce their supervisory system and written supervisory procedures as to whether their registered representatives proposed outside business activities or constituted outside securities activities. Due to the misconduct, the firm was in violation of FINRA Rules 3110, 3270, and 2010. Since 2013, SeedChange has been a FINRA member firm and employs approximately 20 registered representatives. According to the FINRA findings, from November 2017 to March 2018, SeedChange had allegedly failed to properly evaluate a registered representatives disclosed outside business activity. The findings stated that the representative raised approximately $525,000 for the investment fund and received a management fee for his work. FINRA stated that although SeedChange was aware of the representatives activities, they did not have any written supervisory procedures to evaluate any factors to determine certain restrictions, prohibit outside business activities or whether it should have been treated as an outside business activity. FINRA Rule 3110(a) requires firms to establish and maintain a system to supervise the activities of registered persons. FINRA Rule 3110(b) requires firms to establish, maintain, and enforce written procedures to supervise the types of businesses it engages in and the activities of its registered persons. Both the supervisory system and the written procedures must be reasonably designed to achieve compliance with applicable rules. FINRA Rule 3270 prohibits registered persons from engaging in any outside business activities unless they provide prior written notice to the member firm. Do you need a California FINRA Securities Arbitration Attorney? Are you a San Francisco, California investor who has suffered significant losses in your stock brokerage and investment accounts? Did your California stock brokerage or investment advisory firm where you do business fail to supervise the stockbroker who recommended bad investments and otherwise mismanage your investment account? If so, you will need to hire an experienced, highly-rated, and nationally recognized FINRA securities arbitration attorney—a lawyer who knows how to handle these failure to supervise cases as well as other complex legal issues. Free Initial Consultation With Attorneys Experienced In Failure to Supervise Stockbroker Disputes Serving San Francisco, California Residents In FINRA Arbitrations At The Law Offices of Robert Wayne Pearce, P.A. we represent investors in all kinds of securities, commodities, and investment law disputes in FINRA, AAA and JAMS arbitration and mediation proceedings. Attorney Pearce and his staff represent investors throughout California, and across the United States on a CONTINGENCY FEE basis which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español For dedicated representation by Attorney Pearce with over 40 years of experience and success in all kinds of securities, commodities, and investment law disputes serving California citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Feb 3, 2021

Irvine, California Lawyer Who Sues Stockbrokers For Selling Away (Selling Unauthorized Investments)

Did Tony A. Kassaei Cause You Investment Losses? Tony A. Kassaei of Irvine, California submitted a Letter of Acceptance, Waiver and Consent to the Financial Industry Regulatory Authority in which he was barred from association with any FINRA member in all capacities. The sanction was based on findings that he participated in undisclosed and unapproved private securities transactions and failing to comply with requests from FINRA in violation of NASD Rule 3040 and FINRA Rules 8210 and 2010. In 2009, Tony A. Kassaei joined J.P. Turner & Company LLC and was registered as a General Securities Principal and General Securities Representative. The firm later filed a Uniform Termination Notice (Form U5) due to misconduct. According to the FINRA findings, Kassaei participated in at least 11 investors’ securities transactions without his firms approval, totaling at least $2.6 million. The findings stated that the investors lost a total of $1.3 million while Kassaei was compensated for soliciting and facilitating these private securities transactions. In addition to the findings, FINRA began an investigation regarding Kassaei’s involvement in the transactions and sent a request for information and an on-the-record testimony, which he initially appeared for but refused to answer or reappear for further questioning. Although Kassaei is no longer registered or associated with a FINRA member firm, he remains subject to FINRA’s jurisdiction. NASD Rule 3040 prohibits associated persons from participating “in any manner” in private securities transactions outside the regular course or scope of their employment unless they first provide written notice to the member firm with which they are associated. The written notice must describe in detail the proposed transaction, the person’s proposed role in the transaction, and whether the person has received or may receive selling compensation in connection with the transaction. Associated persons who violate NASD Rule 3040 also violate FINRA Rule 2010, which requires associated persons to observe high standards of commercial honor and just and equitable principles of trade. FINRA Rule 8210(a)(1) states in relevant part that FINRA has the right to “require a person associated with a member, or any other person subject to FINRA’s jurisdiction to provide information orally, in writing, or electronically and to testify at a location specified by FINRA staff, with respect to any matter involved in the investigation[.]” FINRA Rule 8210(c) provides that “[n]o member or person shall fail to provide information or testimony or to permit an inspection and copying of books, records, or accounts pursuant to this Rule.” Do you need a California FINRA Securities Arbitration Attorney? Did your California stockbroker or investment advisor recommend an investment that turned out to be an investment that was never reviewed or approved by their stockbrokerage firm employer? The stockbrokers who stoop to that level are usually insolvent or uncollectible. And so, the investor’s only recourse is against the brokerage firm employer. But stockbrokerage firms always claim ignorance of the stockbroker’s activities and deny liability for the sale of unauthorized investments which they call Selling Away as if that was an absolute defense. Not so! You will definitely need an experienced attorney who knows the securities laws and how to hold the stockbrokerage firm responsible for their employees Selling Away under legal principles of actual authority, apparent authority, estoppel and failure to supervise. If your attorney knows where to look he/she can often find Red Flags of the alleged unauthorized sales that the firm did not look for, missed, or saw and just ignored. Free Initial Consultation With Experienced Ponzi Scheme Lawyers Representing Irvine, California Residents in FINRA Arbitrations At The Law Offices of Robert Wayne Pearce, P.A. we represent investors in all kinds of securities, commodities, and investment law disputes in FINRA, AAA and JAMS arbitration and mediation proceedings. Attorney Pearce and his staff represent investors throughout California, and across the United States on a CONTINGENCY FEE basis which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español For dedicated representation by Attorney Pearce with over 40 years of experience and success in all kinds of securities, commodities, and investment law disputes serving California citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Feb 2, 2021

Tulsa, Oklahoma Stockbroker Fraud Attorney

Did Richard Foster Cause You Investment Losses? Richard Foster, a former registered representative with Cetera Investment Services LLC (Cetera) submitted a Letter of Acceptance, Waiver and Consent (AWC) in which he received a suspension and was assessed a deferred fine of $10,000 by the Financial Industry Regulatory Authority (FINRA) for making an unsuitable recommendation that his customer liquidate his IRA to be utilized in a high-risk options trading strategy. According to FINRA’s findings, Richard Charles Foster of Tulsa, Oklahoma, recommended his customer place his entire IRA assets into a high-risk, unsuitable options trading strategy. Mr. Foster allegedly received authorization from his member firm to operate an income fund by falsely stating to the firm that the fund would not involve any customers. FINRA found that Mr. Foster recommended his customer liquidate his IRA worth $169,000 to invest in the income fund account. The income fund account lost tremendous value due to trading losses and commission costs relating to the high-volume ETF option trading strategy. FINRA’s findings stated that once Mr. Foster’s customer learned he had sustained an $81,000 tax penalty due to the early IRA liquidation, he asked Mr. Foster to return the remainder of his funds to pay the penalty. Mr. Foster, without admitting or denying FINRA’s allegations, was assessed a deferred fine of $10,000 and received a suspension from associating with any FINRA member for six months. Do You Need A Stockbroker Fraud Attorney? Oklahoma has hundreds of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisory offices, comes the potential for their stockbrokers, financial advisors, and other representatives to engage in one or more kinds of stockbroker fraud. They could make misrepresentations about investing in securities (stocks, bonds, options, mutual funds, REITs, Junk Bonds, Hedge Funds, Structured Products, etc.) they are selling. Unsuitable recommendations of the strategies they recommend (margin, short selling, option) is another kind of stockbroker fraud. They can engage in many other kinds of stockbroker fraud and stockbroker misconduct which violates Federal and Oklahoma securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures. Experienced Stockbroker Fraud Lawyers Who Handle FINRA Arbitrations Throughout Oklahoma and Nationwide. Are you an Oklahoma investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Oklahoma stockbroker or investment advisor, misrepresent facts about the securities, investments or strategies they were recommending or otherwise mismanage your investment account? If so, you need representation by an experienced, highly-rated and nationally recognized FINRA arbitration lawyer — an attorney who knows FINRA rules and procedures and how to handle these FINRA arbitration cases as well as other complex legal issues. By hiring a top rated stockbroker fraud attorney like Robert Wayne Pearce with over 40 years of experience on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and is one of the best securities attorneys to recover your investment losses for all types of stockbroker fraud and stockbroker misconduct in FINRA arbitration proceedings! At The Law Offices of Robert Wayne Pearce, P.A., we represent investors with securities misrepresentation claims and many other kinds of securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areas besides securities misrepresentation and stockbroker fraud claims such as stockbroker breach of fiduciary duty, stockbroker negligence, failure to supervise stockbrokers, and unsuitable recommendations by stockbrokers. Attorney Pearce and his staff represent investors throughout Oklahoma, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español Free Initial Consultation With An Experienced Stockbroker Fraud Lawyer Serving Oklahoma Residents in FINRA Arbitrations The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle securities misrepresentation, stockbroker fraud, stockbroker misconduct and other investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by an attorney with over 40 years of experience and success in all kinds of securities law and investment disputes in FINRA arbitrations serving Oklahoma citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Feb 2, 2021

Oklahoma City, Oklahoma Securities Arbitration Attorneys Who Represent Investors

Did Jamie David Pope Cause You Investment Losses? Jamie David Pope, a former registered representative with Oklahoma City, Oklahoma-based Wilbanks Securities, Incorporated (Wilbanks) consented to, but did not admit to or deny, the entry of the Financial Industry Regulatory Authority’s (FINRA) sanction and findings that he converted a customer’s funds for his personal use. According to FINRA, Jamie Pope, of Winter Park, Florida, was allegedly provided with checks totaling $60,000 by a Wilbank’s customer for the express purposes of investing in one of Mr. Pope’s outside business activities and to purchase real estate in Montana. FINRA found that Mr. Pope represented to the investor customer that the entirety of the money would be used for the intended purposes. However, Mr. Pope deposited the funds into his personal checking account and converted at least $13,197 to pay for his personal expenses, according to FINRA’s findings. Consequently, Jamie Pope was permanently barred from association with any FINRA member in any capacity. Do You Need Securities Arbitration Attorneys Who Represent Investors? We are top rated securities arbitration attorneys and highly ranked lawyers by our peers in Martindale Hubble and Thomson Reuters SuperLawyers who represent investors in securities arbitrations conducted by the Financial Industry Authority (FINRA), American Arbitration Association (AAA) and JAMS alternative dispute resolution forums serving Oklahoma investors. This state has hundreds of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisor offices, comes the potential for their stockbrokers, financial advisors, and other representatives to engage in all kinds of stockbroker misconduct which violates Federal and Oklahoma securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms’ policies and procedures. Experienced Securities Arbitration Lawyers Who Handle FINRA, AAA Or JAMS Arbitrations Throughout Oklahoma And Nationwide. Are you an Oklahoma investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Oklahoma stockbroker or investment advisor, misrepresent facts, fail to disclose facts making the statements made false and misleading, recommend unsuitable investments or strategies, excessively trade or churn or otherwise mismanage your investment account? Depending upon the terms of your arbitration agreement you will need to have representation from an experienced, highly-rated and nationally recognized FINRA, AAA or JAMS arbitration securities law attorney—an attorney who knows the FINRA, AAA or JAMS rules and procedures inside and out and how to handle these FINRA, AAA or JAMS arbitration cases and other complex legal issues. By hiring a top rated attorney like Robert Wayne Pearce with over 40 years of experience practicing securities law on both sides of the table in FINRA, AAA and JAMS arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and is one of the best securities arbitration attorney to recover your investment losses for all types of stockbroker misconduct in FINRA, AAA and JAMS arbitration proceedings! At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in all kinds of securities law and investment disputes in FINRA, AAA and JAMS arbitration and mediation proceedings. We handle a wide range of practice areas such as fraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations. Attorney Pearce and his staff represent investors throughout Oklahoma, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español Free Initial Consultation With An Experienced FINRA, AAA and JAMS Securities Arbitration Attorneys Serving Oklahoma Residents The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle securities law matters and investment disputes in FINRA, AAA and JAMS arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by an attorney with over 40 years of experience and success in all kinds of securities law and investment disputes in FINRA, AAA and JAMS arbitrations serving Oklahoma citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Feb 2, 2021

Carrollton, Ohio Securities Account Forgery Attorney

Did William Kerschbaumer Cause You Investment Losses? William Kerschbaumer, a broker formerly employed by the Carrollton, Ohio branch of Allstate Financial Services, LLC, submitted an AWC to FINRA for allegedly forging two customers’ signatures without their knowledge or consent. William Fredrick Kerschbaumer Jr. was found by FINRA to have forged the signatures of two customers on four documents which were related to their annuity investments. FINRA’s findings state that Mr. Kerschbaumer forged a customer’s signature on two variable annuity distribution forms and, approximately three months later, again forged the same customer’s signature on a letter requesting restoration of a rider to an annuity investment without the customer’s knowledge or consent. Further, FINRA found that Mr. Kerschbaumer forged the signature of a second customer on a letter to the firm requesting a distribution from the IRA account of the customer’s ex-husband, once again without the customer’s knowledge or consent. Consequently, FINRA assessed Mr. Kerschbaumer a deferred fine of $12,500 and suspended him from association with any FINRA member in any capacity for one year. Do You Need A Securities Account Forgery Attorney? Ohio has thousands of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisory offices, comes the potential for their stockbrokers, financial advisors, and other representatives to engage in forgery in opening your account and/or transferring cash and/or securities out of your account and all kinds of other stockbroker misconduct which violates Federal and Ohio securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures. Experienced Lawyers With Securities Account Forgery Claims In FINRA Arbitrations Throughout Ohio and Nationwide. Are you an Ohio investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Ohio stockbroker or investment advisor forge your signature or alter information on account opening documents about your investment objectives, risk tolerance or financial condition to make unsuitable recommendations or otherwise mismanage your investment account? If so, you will need to have representation from an experienced, highly rated and nationally recognized FINRA arbitration securities forgery law attorney—an attorney who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration forgery cases and other complex legal issues. By hiring a top rated attorney like Robert Wayne Pearce with over 40 years of experience in forgery cases by practicing securities law on both sides of the table and handling forgery cases in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle forgery cases—he aggressively represents investors and is one of the best attorneys to recover your investment losses resulting from forged documents to withdraw funds, allow unauthorized persons to access your accounts, to make unsuitable recommendations to appear suitable and all types of stockbroker misconduct in FINRA arbitration proceedings! At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in all kinds of securities law and investment forgery disputes in FINRA arbitration and mediation proceedings. We also handle a wide range of practice areas such as fraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations. Attorney Pearce and his staff represent investors throughout Ohio, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español Free Initial Consultation With An Experienced Securities Account Forgery Attorneys Serving Ohio Residents In FINRA Arbitrations The Law Offices of Robert Wayne Pearce, P.A. are highly experienced attorneys who successfully handle securities account forgery cases and other securities law matters and investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by a lawyer with over 40 years of experience and success in securities account related forgeries and all kinds of securities law and investment disputes serving Ohio citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Feb 2, 2021

El Paso, Texas Securities Arbitration Attorneys Who Represents Investors

Did Steven Tarasius Yellen Cause You Investment Losses? Steven Tarasius Yellen of El Paso, Texas submitted a Letter of Acceptance Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) for allegedly utilizing discretion and engaging in unauthorized trading thereby violating NASD Rule 2510(b) and FINRA Rules 4511 and 2010. Steven Tarasius Yellen was registered with Morgan Stanley as a General Securities Representative when FINRA alleged he exercised discretion in a customer’s account without written consent or acceptance of the account as discretionary and engaged in unauthorized trading. FINRA found that Mr. Yellen opened a second account for the same customer without knowledge and transferred $30,000 from the original account to execute two unauthorized transactions. The firm settled with the customer and terminated Mr. Yellen, filing a Uniform Termination Notice for Securities Industry Registration (“Form U5”). In March 2016, Mr. Yellen registered with Ameriprise Financial Services. FINRA found, while at this firm, he again engaged in unauthorized trading by entering 16 trades for 10 customers beyond the option trading risk levels. According to FINRA, Mr. Yellen caused this firm’s books and records to be incorrect by mismarking “solicited” options order tickets as “unsolicited” to bypass the firm systems that blocked him. FINRA later found that before accepting employment from Ameriprise, Mr. Yellen sent personal information of Morgan Stanley customers without knowledge or consent, to his own email, in violation of the firm’s policy. As a result, Mr. Yellen caused Morgan Stanley to violate its obligations under Regulation S-P. Steven Tarasius Yellen, without admitting or denying FINRA’s findings, was fined $25,000 and suspended from association with any FINRA member in all capacities for one year. Do You Need a Securities Arbitration Attorney? We are top rated securities arbitration attorneys and highly ranked lawyers by our peers in Martindale Hubble and Thomson Reuters SuperLawyers who represent investors in securities arbitrations conducted by the Financial Industry Authority (FINRA), American Arbitration Association (AAA) and JAMS alternative dispute resolution forums serving Texas investors. This state has thousands of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisor offices, comes the potential for their stockbrokers, financial advisors, and other representatives to engage in all kinds of stockbroker misconduct which violates Federal and Texas securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms’ policies and procedures. Experienced Securities Arbitration Lawyers Who Handle FINRA, AAA Or JAMS Arbitrations Throughout Texas And Nationwide. Are you a Texas investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Texas stockbroker or investment advisor, misrepresent facts, fail to disclose facts making the statements made false and misleading, recommend unsuitable investments or strategies, excessively trade or churn or otherwise mismanage your investment account? Depending upon the terms of your arbitration agreement you will need to have representation from an experienced, highly-rated and nationally recognized FINRA, AAA or JAMS arbitration securities law attorney—an attorney who knows the FINRA, AAA or JAMS rules and procedures inside and out and how to handle these FINRA, AAA or JAMS arbitration cases and other complex legal issues. By hiring a top rated attorney like Robert Wayne Pearce with over 40 years of experience practicing securities law on both sides of the table in FINRA, AAA and JAMS arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and is one of the best securities arbitration attorney to recover your investment losses for all types of stockbroker misconduct in FINRA, AAA and JAMS arbitration proceedings! At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in all kinds of securities law and investment disputes in FINRA, AAA and JAMS arbitration and mediation proceedings. We handle a wide range of practice areassuch asfraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations. Attorney Pearce and his staff represent investors throughout Texas, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español Free Initial Consultation With An Experienced FINRA, AAA and JAMS Securities Arbitration Attorneys Serving Texas Residents The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle securities law matters and investment disputes in FINRA, AAA and JAMS arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by an attorney with over 40 years of experience and success in all kinds of securities law and investment disputes in FINRA, AAA and JAMS arbitrations serving Texas citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Feb 2, 2021

Cincinnati, Ohio Securities Account Theft Lawyer

Did Janet Louise Frakes Cause You Investment Losses? Janet Louise Frakes, a former broker at Cincinnati, Ohio based Fifth Third Securities, Inc., submitted a Letter of Acceptance, Waiver and Consent in which she agreed to, without admitting or denying, the described penalty and the entry of the Financial Industry Regulatory Authority’s (FINRA) findings that she misappropriated more than $100,000 from the account of an elderly customer and $16,000 from another elderly customer’s account at a bank. According to FINRA, Ms. Frakes perpetrated the misappropriation of the customers’ money partially by means of submitting fake withdrawal slips. Ms. Frakes falsely signed a customer’s withdrawal slips as power of attorney (POA) on file. The bank had no record of a POA on file for the account. Additionally, FINRA sent a request to Ms. Frakes for, among other things, a signed statement responding to the misappropriation allegations. Ms. Frakes’ attorney replied to FINRA by letter, refusing to provide a written statement. Ms. Frakes of Independence, Kentucky was prohibited from association with any FINRA member in any capacity. Do You Need A Securities Account Theft Lawyer? Ohio has thousands of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisory offices, comes the potential for their stockbrokers, financial advisors, and other representatives to transfer cash and/or securities out of your account, that is steal or commit theft and all kinds of other stockbroker misconduct which violates Federal and Ohio securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures. Experienced Attorneys With Securities Account Theft Claims In FINRA Arbitrations Throughout Ohio and Nationwide. Are you an Ohio investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Ohio stockbroker or investment advisor transfer assets without your authority to the stockbroker or another party, steal, or otherwise commit theft in your investment account? If so, you will need to have representation from an experienced, highly rated and nationally recognized FINRA arbitration securities law attorney—an attorney who knows FINRA rules and procedures inside and out and how to handle these FINRA arbitration forgery cases and other complex legal issues. By hiring a top rated lawyer like Robert Wayne Pearce with over 40 years of experience with securities account theft claims by practicing securities law on both sides of the table and handling theft cases in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle theft cases—he aggressively represents investors and is one of the best lawyers to recover your securities account losses resulting from theft and all types of stockbroker misconduct in FINRA arbitration proceedings! At The Law Offices of Robert Wayne Pearce, P.A., we represent investors in all kinds of securities law and investment theft disputes in FINRA arbitration and mediation proceedings. We also handle a wide range of practice areas such as fraud and misrepresentation, breach of fiduciary duty, failure to supervise, and unsuitable recommendations. Attorney Pearce and his staff represent investors throughout Ohio, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español Free Initial Consultation With An Experienced Attorney Handling Securities Account Theft Cases Serving Ohio Residents in FINRA Arbitrations The Law Offices of Robert Wayne Pearce, P.A. are highly experienced attorneys who successfully handle securities account theft cases and other securities law matters and investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by a lawyer with over 40 years of experience and success in securities account related thefts and all kinds of securities law and investment disputes serving Ohio citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.

Feb 2, 2021

Corsicana, Texas Stockbroker Fraud Attorney

Did Michael Gamez Cause You Investment Losses? Michael Jason Gamez of Corsicana, Texas submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was fined and suspended for allegedly engaging in unauthorized trading and unsuitable recommendations thereby violating NASD Conduct Rules 2510(b) and FINRA Rules 2111 and 2010. Michael Jason Gamez was registered with Edward Jones as a General Securities Representative when FINRA alleged Mr. Gamez exercised discretion in 15 customer accounts without receiving prior written approval from the customers. Mr. Gamez also allegedly executed 4,448 unsuitable trades in 74 customer accounts. According to FINRA’s findings, Mr. Gamez failed to discuss with the customers the shares he intended to purchase and the amount of available funds in the account. He did not consider how the deposited funds limited the transaction size in a given month. Additionally, Mr. Gamez neglected to inform the customers about the actual trade date and only notified them after he purchased the securities. FINRA found Mr. Gamez had no understanding of the potential risks and rewards associated with the recommended trades and had no reasonable basis for his recommendations. Michael Jason Gamez, without admitting or denying FINRA’s findings, was assessed a fine of $25,000, ordered to pay $73,567 in deferred disgorgement and suspended him from association with any FINRA member in all capacities for one year. Do You Need a Stockbroker Fraud Attorney? Texas has thousands of stock brokerage firms and investment advisory offices. With so many stock brokerage firms and investment advisory offices, comes the potential for their stockbrokers, financial advisors, and other representatives to engage in one or more kinds of stockbroker fraud. They could make misrepresentations about investing in securities (stocks, bonds, options, mutual funds, REITs, Junk Bonds, Hedge Funds, Structured Products, etc.) they are selling. Unsuitable recommendations of the strategies they recommend (margin, short selling, option) is another kind of stockbroker fraud. They can engage in many other kinds of stockbroker fraud and stockbroker misconduct which violates Federal and Texas securities laws and Financial Industry Regulatory Authority (FINRA) rules and stock brokerage firms policies and procedures. Experienced Stockbroker Fraud Lawyers Who Handle FINRA Arbitrations Throughout Texas and Nationwide. Are you a Texas investor who has suffered significant losses in your stock brokerage and investment accounts? Did your Texas stockbroker or investment advisor, misrepresent facts about the securities, investments or strategies they were recommending or otherwise mismanage your investment account? If so, you need representation by an experienced, highly-rated and nationally recognized FINRA arbitration lawyer — an attorney who knows FINRA rules and procedures and how to handle these FINRA arbitration cases as well as other complex legal issues. By hiring a top rated stockbroker fraud attorney like Robert Wayne Pearce with over 40 years of experience on both sides of the table in FINRA arbitration proceedings, you will clearly see that Attorney Pearce doesn’t just handle cases—he aggressively represents investors and is one of the best securities attorneys to recover your investment losses for all types of stockbroker fraud and stockbroker misconduct in FINRA arbitration proceedings! At The Law Offices of Robert Wayne Pearce, P.A., we represent investors with securities misrepresentation claims and many other kinds of securities law and investment disputes in FINRA arbitration and mediation proceedings. We handle a wide range of practice areasbesides securities misrepresentation and stockbroker fraud claims such as stockbroker breach of fiduciary duty, stockbroker negligence, failure to supervise stockbrokers, and unsuitable recommendations by stockbrokers. Attorney Pearce and his staff represent investors throughout Texas, and across the United States on a CONTINGENCY FEE basis, which means you pay nothing – NO FEES-NO COSTS – unless we put money in your pocket after receiving a settlement or FINRA arbitration award. Se habla español Free Initial Consultation With An Experienced Stockbroker Fraud Lawyer Serving Texas Residents in FINRA Arbitrations The Law Offices of Robert Wayne Pearce, P.A. are highly experienced lawyers who successfully handle securities misrepresentation, stockbroker fraud, stockbroker misconduct and other investment disputes in FINRA arbitration proceedings, and who work tirelessly to secure the best possible result for you and your case. For dedicated representation by an attorney with over 40 years of experience and success in all kinds of securities law and investment disputes in FINRA arbitrations serving Texas citizens, contact the firm by phone at 561-338-0037, toll free at 800-732-2889 or via e-mail.