FINRA’s ongoing campaign to rein in alleged sales abuses involving short-term trading of unit investment trusts in customer accounts has led a 23-year veteran advisor to accept a $10,000 fine and three-month suspension. Miller Stern Lawyers – 410-Law-Firm is currently investigating clients of Stifel Nicolaus and all firms and broker…
FINRA fined a small independent broker-dealer in California $35,000 for failing to adequately conduct background investigations on registered reps and for failing to obtain regulatory pre-approval for a seven-month growth spurt, according to Advisor Hub. Infinity Financial Services, an Oakland, CA-based firm founded 13 years ago by a former Merrill…
Miller Stern Lawyers – 410-Law-Firm is currently investigating clients of Merrill Lynch and Charles Kenahan and Dermond Cavanaugh who are may be victims of, and suffered damages and losses, due to abuses such as churning, beach of fiduciary duty, overcharging , and unauthorized trading. According to CNBC and other new…
Morgan Stanley terminated around ten brokers following a nationwide probe of alleged abuses in its inherited account program, according to lawyers, firm sources and former managers per advisor Hub. Miller Stern Lawyers – 410-Law-Firm is currently investigating clients of Morgan Stanley who are victims of, and suffered damages and losses,…
Miller Stern Lawyers – 410-Law-Firm is currently investigating clients of Wells Fargo Advisors who are victims of, and suffered damages and losses, due to the failure to supervise. It has been reported that Wells Fargo Advisors has agreed to pay more than $550,000 in fines and restitution for failing to…
According to Advisor Hub, “Joseph Woitkoski, who was terminated by Raymond James Associates in 2018 after 20 years as a registered rep, was suspended for 30 days and fined $7,500 for allegedly making discretionary trades for 12 customers without their written authorizations, according to an acceptance, waiver and consent letter…
According to Advisor Hub customer complaints and litigation against brokerages will be heating up with the market turmoil. Most of the industry will likely conclude that coronavirus pandemic fears and oil wars between Russia and Saudi Arabia are the cause of the market drop and are totally out of anyone one…
Miller Law Group – Miller Stern Lawyers, LLC successfully litigated against Stifel, Nicolaus & Company, Incorporated and current financial advisor Kenneth Blumberg (CRD# 1585520) pertaining to a multitude of allegations including taking discretion in customer accounts without authority, over-concentration in sectors and individual securities, breach of fiduciary duty, unsuitable investments and other…