Articles Posted in Churning (Excessive Trading)

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According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Steven Meyer (Meyer), currently associated with IBN Financial Services, INC., has been subject to at least one disclosable event. These events include one customer complaint. Several of those complaints against Meyer  concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $67,000.00 on July 19, 2021.

Between June 2015 and July 2017, client alleges fraud, excessive trading, unauthorized trading, breach of fiduciary duty, unsuitable transactions, negligence and unjust enrichment.

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According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Daniel Mcgowan (Mcgowan), previously associated with Benchmark Investments, INC., has been subject to at least one disclosable event. These events include one customer complaint. Several of those complaints against Mcgowan  concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $34,000.00 on July 19, 2021.

Claimant alleges:  excessive trading, unauthorized trading, unsuitability, breach of contract, breach of fiduciary duty, negligence

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According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Joseph Baldassarra (Baldassarra), previously associated with Newbridge Securities Corporation, has been subject to at least one disclosable event. These events include one customer complaint. Several of those complaints against Baldassarra  concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $34,000.00 on July 19, 2021.

Claimant alleges:  excessive trading, unauthorized trading, unsuitability, breach of contract, breach of fiduciary duty, negligence

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According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Serge Parakhnevich (Parakhnevich), currently associated with PHX Financial, INC., has been subject to at least 3 disclosable events. These events include 2 customer complaints, one regulatory event. Several of those complaints against Parakhnevich  concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $50,000.00 on July 23, 2021.

In early summer of 2015, claimant alleges excessive trading, unauthorized trading, and breach of fiduciary duties took place in his account by his registered representatives at the time.

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According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker James Gustafson (Gustafson), previously associated with Fordham Financial Management, INC., has been subject to at least one disclosable event. These events include one customer complaint. Several of those complaints against Gustafson  concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $50,000.00 on July 23, 2021.

In early summer of 2015 claimant alleges excessive trading, unauthorized traind and breach of fiduciary duties took place in his account by his registered representative at the time.

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According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Margaret Laquidara (Laquidara), previously associated with Aegis Capital Corp., has been subject to at least one disclosable event. These events include one customer complaint. Several of those complaints against Laquidara  concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $1,548,002.51 on July 30, 2021.

Claimant alleges that his advisor recommended unsuitable investments in annuities in February 2019. Claimant’s causes of action are suitability; diversification; self-dealing; violation of Reg BI; churning and failure to supervise.

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According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Harvey Cohen (Cohen), previously associated with Purshe Kaplan Sterling Investments, has been subject to at least one disclosable event. These events include one customer complaint. Several of those complaints against Cohen  concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $76,500.00 on August 02, 2021.

Customer alleges unsuitable investments, churning and failure to properly supervise transactions. January 2015 through November 2019.

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According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Neil Kaplan (Kaplan), previously associated with Morgan Stanley, has been subject to at least one disclosable event. These events include one customer complaint. Several of those complaints against Kaplan  concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.

FINRA BrokerCheck shows a settled customer complaint with a damage request of $240,000.00 on August 03, 2021.

Claimant alleges, inter alia, excessive trading with respect to investments –  Jan 2015 – Dec 2015

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According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Michael Valdini (Valdini), previously associated with Joseph Stone Capital L.l.c., has been subject to at least one disclosable event. These events include one customer complaint. Several of those complaints against Valdini  concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $1,277,631.00 on August 09, 2021.

Churning and violations of SEC Rule 10b-5; qualitative and quantitative unsuitability; breach of fiduciary contract; negligent misrepresentations and omissions; and violations of FINRA Rule 2010. Alleged activity occurred between September 2015 and September 2019.

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According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Johnny Guan (Guan), previously associated with Aegis Capital Corp., has been subject to at least 2 disclosable events. These events include 2 customer complaints. Several of those complaints against Guan  concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.

FINRA BrokerCheck shows a settled customer complaint on August 25, 2021.

Excessive trading

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