Churning (Excessive Trading)

There are Recent Customer Complaints with Broker Rick Davidson in Firm American Trust Investment Services, INC.

September 15, 2025 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Rick Davidson (Davidson), currently associated with American Trust Investment Services, INC., has been subject to at least one disclosable event. These events include one customer complaint. Several of those complaints against Davidson 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 $800,000.00 on March 18, 2023.

Time frame: 2020 – 2023. Claimants allege unsuitable investment recommendations, churning, excessive trading and misrepresentation.

Broker Efrain Trujillo in Western International Securities, INC. Firm Has Customer Complaint

September 13, 2025 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Efrain Trujillo (Trujillo), previously associated with Western International Securities, INC., has been subject to at least 2 disclosable events. These events include one customer complaint, one regulatory event. Several of those complaints against Trujillo 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 $30,750.00 on April 02, 2023.

Complaint regarding non-payment of promissory note and potential excessive trading.

There are Recent Customer Complaints with Broker William Notrica in Firm Aegis Capital Corp.

September 11, 2025 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker William Notrica (Notrica), currently 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 Notrica 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 April 11, 2023.

Customer alleges unsuitable investments and unreasonably high commissions and fees

There are Recent Customer Complaints with Broker Joseph Johnson in Firm Vanderbilt Securities, LLC

September 8, 2025 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Joseph Johnson (Johnson), currently associated with Vanderbilt Securities, LLC, has been subject to at least one disclosable event. These events include one customer complaint. Several of those complaints against Johnson 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 $300,000.00 on May 01, 2023.

Client claims unsuitable and excessive trading in brokerage account for the period of 2011-2022.

There are Recent Customer Complaints with Broker Steven Thompson in Firm Network 1 Financial Securities INC.

September 1, 2025 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Steven Thompson (Thompson), previously associated with Network 1 Financial Securities INC., has been subject to at least one disclosable event. These events include one regulatory event. Several of those complaints against Thompson concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.

FINRA BrokerCheck shows a final customer complaint on May 30, 2023.

Respondent Thompson failed to respond to FINRA requests for information.

There are Recent Customer Complaints with Broker Viqas Akhtar in Firm B. Riley Wealth Management

August 28, 2025 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Viqas Akhtar (Akhtar), currently associated with B. Riley Wealth Management, has been subject to at least one disclosable event. These events include one customer complaint. Several of those complaints against Akhtar 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 $5,000.00 on July 01, 2023.

Alleges unsuitable investments and excessive trading.

There are Recent Customer Complaints with Broker Robert Knutson in Firm Morgan Stanley

August 27, 2025 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Robert Knutson (Knutson), 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 Knutson 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 $44,015,038.00 on July 11, 2023.

Claimants allege, inter alia, Excessive trading with respect to investments – 2013 to 2022

Broker Nathan Wells in Cetera Wealth Services, LLC Firm Has Customer Complaint

August 26, 2025 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Nathan Wells (Wells), currently associated with Cetera Wealth Services, LLC, has been subject to at least 2 disclosable events. These events include 2 customer complaints. Several of those complaints against Wells 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 $100,000.00 on July 13, 2023.

Claimant alleges that Representative failed to disclose the risks, illiquidity, and high commissions associated with Representative’s recommendation of two non-traded investment vehicles. Claimant further alleges that the recommended products were not in Claimant’s best interest.

Broker Michael Puma in Oppenheimer & CO. INC. Firm Has Customer Complaint

August 26, 2025 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Michael Puma (Puma), previously associated with Oppenheimer & CO. INC., has been subject to at least one disclosable event. These events include one customer complaint. Several of those complaints against Puma 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 July 17, 2023.

Claimants assert claims for breach of fiduciary duty, fraud, negligence, breach of contract, unsuitability and churning in connection with use of margin and trading in their accounts. From 2016-2019.

Broker Benjamin Davis in Oppenheimer & CO. INC. Firm Has Customer Complaint

August 26, 2025 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Benjamin Davis (Davis), currently associated with Oppenheimer & CO. INC., has been subject to at least one disclosable event. These events include one customer complaint. Several of those complaints against Davis 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 July 17, 2023.

Claimants assert claims for breach of fiduciary duty, fraud, negligence, breach of contract, unsuitability and churning in connection with use of margin and trading in their accounts. From 2016-2019.