Articles Posted in Reg BI

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker William Duffy (Duffy), previously associated with Innovation Partners LLC, has at least one disclosable event. These events include one customer complaint, alleging that Duffy recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $400,000.00 on June 24, 2025.

Breach of fiduciary duty; negligence and negligent misrepresentation; breach of contract; overconcentration; failure to supervise; Violation of Regulation Best Interest

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Anthony Clifford (Clifford), currently associated with Wells Fargo Clearing Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Clifford recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint on June 25, 2025.

Claimant alleges that beginning in May 2019, the financial advisor made unsuitable investments.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Omar Gomez Dominguez (Gomez Dominguez), previously associated with J.P. Morgan Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Gomez Dominguez recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $500,000.00 on June 25, 2025.

Customer alleges misrepresentation and unsuitable recommendation regarding managed account investment. Activity dates July 2019 – September 2021.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Steven Alfano (Alfano), currently associated with Equitable Advisors, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Alfano recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $12,762.88 on June 26, 2025.

Client alleged the rep switched her policy without authorization.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Magruder (Magruder), previously associated with Raymond James & Associates, INC., has at least 3 disclosable events. These events include 2 customer complaints, one regulatory event, alleging that Magruder recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on June 27, 2025.

Without admitting or denying the findings, Magruder consented to the sanction and to the entry of findings that he failed to provide information and documents requested by FINRA in connection with its investigation into whether he had obtained loans from customers without notice to, or approval from, his member firms. The findings stated that FINRA requested documents and information material to its investigation, such as financial account statements. Initially, Magruder submitted an incomplete response that did not substantially comply with FINRA’s request. Ultimately, Magruder failed to produce the complete information or documents requested.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker John Hebner (Hebner), previously associated with Moloney Securities Co., INC., has at least one disclosable event. These events include one customer complaint, alleging that Hebner recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $25,000.00 on June 25, 2025.

Suitability/negligence. 2020-2022.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Tony Barouti (Barouti), currently associated with Emerson Equity LLC, has at least one disclosable event. These events include one customer complaint, alleging that Barouti recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $300,000.00 on June 24, 2025.

Breach of fiduciary duty; negligence and negligent misrepresentation; breach of contract; overconcentration; failure to supervise; Violation of Regulation Best Interest. Investments made around 02/2020 and 1/2021

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Lawrence Cagliostro (Cagliostro), currently associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has at least one disclosable event. These events include one customer complaint, alleging that Cagliostro recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $500,000.00 on June 26, 2025.

Client alleges unsuitability and misrepresentation.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Benjamin Silberman (Silberman), currently associated with Ameriprise Financial Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Silberman recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $60,000.00 on June 25, 2025.

Claimant alleges that she sustained losses because Respondent “twisted” annuity products without sufficient explanation.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker James Ptacek (Ptacek), previously associated with LPL Financial LLC, has at least one disclosable event. These events include one customer complaint, alleging that Ptacek recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint with a damage request of $100,000.00 on June 24, 2025.

Customer alleges that an investment made in 2018 was unsuitable for the customer’s investment objectives and risk tolerance.

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