Articles Posted in Reg BI

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

FINRA BrokerCheck shows a settled customer complaint with a damage request of $120,000.00  on March 26, 2020.

Client alleges RR failed to follow liquidation instructions.

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

FINRA BrokerCheck shows a settled customer complaint with a damage request of $120,000.00  on March 30, 2020.

The customer alleged that the representative made unsuitable investment recommendations.

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

FINRA BrokerCheck shows a settled customer complaint with a damage request of $150,000.00  on March 30, 2020.

Claimant alleges representative recommended claimant invest in an unsuitable, non-traded, registered direct participation program, United Development Funding III, and Broker breached its duty to supervise its agent and claimant’s account. The transaction occurred in 2007.

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

FINRA BrokerCheck shows a settled customer complaint with a damage request of $120,000.00  on March 30, 2020.

The customer alleged that the representative made unsuitable investment recommendations.

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

FINRA BrokerCheck shows a settled customer complaint on March 27, 2020.

Client complains that transactions in a discretionary account should not have happened without his knowledge. (3/19/2020-3/27/2020)

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

FINRA BrokerCheck shows a settled customer complaint on March 30, 2020.

Claimant alleges that on or about December 2019, unauthorized trades were placed.\<char_lb_r>\, \<char_lb_r>\,  \<char_lb_r>\, \<char_lb_r>\, \<char_lb_r>\, \<char_lb_r>\,  \<char_lb_r>\, 04/01/2020  \<char_lb_r>\, \<char_lb_r>\, DRP  \<char_lb_r>\, \<char_lb_r>\,  \<char_lb_r>\, \<char_lb_r>\, Jordan Samelson (CRD 2984356): Claimant alleges that on or about December 2019, unauthorized trades were placed.

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

FINRA BrokerCheck shows a settled customer complaint on March 27, 2020.

Client complained that the financial advisor did not advise him that some of his investments had to be sold to facilitate the transfer his account, or that the sales would result in tax consequences. (11/21/2019-3/17/2020)

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

FINRA BrokerCheck shows a settled customer complaint with a damage request of $110,000.00  on March 30, 2020.

Alleges that representative’s actions have resulted in losses

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

FINRA BrokerCheck shows a settled customer complaint with a damage request of $40,876.00  on March 27, 2020.

In the financial industry advisors must meet the requirements of the SEC’s Regulation Best Interest (Reg BI) in providing investment advice and services.  Reg BI established a ‘best interest’ standard for brokerage firms and registered representatives. This standard applies when brokers make recommendations to retail customer for any securities transaction or investment strategy involving securities, including recommendations of types of accounts. This standard applies when brokers make recommendations to retail customer for any securities transaction or investment strategy involving securities, including recommendations of types of accounts.

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

FINRA BrokerCheck shows a settled customer complaint with a damage request of $1,000,000.00  on March 30, 2020.

It is alleged that advisor misled claimant about her investments and misappropriated the funds transferred to him.

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