Reg BI

There are Recent Customer Complaints with Broker Michael Raineri in Firm Securities America, INC.

August 25, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a final customer complaint on July 01, 2024.

S-23-3545-24-CO01 – On August 26, 2024, the Securities Division entered into a Consent Order with Michael Patrick Raineri (Raineri) of Seattle, Washington. Raineri was previously an investment adviser representative at Securities America Advisors, Inc. and a securities salesperson at Securities America, Inc. The Securities Division previously entered a Statement of Charges against Raineri on July 1, 2024. The Statement of Charges alleged that Raineri engaged in dishonest and unethical practices and violated the anti-fraud provisions of the Securities Act of Washington in connection with funds that he received from an elderly client. In settling the matter, Raineri neither admitted nor denied the allegations, but agreed to cease and desist from violating the Securities Act and to denial of any future securities registration applications. Raineri further agreed to pay a fine of $20,000 and reimburse the Securities Division $5,000 for its costs of investigation. Raineri waived his right to a hearing and to judicial review of the matter.\, \, \, S-23-3545-23-SC01 – Michael Patrick Raineri -Statement of Charges\, On July 1, 2024, the Securities Division entered a Statement of Charges and Notice of Intent to Enter Order to Cease and Desist, to Deny Future Registrations, to Impose a Fine, and to Charge Costs (\\u201cStatement of Charges\\u201d) against Michael Raineri (\\u201cRespondent\\u201d) of Seattle, Washington. Raineri was previously an investment adviser representative at Securities America Advisors, Inc. and a securities salesperson at Securities America, Inc. The Statement of Charges alleges that the Respondent violated Raineri engaged in dishonest and unethical practices and the anti-fraud provisions of the Securities Act of Washington in connection with funds that he received from an elderly client. The Securities Division intends to order the Respondent to cease and desist from violating the Securities Act of Washington and gives notice of its intent to deny future registrations, impose a fine, and to charge costs. The Respondent has a right to request a hearing on the Statement of Charges.\,

Broker Michael Lackwood in Apw Capital, INC. Firm Has Customer Complaint

August 25, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Lackwood (Lackwood), previously associated with Apw Capital, INC., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Lackwood 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 $351,089.00 on February 05, 2025.

Complainant invested $351,089 between 7/11/2024 and 7/22/2024. She alleges a 31% loss by 11/26/2024 . Alleges respondent invested in leveraged ETFs and options, which were outside of her risk tolerance and understanding.

Broker Jeffrey Mullins in Wells Fargo Clearing Services, LLC Firm Has Customer Complaint

August 25, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on May 01, 2025.

The client verbally complained that their Financial Advisor advised them they would receive the full return of principal when they surrendered during the free look period, but the returned sum was reduced by a market value adjustment. (2/25/2025 – 5/1/2025)

There are Recent Customer Complaints with Broker Ariel Rivero in Firm Insigneo Securities, LLC

August 25, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Ariel Rivero (Rivero), previously associated with Insigneo Securities, LLC, has at least 2 disclosable events. These events include 2 regulatory events, alleging that Rivero recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on May 02, 2025.

Respondent Rivero failed to pay fines and/or costs of $9,802.99 in FINRA Case #2021072830601.

There are Recent Customer Complaints with Broker Michael Mooney in Firm Oppenheimer & CO. INC.

August 25, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a final customer complaint on June 05, 2024.

The Securities and Exchange Commission (‘Commission’) deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted against Michael Mooney (‘Mooney’ or ‘Respondent’). In anticipation of the institution of these proceedings, Respondent has submitted an Offer of Settlement (the ‘Offer’) which the Commission has determined to accept. The Commission finds that o March 18, 2024, a judgment was entered by consent against Mooney, permanently enjoining him from future violations of Section 17(a) of the Securities Act of 1933 (‘Securities Act’), Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and Sections 206(1) and 206(2) of the Advisers Act, as set forth in the judgment entered in the civil action entitled Securities and Exchange Commission v. Mooney, et al., Civil Action Number 1:22-CV02320, in the United States District Court for the Northern District of Georgia. The Commission’s complaint alleged that Mooney, in connection with the sale of interests in Horizon Private Equity, III, LLC and while working at Southport Capital, made false statements to investors and otherwise engaged in conduct which operated as a fraud and deceit on investors.

Broker Philippe Crane in Morgan Stanley Firm Has Customer Complaint

August 25, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a pending customer complaint on April 23, 2025.

CLIENT ALLEGED THAT COVERED CALL OPTION STRATEGY RECOMMENDED TO HIM WAS NOT IN HIS BEST INTERESTS. 2024

There are Recent Customer Complaints with Broker Eduardo Leon in Firm Global Financial Services, L.l.c.

August 25, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Eduardo Leon (Leon), currently associated with Global Financial Services, L.l.c., has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Leon recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on May 08, 2025.

Without admitting or denying the findings, Leon consented to the sanctions and to the entry of findings that he recommended that retail and non-retail customers purchase and hold a volatility-linked exchange-traded note without having a sufficient understanding of its risks and features. The findings stated that Leon willfully violated Rule 15l-1(a)(1) of the Securities Exchange Act of 1934 (Reg BI) by recommending investments that were not in the best interests of his retail customers. In addition, Leon recommended that the customers purchase a foreign currency denominated corporate bond that was not in the best interests of the retail customers and was not suitable for the non-retail customers, and in amounts that resulted in concentration levels that were inconsistent with the customers’ investment profiles.

There are Recent Customer Complaints with Broker Anthony Saab in Firm Sunbelt Securities, INC.

August 25, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a final customer complaint on May 01, 2025.

Without admitting or denying the findings, Saab consented to the sanction and to the entry of findings that he refused to provide documents and information requested by FINRA as part of its investigation into his sale of alternative investments.

There are Recent Customer Complaints with Broker Zachary Werner in Firm UBS Financial Services INC.

August 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Zachary Werner (Werner), currently associated with UBS Financial Services INC., has at least one disclosable event. These events include one customer complaint, alleging that Werner 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 $3,233,690.00 on May 23, 2025.

Time frame: 2016 to 2021\, Allegations: Claimant’s Counsel alleges (Team) fail to identify and escalate red flag issues associated with financial exploitation and made trades in the account that were not in the best interest of the claimant.

There are Recent Customer Complaints with Broker Nicholas Schlagheck in Firm Cape Securities INC.

August 24, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Nicholas Schlagheck (Schlagheck), previously associated with Cape Securities INC., has at least one disclosable event. These events include one customer complaint, alleging that Schlagheck 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 $263,307.00 on May 20, 2025.

Customer alleges that the CLO Interval Mutual Fund investment was highly concentrated and unsuitable. The investments occurred between June 15, 2023 and July 16, 2024.