Reg BI

Broker Iris Israel in Oppenheimer & Co. Inc. Firm Has Customer Complaint

March 14, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Iris Israel (Israel), previously associated with Oppenheimer & Co. Inc., has at least 7 disclosable events. These events include 7 customer complaints, alleging that Israel recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint on October 07, 2024.

Violation of FINRA rules; Violations of Georgia & NC Blue Sky Laws and RICO; Breach of Fiduciary Duty; Breach of the Duty of Good Faith & Fair Dealing; Breach of Contract; Respondeat Superior/Agency by Estoppel Liability; Ponzi Scheme. From 2013 to 2016.

Broker Feng Chen in LPL Financial LLC Firm Has Customer Complaint

March 13, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a final customer complaint on October 08, 2024.

Without admitting or denying the findings, Chen consented to the sanction and to the entry of findings that he falsified information on customer account forms by adding his own name as beneficiary to the accounts without the customers’ knowledge or consent or his member firm’s approval. The findings stated that in doing so, Chen falsely identified himself as a friend or relative of the customers on the required forms. Subsequently, the firm detected Chen’s misconduct and removed him as beneficiary from the accounts. The findings also stated that without the customers’ prior authorization, Chen sold mutual funds in customer accounts totaling more than $1.9 million and purchased UITs for customer accounts totaling more than $1.7 million.

Broker Brian Culver in Cambridge Investment Research, Inc. Firm Has Customer Complaint

March 13, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Brian Culver (Culver), currently associated with Cambridge Investment Research, Inc., has at least 3 disclosable events. These events include 3 customer complaints, alleging that Culver recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on October 08, 2024.

Statement of Claim alleges RR failed to investment the client in accordance with investment objectives. It is alleged the RR invested in highly speculative and unsuitable investments.

Broker Timothy Van dyken in Ameriprise Financial Services, LLC Firm Has Customer Complaint

March 13, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Timothy Van Dyken (Van Dyken), previously associated with Ameriprise Financial Services, LLC, has at least 2 disclosable events. These events include one customer complaint, one regulatory, alleging that Van dyken recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on October 08, 2024.

S-24-3751-24-CO01 – Timothy Van Dyken Consent Order On October 8, 2024, the Securities Division entered a Consent Order with Respondent Timothy Van Dyken (Van Dyken). The Securities Division alleged that Van Dyken, an investment adviser representative and registered representative, engaged in dishonest and unethical practices and violated RCW 21.20.020(c) and WAC 460-24A-200(r). As part of the Consent Order, the Respondent neither admitted nor denied the Securities Division’s findings of fact and conclusions of law but agreed to cease and desist from violations of the Securities Act of Washington and to waive his right to a hearing and judicial review of this matter.

Broker Gihan Fernando in Cetera Investment Services LLC Firm Has Customer Complaint

March 13, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Gihan Fernando (Fernando), currently associated with Cetera Investment Services LLC, has at least 68 disclosable events. These events include 67 customer complaints, one tax lien, alleging that Fernando 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 $50,000.00 on October 09, 2024.

Complainant alleges that certain features of the product were misrepresented during sales process on or around August 2016.

There are Recent Customer Complaints with Broker Kostas Tsamos in Firm Spartan Capital Securities, LLC

March 13, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a final customer complaint on October 08, 2024.

Without admitting or denying the findings, Tsamos consented to the sanction and to the entry of findings that he willfully violated the Best Interest Obligation under Rule 15l-1(a)(1) of the Securities Exchange Act of 1934 (Reg BI) by recommending a series of trades in customers’ accounts, four of whom were senior customers, that was excessive, unsuitable, and not in the customers’ best interests. The findings stated that Tsamos’ customers relied on his advice and routinely followed his recommendations and, as a result, he exercised de facto control over the customers’ accounts. Tsamos’s trading in the customer accounts resulted in total trading costs of $958,948, including $849,576 in commissions, and caused over $1.03 million in total realized losses.

Broker Shana Hudson in Ameriprise Financial Services, LLC Firm Has Customer Complaint

March 13, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on October 09, 2024.

The client verbally alleged that a variable annuity income guarantee recommended by the advisor in August 2023 was misrepresented.

There are Recent Customer Complaints with Broker Timothy Farris in Firm Cetera Advisors LLC

March 13, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Timothy Farris (Farris), currently associated with Cetera Advisors LLC, has at least 3 disclosable events. These events include 3 customer complaints, alleging that Farris 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 $207,649.00 on October 08, 2024.

Arbitration Statement of Claim alleged excessive and unsuitable securities trading in connection with the investments purchased in 2020 – 2021. Claimant further alleges the BD supervision of the claimant’s account was inadequate.

Broker Richard Eden in David Lerner Associates, Inc. Firm Has Customer Complaint

March 13, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Richard Eden (Eden), currently associated with David Lerner Associates, Inc., has at least 2 disclosable events. These events include 2 customer complaints, alleging that Eden 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 $95,000.00 on October 08, 2024.

Breach of fiduciary duty, unsuitability, misrepresentation/omission in connection with E12.

There are Recent Customer Complaints with Broker Jeffrey Perryman in Firm Nylife Securities LLC

March 13, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jeffrey Perryman (Perryman), previously associated with Nylife Securities LLC, has at least 6 disclosable events. These events include 5 customer complaints, one regulatory, alleging that Perryman recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on October 07, 2024.

Without admitting or denying the findings, Perryman consented to the sanction and to the entry of findings that he refused to provide information and documents requested by FINRA in connection with its investigation into his potential undisclosed OBAs, including charging fees to a customer for services that he failed to disclose to his member firm.