Articles Posted in Reg BI

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Richard Shaw (Shaw), currently associated with Osaic Wealth, Inc., has at least 3 disclosable events. These events include 3 customer complaints, alleging that Shaw 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 October 28, 2024.

Claimant alleges their  RR recommended an unsuitable Oil and Gas investment

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Thomas Swan (Swan), currently associated with Western International Securities, Inc., has at least 5 disclosable events. These events include 5 customer complaints, alleging that Swan 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 October 28, 2024.

Customer alleges that an investment recommendation was unsuitable and misleading.

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Lawrence Barrett (Barrett), currently associated with Osaic Wealth, Inc., has at least one disclosable event. These events include one customer complaint, alleging that Barrett 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 October 28, 2024.

Claimants allege their RR recommended an unsuitable Oil and Gas investment.

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

FINRA BrokerCheck shows a pending customer complaint on October 31, 2024.

Claimant, son of deceased client, alleges registered representative improperly established a pay-on-death beneficiary designation in favor of registered representative’s boyfriend. Claimant further alleges unsuitable investments in mutual funds and CDs.

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

FINRA BrokerCheck shows a final customer complaint on October 29, 2024.

Without admitting or denying the findings, Coffey consented to the sanctions and to the entry of findings that he forged customer signatures on two variable annuity withdrawal forms by attaching an authentic customer signature page from a previous withdrawal form, changing the date, then submitting the new withdrawal form. The findings stated that although Coffey believed he was accommodating the customer’s request, he did not inform the customer before forging her signature and submitting these two new withdrawal forms. The customer received all withdrawn funds, and Coffey was not compensated in connection with either transaction. Furthermore, the withdrawal forms qualify as customer account records. As a result, Coffey caused his member firm to maintain inaccurate books and records.

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Alexandre Maltez (Maltez), currently associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has at least one disclosable event. These events include one customer complaint, alleging that Maltez 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 $120,000.00 on October 30, 2024.

BREACH OF FIDUCIARY DUTY, NEGLIGENCE, AND REG BI

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Victor Torres (Torres), currently associated with Equitable Advisors, LLC, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Torres 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 $150,000.00 on October 30, 2024.

Claimants allege unsuitable recommendations with respect to two variable life insurance policies sold by RR Torres as tax shields.

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Thomas Lisk (Lisk), currently associated with Realta Equities, Inc., has at least 10 disclosable events. These events include 10 customer complaints, alleging that Lisk 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 October 29, 2024.

The claimants allege unsuitable investments.

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker William Devine (Devine), previously associated with Ameriprise Financial Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Devine 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 $860,000.00 on October 30, 2024.

Claimant alleges that she was wrongfully recommended she withdraw large sums of money from her inherited IRA account to fund the purchase and construction costs of a home, resulting in substantial unplanned capital gains taxes.

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Brian Adams (Adams), currently associated with Carter, Terry & Company, Inc., has at least one disclosable event. These events include one customer complaint, alleging that Adams 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 $54,000.00 on October 29, 2024.

Customer is dissatisfied with the performance of her investment portfolio and investment strategy over the last 4 years.

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