Articles Posted in Reg BI

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Steven Sabo (Sabo), currently associated with LPL Financial LLC, has at least one disclosable event. These events include one customer complaint, alleging that Sabo 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 $70,000.00 on September 22, 2023.

Claimant alleges LPL representatives made an unsuitable recommendation in 2013 to purchase an alternative investment.

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

FINRA BrokerCheck shows a settled customer complaint on September 14, 2023.

Time frame:  Unspecified\, \, Allegations: Claimants allege their investments in Puerto Rico closed-end funds were unsuitable, over-concentrated, and misrepresented as safe investments.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Andrew Kubicsko (Kubicsko), currently associated with Raymond James & Associates, INC., has at least one disclosable event. These events include one customer complaint, alleging that Kubicsko 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 September 20, 2023.

Claimant alleges FA (i) recommended an investment in the Thornburg Limited Term Municipal Fund which was unsuitable and not in Claimant’s best interest and (ii) failed to disclose annual fees paid by the fund manager to RJA.

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

FINRA BrokerCheck shows a settled customer complaint on September 28, 2023.

Customer alleges the Variable Annuities purchased between October 2021- December 2021 along with the transfer of ETF equities negatively impacted the customer and did not consider her needs in retirement.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Luis Grullon (Grullon), currently associated with J.P. Morgan Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Grullon 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 $17,254.00 on September 27, 2023.

Customer alleges unauthorized trading regarding managed account investment. Activity dates 9.14.23 to 9.27.23.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Fei Wang (Wang), currently associated with Cetera Investment Services LLC, has at least one disclosable event. These events include one customer complaint, alleging that Wang 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 $75,000.00 on September 26, 2023.

Former client alleges sales practice violations including breach of fiduciary duty, misrepresentation, and failure to disclose. Client statement of claim wrongly asserts that representative solicited the sales at issue.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Abraham Barrera (Barrera), currently associated with Wealth Enhancement Brokerage Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Barrera 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 $75,000.00 on September 26, 2023.

Former client alleges sales practice violations including breach of fiduciary duty, misrepresentation, and failure to disclose. Though not named as a respondent and not mentioned by name in the statement of claim, representative was the selling agent on the variable annuity contracts at issue.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Yee Chan (Chan), previously associated with Td Ameritrade, INC., has at least one disclosable event. These events include one customer complaint, alleging that Chan 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 $320,000.00 on September 26, 2023.

The client alleges in May 2023, the representative contacted the client and improperly solicited him to resume activities in the TD Ameritrade account.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Nicholas Carter (Carter), currently associated with Cetera Advisor Networks LLC, has at least one disclosable event. These events include one customer complaint, alleging that Carter 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 $550,000.00 on September 26, 2023.

Claimant alleges, inter alia, breach of fiduciary duty with respect to the lack of detection of the alleged outside fraud perpetuated against the client.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Gina Francisco (Francisco), currently associated with LPL Financial LLC, has at least one disclosable event. These events include one customer complaint, alleging that Francisco 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 $75,000.00 on September 22, 2023.

Customer alleges advisor made an unsuitable recommendation of an alternative investment in February 2013.

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