Articles Posted in Reg BI

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Glen Guinto (Guinto), currently associated with Wells Fargo Clearing Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Guinto 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 $5,532.38 on March 12, 2025.

The client complained that the Financial Advisor did not explain that commissions would be charged on the purchase of securities. The client requests reimbursement for all commissions paid. (12/24/2024 – 03/12/2025)

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

FINRA BrokerCheck shows a settled customer complaint on April 04, 2025.

The client alleged that he instructed his advisor not to rebalance account with cash from his settlement account needed to repurchase a house. The corrective trades caused a loss. Activity date was April 4, 2025 through April 7, 2025.

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Patrick Millian (Millian), currently associated with UBS Financial Services INC., has at least one disclosable event. These events include one customer complaint, alleging that Millian 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 $8,000.00 on April 09, 2025.

Time Frame: March 31st, 2025 to April 3rd, 2025\, \, What were the allegations against the individua:  lThe client alleges that the financial advisor failed to follow her instructions by investing her account prior to when she wanted. The client further alleges that some of the investment decisions were against her risk tolerance.

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Marc Korsch (Korsch), previously associated with Arkadios Capital, has at least one disclosable event. These events include one customer complaint, alleging that Korsch 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 April 07, 2025.

The customers allege that the Registered Representative recommended and misrepresented unsuitable, high-risk, illiquid investments. No specific dates for the alleged activity were identified in the Statement of Claim.

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Daryl Powell (Powell), currently associated with Charles Schwab & Co., INC., has at least one disclosable event. These events include one customer complaint, alleging that Powell 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 $1,500,000.00 on March 13, 2025.

Starting in 2021, the client alleges the associate misrepresented the brokerage account funds available for withdrawal from the Pledged Asset Line of credit.

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

FINRA BrokerCheck shows a final customer complaint on March 14, 2025.

The Securities and Exchange Commission (‘Commission’) deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted against John S. Winslow (‘Respondent’). In anticipation of the institution of these proceedings, Respondent has submitted an Offer of Settlement which the Commission has determined to accept. The commission finds that On December 6, 2022, a final judgment was entered by consent against Respondent, ordering him to cease and desist from violating RCW 21.20.010, the anti-fraud section of the Securities Act of Washington, as set forth in the judgment entered in the administrative action entitled In the Matter of Determining Whether There Has Been a Violation of the Securities Act of Washington by John Scott Winslow, Order Number S-21-3243-22-CO02 (the ‘Washington Order’) by the State of Washington Department of Financial Institutions, Securities Division. The Washington Order found that from 2013 to 2021, Winslow was a securities salesperson and investment adviser representative for a retired senior citizen (the ‘Client’). It further found that between 2017 and 2020, the Client transferred more than $550,000 to Winslow’s personal bank account and to one of his personal businesses after Winslow told the Client that he needed money to buy a house and that he would repay the Client more than she made on her Edward Jones investments. The Washington Order found that Winslow did not provide the Client with a written agreement for the alleged loan and that Winslow did not repay the Client. The Washington Order also found that Winslow liquidated annuities that were held by the Client and caused the Client to incur nearly $4,000 in surrender charges, and that a resulting $370,000 was paid out of the Client’s account to purchase gold coins through an online account using Winslow’s email address, $360,000 of which were shipped to Winslow’s post office box. Further, the Washington Order found that in connection with the sale of securities in the Client’s accounts, Winslow made false and misleading statements in the Client’s account records regarding certain of the transactions. The Washington Order barred Winslow from making an application for or being granted a broker-dealer, securities salesperson, investment adviser, and/or investment adviser representative license, based on its finding that Winslow had violated RCW 21.20.010, the antifraud section of the Securities Act of Washington, by employing a device, scheme, or artifice to defraud; making an untrue statement of a material fact or omitting to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading; or engaging in an act, practice, or course of business which operated or would operate as a fraud or deceit upon another person.

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker David Miller (Miller), currently associated with RBC Capital Markets, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Miller 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 $2,500,000.00 on March 24, 2025.

Claimants contend that, after June 2020, Respondent made recommendations regarding a fixed income investment strategy that did not comply with SEC’s Regulation Best Interest.

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

FINRA BrokerCheck shows a final customer complaint on April 07, 2025.

Without admitting or denying the findings, Conn consented to the sanctions and to the entry of findings that he exercised discretion in customer accounts without prior written authorization from the customers or prior permission from his member firm. The findings stated that the customers knew Conn was placing trades in their accounts. The findings also stated that in circumvention of firm policy, Conn gifted one of the customers a total of $120,000 by making deposits into her checking account. Conn failed to disclose these gifts to the firm. In addition, Conn falsely stated on his annual questionnaire that he had not gifted any customer more than $100.

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker William King (King), previously associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has at least one disclosable event. These events include one customer complaint, alleging that King 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 $1,000,000.00 on March 24, 2025.

Client alleges unsuitability and misrepresentation.

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Richard Belz (Belz), currently associated with R. F. Lafferty & Co., INC., has at least one disclosable event. These events include one customer complaint, alleging that Belz 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 $340,000.00 on March 10, 2025.

From June 2020 to December 2024 -Unsuitable Investments.

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