Articles Posted in Reg BI

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jesus Vega (Vega), currently associated with Nylife Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Vega 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 $27,500.00 on December 13, 2023.

The policyowner alleges that she purchased a variable universal life insurance policy in December 2022 which is unsuitable since the RR incorrectly advised her that her monthly premiums would be tax deductible. The customer requested a full refund of all premiums paid and that her original term life insurance policy be restored.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Nicole Bailey (Bailey), currently associated with RBC Capital Markets, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Bailey 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 $100,000.00 on December 15, 2023.

Claimant alleges that, in 2022, its financial advisor recommended unsuitable investments in mortgage-backed securities.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Adam Marquardt (Marquardt), previously associated with Cetera Advisors LLC, has at least one disclosable event. These events include one customer complaint, alleging that Marquardt 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 $3,300,000.00 on December 14, 2023.

Claimants generally allege unsuitability, failure to supervise, and negligence.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Steven Schmitt (Schmitt), currently associated with Raymond James & Associates, INC., has at least one disclosable event. These events include one customer complaint, alleging that Schmitt 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 $385,161.00 on December 18, 2023.

Claimant alleged, inter alia, that the investments strategy executed in the client’s account was unsuitable 2018-2022.

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

FINRA BrokerCheck shows a final customer complaint with a damage request of $50,000.00 on December 14, 2023.

Arbitration Statement of Claim alleged misrepresentation and negligence in connection with the investments purchased in 2011 and 2012. Claimant further alleges the BD supervision of the claimant’s account was inadequate.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jefferson Dyer (Dyer), previously associated with Money Concepts Capital CORP, has at least one disclosable event. These events include one customer complaint, alleging that Dyer 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 $125,000.00 on December 14, 2023.

The customer alleges investments were unsuitable and misrepresented. Statement of Claim includes allegation of violation of Virginia Blue Sky Laws.

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

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

Claimant alleged, inter alia, that the investments strategy executed in the client’s account was unsuitable 2021-2023

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Genevieve Mar (Mar), currently associated with Berthel, Fisher & Company Financial Services, INC., has at least one disclosable event. These events include one customer complaint, alleging that Mar 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 $99,999.00 on December 18, 2023.

The claimants allege that the investments they purchased from 2012 to 2015 were unsuitable and misrepresented to them by the representative. In addition, the claimants allege the firm failed to supervise the representative’s activities.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Frank Chan (Chan), currently associated with Osaic Wealth, 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 settled customer complaint with a damage request of $1,521,706.00 on December 18, 2023.

Mr. Chan is named as a respondent where the claimants allege that another registered representative recommended investments that were largely concentrated in illiquid, speculative, low-quality, and high commission non-traded real estate investment trusts and Business Development Companies.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Linda Derickson (Derickson), currently associated with Founders Financial Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Derickson 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 $500,000.00 on December 13, 2023.

Claimant alleges negligent, improper conduct, breach of contract, breach of fiduciary duty, negligence, negligent supervision,\, and violation of applicable laws and industry rules as it relates to the sale of an illiquid product in a retirement account.

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