Articles Posted in Reg BI

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Marks (Marks), currently associated with LPL Financial LLC, has at least one disclosable event. These events include one customer complaint, alleging that Marks 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 August 22, 2022.

Failure to conduct adequate due diligence; negligent misrepresentation and overconcentration of investment in claimant’s account in connection with their Northstar fixed-rate investment.

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

FINRA BrokerCheck shows a settled customer complaint on August 17, 2022.

Customer alleges that the recommendation to purchase a variable annuity in January 2022 was not consistent with her financial goal.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Eric Schwartz (Schwartz), previously associated with Purshe Kaplan Sterling Investments, has at least one disclosable event. These events include one customer complaint, alleging that Schwartz 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 $850,000.00 on August 23, 2022.

Claimant’s counsel alleges unsuitability and misrepresentation with respect to recommendations to invest in and hold an options overlay strategy.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker David Lesko (Lesko), currently associated with LPL Enterprise, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Lesko 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 $5,000.00 on August 22, 2022.

Client alleges that an unsuitable bond was bought in his account causing him to lose money

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Coughlin (Coughlin), previously associated with Morgan Stanley, has at least one disclosable event. These events include one customer complaint, alleging that Coughlin 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 $500,000.00 on August 22, 2022.

Claimant alleges, inter alia, unsuitability with regards to investment in accounts – Jan 2009 – Nov 2021

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

FINRA BrokerCheck shows a final customer complaint on August 18, 2022.

Claimant alleges that in or about 2014, the FA made unsuitable purchases in technology stocks.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Dirk Rabenold (Rabenold), currently associated with LPL Financial LLC, has at least one disclosable event. These events include one customer complaint, alleging that Rabenold 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 $5,000.00 on August 18, 2022.

In September 2021, the customer directed a $450,000 wire transfer from the customer’s investment account to the customer’s personal bank account. The customer subsequently became a victim of a fraudulent telephone scam where the customer transferred the funds from the customer’s bank account to a third party in a fraudulent investment. The customer now alleges that she did not understand what she was doing at the time and the registered representative should not have honored the customer’s directive to transfer funds from the customer’s investment account to the customer’s personal bank account.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker William Heftel (Heftel), previously associated with Center Street Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Heftel 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 $250,000.00 on August 23, 2022.

Client alleges registered representative recommended an unsuitable product.

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

FINRA BrokerCheck shows a settled customer complaint on August 25, 2022.

ALLEGATIONS SPECIFICALLY RELATED TO GWG “L-BONDS”. CLAIM ALLEGES BREACH OF CONTRACT, VIOLATION OF STATE SECURITIES STATUTES, BREACH OF FIDUCIARY DUTY, CLAIMS UNDER COMMON LAW, AND VICARIOUS LIABILITY.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Trawnegan Gall (Gall), currently associated with Wealthforge Securities, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Gall 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 $450,000.00 on August 30, 2022.

Claimant alleges unsuitable recommendations by the defendant in 2018 and 2019. Breach of Fiduciary Duty, Violation of FINRA rules, Negligence, Breach of contract

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