Articles Posted in Reg BI

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Dan Avery (Avery), previously associated with Waddell & Reed, has at least one disclosable event. These events include one customer complaint, alleging that Avery 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 $73,500.00 on June 16, 2020.

Clients, through attorney, allege that, contrary to representations and assurances, the RR did not execute sell orders on March 6, 2020, resulting in loses to their accounts.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Ezri Shechter (Shechter), previously associated with Spencer-winston Securities Corporation, has at least one disclosable event. These events include one customer complaint, alleging that Shechter 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 $25,000.00 on June 18, 2020.

Unauthorized trading, use of discretion, suitability

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Melisa Bechara Fagundo (Bechara Fagundo), previously associated with Popular Securities, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Bechara Fagundo 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 $180,000.00 on June 18, 2020.

Claimant alleges that Financial Consultant investment recommendations to purchase and to hold P.R. Securities were unsuitable in light of the clients’ risk tolerance. Claimants also allege that recommendations made by the Financial Consultant were particularly egregious in light of Puerto Rico’s well known deteriorating financial condition.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Mariondy Fernandez (Fernandez), previously associated with Santander Securities LLC, 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 with a damage request of $500,000.00 on June 16, 2020.

Client’s allege over-concentration, unsuitability, breach of fiduciary duty, violations of securities laws and rules, breach of contract, negligence, fraud, false inducement to inaction, failure to supervise, breach of duty of good faith and fair dealing (Puerto Rico bonds, open-end funds, and closed-end funds). Includes request for rescission, punitive damages, interest, costs, fees.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Kenneth Barroga (Barroga), previously associated with Crown Capital Securities, L.p., has at least one disclosable event. These events include one customer complaint, alleging that Barroga 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 $180,000.00 on June 22, 2020.

The customer alleges lack of suitability, breach of fiduciary duty, misrepresentation and omissions of material facts and lack of due diligence in connection with transactions in alternative investment products.

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

FINRA BrokerCheck shows a settled customer complaint on June 16, 2020.

Claimants allege that MLP investments made in their discretionary investment advisory accounts while at RBC Capital Markets were not suitable for their investment objectives. Upon transfer to BB&T Securities in 2016, the accounts maintained investments in question. The claimants have alleged failure to treat Claimants justly and equitably, negligent misrepresentation, omission and supervision, fraudulent misrepresentation and omission, breach of fiduciary duty, breach of contract, and violation of federal and state securities laws.

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

FINRA BrokerCheck shows a settled customer complaint on June 19, 2020.

Multi-claimant case, alleging unsuitability, misrepresentation, and lack of due diligence relative to UDF IV.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Christopher Cueter (Cueter), currently associated with Ameriprise Financial Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Cueter 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 $6,921.00 on June 17, 2020.

Client alleges that she overpaid for her mutual fund investments by purchasing and holding Class C shares, from various purchase dates starting in October 2011, versus lower cost share alternatives.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Lazaro Fernandez Paredes (Fernandez Paredes), previously associated with Nationwide Planning Associates INC., has at least one disclosable event. These events include one customer complaint, alleging that Fernandez Paredes 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 June 16, 2020.

Client’s allege over-concentration, unsuitability, breach of fiduciary duty, violations of securities laws and rules, breach of contract, negligence, fraud, false inducement to inaction, failure to supervise, breach of duty of good faith and fair dealing (Puerto Rico bonds, open-end funds, and closed-end funds). Includes request for rescission, punitive damages, interest, costs, fees.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Fabio Battaglia (Battaglia), currently associated with Osaic Wealth, INC., has at least one disclosable event. These events include one customer complaint, alleging that Battaglia 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 $5,960.94 on June 19, 2020.

Customer alleges misrepresentation in the sale of an insurance product causing a taxable event.

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