Articles Posted in Reg BI

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Matthew Franchina (Franchina), currently associated with Moloney Securities Co., INC., has at least one disclosable event. These events include one customer complaint, alleging that Franchina 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 September 02, 2022.

Suitability/negligence

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

FINRA BrokerCheck shows a settled customer complaint on September 02, 2022.

The executor of the estate complained that the financial advisor assured him that his account would not be at risk and misled him to believe the recommended account would be safe. (11/3/2020-9/2/2022)

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Carlos Cortez (Cortez), previously associated with World Equity Group, INC., has at least 19 disclosable events. These events include 19 customer complaints, alleging that Cortez 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 $11,500.00 on September 06, 2022.

Client invested in a cryptocurrency fund that was recommended by the Advisor. The fund turned out to be a fraudulent investment.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Audrey Kuwabara (Kuwabara), previously associated with Arque Capital, Ltd., has at least one disclosable event. These events include one customer complaint, alleging that Kuwabara 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 $1,700,000.00 on September 08, 2022.

Claimant has purchased a number of GWG products since 2011. GWG filed Chapter 11 bankruptcy as a debtor in possession in April 2022. Claimant files this claim against Respondent Arque for a number of causes of action including but not limited to breach of fiduciary duty, breach of contract, negligence and violation of various state and federal securities laws. Claimant files this claim against Respondents Kuwabara, Ning and Scanlon for control person liability. Respondents deny all allegations in their entirety.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Peter Maldjian (Maldjian), previously associated with National Securities Corporation, has at least one disclosable event. These events include one customer complaint, alleging that Maldjian 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 $116,279.00 on September 06, 2022.

Allege that RR & Firm improperly authorized transactions with the consent of both co-trustees.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Kevin Asano (Asano), currently associated with Cetera Advisors LLC, has at least one disclosable event. These events include one customer complaint, alleging that Asano 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 September 09, 2022.

Claimants allege financial adviser recommended unsuitable investments. Claimants further allege causes of action of suitability, misrepresentation, breach of contract and failure to supervise.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Kevin Wilson (Wilson), previously associated with Sw Financial, has at least 3 disclosable events. These events include 3 customer complaints, alleging that Wilson 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 $185,000.00 on September 06, 2022.

Allege RR misrepresented investments and purchased speculative investments that were not suitable

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Richard Scheller (Scheller), previously associated with Centaurus Financial, INC., has at least one disclosable event. These events include one customer complaint, alleging that Scheller 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 $45,000.00 on September 06, 2022.

During 2015, the customer alleges that the Registered Representative recommended an unsuitable, high-risk or speculative and illiquid investment.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Hodo Salovic (Salovic), previously associated with A.g.p. / Alliance Global Partners, has at least one disclosable event. These events include one customer complaint, alleging that Salovic 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 $6,000.00 on September 02, 2022.

Client claims former RR overconcentrated his account in GRPN and MRO and has sustained losses of $6,000

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Kamran Aghili (Aghili), currently associated with Osaic Wealth, INC., has at least one disclosable event. These events include one customer complaint, alleging that Aghili 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 September 01, 2022.

Customer alleges that representative went forward with variable annuity purchase contrary to her instructions.

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