Articles Posted in Reg BI

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jason Gatts (Gatts), currently associated with Osaic Wealth, INC., has at least one disclosable event. These events include one customer complaint, alleging that Gatts 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 $2,167,458.00 on October 12, 2022.

The plaintiff alleges that the representative mishandled   beneficiary change forms and misrepresented when the change forms were received causing the plaintiff to lose one half of the inheritance at issue. Allegations include breach of fiduciary duty, negligent undertaking, negligent representation and gross negligence.

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

FINRA BrokerCheck shows a settled customer complaint on October 12, 2022.

Claimant alleges unsuitable investment recommendations.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Yoon Ji Park (Park), currently associated with UBS Financial Services INC., has at least one disclosable event. These events include one customer complaint, alleging that Park 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 $511,000.00 on October 17, 2022.

Time Frame: October 29th 2021 to November 15th, 2021.\, What were the allegations against the individual? The client alleges his instructions to transfer shares of his security from his trust account at Fidelity to his trust account at UBS, was not followed.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Grason Lanz (Lanz), previously associated with Valmark Securities, INC., has at least one disclosable event. These events include one customer complaint, alleging that Lanz 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 October 14, 2022.

Client alleges rep fully liquidated his account on 6/21/2022 in direct contravention to his directives.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Adam Smith (Smith), previously associated with Pruco Securities, LLC., has at least one disclosable event. These events include one customer complaint, alleging that Smith 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 $6,889.45 on October 17, 2022.

Customer Alleges that the rep did not fully disclose all the facts regarding tax consequences as the result of a transaction.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Adrian Holmes (Holmes), currently associated with Cetera Investment Services LLC, has at least one disclosable event. These events include one customer complaint, alleging that Holmes 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 $8,199.00 on October 13, 2022.

The customer alleged RR Holmes mispresented the terms and conditions of the fixed annuity he purchased in or around September 2017 using proceeds from liquidated mutual funds. Specifically, the customer did not understand that the fixed annuity policy was not liquid.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Cynthia Barreira (Barreira), currently associated with Nylife Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Barreira 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 $175,000.00 on October 17, 2022.

Claimant alleges that the recommendation to purchase 2 variable annuities in July and August 2021 was not consistent with her need for current income and/or liquidity. Claimant requests compensatory damages in the amount of $175,000, plus interest, costs reimbursement of withdrawal penalties and commission disgorgement.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Shillin (Shillin), previously associated with A.g.p. / Alliance Global Partners, has at least 5 disclosable events. These events include 4 customer complaints, one regulatory event, alleging that Shillin 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 $455,923.90 on October 13, 2022.

Six former clients of Shillin allege misrepresentations made by Shillin regarding the purchase of  SpaceX stock that, in fact, they never purchased. Claimants are seeking damages in the form of profits they allegedly would have earned if that purchase had been made by Shillin on their behalf.

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

FINRA BrokerCheck shows a pending customer complaint on December 01, 2022.

The client contends that registered rep did not clearly communicate the time horizon of the investment. Arbitration allegations are Negligence, breach of fiduciary duty, violation of California corporations code and financial elder abuse.

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According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Gregory Degraeve (Degraeve), currently associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has at least one disclosable event. These events include one customer complaint, alleging that Degraeve recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a settled customer complaint on December 12, 2022.

Client alleges investment recommendations made by financial advisor from August 2020 to December 2022 were not in their best interest.

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