Articles Posted in Reg BI

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

FINRA BrokerCheck shows a settled customer complaint on December 16, 2024.

The client alleges unauthorized trading from 12/11/2024-12/13/2024.

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Garry Martin (Martin), currently associated with Raymond James Financial Services, Inc., has at least one disclosable event. These events include one customer complaint, alleging that Martin 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 $191,000.00 on December 19, 2024.

The client alleged the advisor set up accounts incorrectly and disbursed funds to wrong account types causing a taxable event. Allegation Activity Date: 12/13/2024.

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Arthur Defilippo (Defilippo), currently associated with Revere Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Defilippo 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 $5,000.00 on December 20, 2024.

No specific allegations made in the complaint. Request for funds in excess of current account value was made. Attorney included a recommendation to Mr. DeFilippo to “secure counsel familiar with both securities fraud and elder financial abuse.” Allegations would appear to stem back to original account opening, which pre-dates January 2018.

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Stephan Edwards (Edwards), currently associated with Ameriprise Financial Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Edwards 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 $5,000.00 on December 23, 2024.

The client alleged that he never authorized the wholesale re-alignment of his portfolio from Strategic Portfolio Service (SPS) Advantage to an Active Portfolio (AP) in early 2024.

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

FINRA BrokerCheck shows a pending customer complaint on December 23, 2024.

CLIENT ALLEGES THAT THE DUPLICATE RMD DISTRIBUTION IMPACTED THE TAX ADVANTAGE PROVIDED BY HIS ROTH IRA. THIS ACTIVITY OCCURRED BETWEEN DECEMBER 11, 2024, AND DECEMBER 23, 2024.

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Gregory Mueller (Mueller), currently associated with Parkland Securities, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Mueller 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 $48,000.00 on December 27, 2024.

Clients allege that the closing of their joint account was mishandled in 2022. Registered Representatives vehemently deny any wrongdoing. Upon information and belief, the alleged losses occurred after funds were deposited into the account through a new, unaffiliated financial professional, without the Registered Representatives’ knowledge or any act on their part in 2024.

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Brian Brown (Brown), previously associated with X-change Financial Access, LLC, has at least one disclosable event. These events include one tax lien, alleging that Brown recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on December 23, 2024.

Brian Brown violated Cboe Rule 5.91 – Floor Broker Responsibilities in that Brown, acting as a Floor Broker on behalf of XCHG, failed to use due diligence to ensure he was executing the portion of the orders for Firm A as contra at the best price or prices available and in accordance with the Rules. Additionally, Brown executed orders over which he had discretion as to the choice of the specific SPX options series to be bought or sold; the number of contracts to be bought or sold; and whether such transaction was a buy or sell transaction. Brown also violated Cboe Rules 5.80(b) – Admission to and Conduct on the Trading Floor and 8.1 – Just and Equitable Principles of Trade by Brown in that by and through the Arrangement and/or the creation and execution of orders pursuant to this Arrangement, Brown: 1) engaged in conduct inconsistent with the maintenance of a fair and orderly market, apt to impair public confidence in the operation of the Exchange, and inconsistent with the ordinary and efficient conduct of business; 2) May have prevented in-crowd market participants the opportunity to participate in and/or participate fully in the contra sides of orders to which they had priority over Firm A and enabled Firm A to receive fills as a contra party to orders to which Firm A had no priority; and 3) circumvented ordinary standards of care related to order handling, open outcry trading, and Floor Broker duties and responsibilities as set out in Exchange Rules.

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Daniel Hamlet (Hamlet), currently associated with LPL Financial LLC, has at least one disclosable event. These events include one customer complaint, alleging that Hamlet 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 $547,000.00 on December 24, 2024.

Client alleges that his signature was forged on December 5, 2023, placing him in a fixed annuity that he did not want.

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Anthony Cottone (Cottone), previously associated with Landolt Securities, Inc., has at least one disclosable event. These events include one customer complaint, alleging that Cottone 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 23, 2024.

Unsuitability, failure to supervise

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Tony Barouti (Barouti), currently associated with Emerson Equity LLC, has at least 27 disclosable events. These events include 27 customer complaints, alleging that Barouti recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a pending customer complaint on December 23, 2024.

Breach of contract and warranties, promissory estoppel, consumer protection and deceptive trade practices act, violation of state securities statutes, fraud, breach of fiduciary duty, negligence and gross negligence, misrepresentation/omission and negligent misrepresentation/omission, unjust enrichment, common law, statutory claims and damages, vicarious and control person liability.

Contact Information