Securities Lawyers Blog

Broker Christopher Mccarthy in Nylife Securities LLC Firm Has Customer Complaint

September 14, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Christopher Mccarthy (Mccarthy), currently associated with Nylife Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Mccarthy 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 $5,421.28 on March 28, 2023.

The policyowner alleges that the RR did not fully inform her of the product features and charges associated with variable annuity policies purchased in December 2022 and February 2023, respectively, and that the policies do not suit her needs. The policyowner has requested to terminate the variable annuity policies with no surrender charges or costs.

There are Recent Customer Complaints with Broker Bruce Ellison in Firm Securian Financial Services, INC.

September 14, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Bruce Ellison (Ellison), previously associated with Securian Financial Services, INC., has at least one disclosable event. These events include one customer complaint, alleging that Ellison 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 $30,000.00 on March 21, 2023.

An Equitable annuity was liquidated on 10/24/2021 at the recommendation of the representative. Representative failed to check on the gain in the annuity and the liquidation resulted in an unintended taxable event.

There are Recent Customer Complaints with Broker Hector Mercado in Firm UBS Financial Services INC.

September 14, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Hector Mercado (Mercado), currently associated with UBS Financial Services INC., has at least one disclosable event. These events include one customer complaint, alleging that Mercado 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 March 23, 2023.

Time frame: Unspecified\, \, Allegations: Claimant alleges the recommendation to invest in and hold Puerto Rico closed-end funds was unsuitable, and that his accounts were unsuitably over concentrated in Puerto Rico investments. He also alleges that the risks of investing in and concentration in Puerto Rico investments was misrepresented.

There are Recent Customer Complaints with Broker Gregory Foster in Firm UBS Financial Services INC.

September 14, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Gregory Foster (Foster), previously associated with UBS Financial Services INC., has at least one disclosable event. These events include one customer complaint, alleging that Foster 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 $300,000.00 on March 27, 2023.

Time Frame: February 22nd, 2023 to March 9th, 2023 \, \, What were the allegations against the individual? The client alleges that the FA failed to timely file a required form 144 that caused his trade to be cancelled. Due to this cancellation, the client suffered a significant loss.

Broker Robert Walker in Liberty Capital Investment Corporation Firm Has Customer Complaint

September 14, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Robert Walker (Walker), currently associated with Liberty Capital Investment Corporation, has at least one disclosable event. These events include one customer complaint, alleging that Walker 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 $572,100.00 on March 23, 2023.

A claim was filed against Liberty Capital Investment Corporation by clients who reside outside of the United States. The claim alleged Liberty Capital permitted extended family members of the account holders to withdraw funds without the account holder’s permission, despite said family members having Power of Attorney and Liberty Capital having signed instructions for the transactions. Robert Walker and Gary Purpura were not named as respondents in the claim, but the claim represented they were the individuals responsible for the accounts at issue. Liberty continues to assert that the claims are false, and that Liberty acted only upon signed documentation for each of the transactions. In order to avoid the expense of further litigation not covered by insurance, Liberty has settled in mediation for a fraction of the original claim without admitting any wrongdoing.

Broker Scott Trease in Sapere Wealth Creation, LLC Firm Has Customer Complaint

September 14, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a award / judgment customer complaint with a damage request of $100,000.00 on March 22, 2023.

The allegation in this civil matter is breach of fiduciary duty in violation of Section 206(2) of the Advisers Act. Mr. Trease, along with Sapere Wealth Management LLC (‘Sapere’), entered into Consent Agreements with the SEC reflecting the resolution of a civil matter. Both Mr. Trease and Sapere consented to the entry of a final judgment as part of a settlement of the civil case. In connection with the Consent Agreements, the SEC prepared and filed a complaint, describing the government’s allegations giving rise to the Agreements. Both Mr. Trease and Sapere, without admitting or denying the allegation of breach of fiduciary duty in the Complaint, consented to entry of a final judgment permanently restraining and enjoining violation of fiduciary duty and ordering compliance with a conduct-based injunction. Mr. Trease has consented to paying a civil penalty in the amount of $100,000 under Section 209(e) of the Investment Adviser Act of 1940. In connection with this matter, Mr. Trease mistakenly relied on an individual who convinced him of his sophisticated investment experience and financial acumen, along with his sincere profession of the Christian faith. The Order and Final Judgment was entered on April 26, 2023.

There are Recent Customer Complaints with Broker Jeffrey Smith in Firm Merrill Lynch, Pierce, Fenner & Smith Incorporated

September 14, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jeffrey Smith (Smith), previously associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated, 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 $404,076.00 on March 22, 2023.

Clients allege that financial advisor failed to act in their best interest and made certain unsuitable investments from July 2011 to present.

Broker Craig Lang in Stephens Firm Has Customer Complaint

September 14, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a pending customer complaint on March 24, 2023.

Client expressed concern regarding the deprecation of the value of his investment holdings and alleged a lack of communication between himself and Mr. Lang. The approximate dates leading to the allegation are December 2020 to December 2022.

There are Recent Customer Complaints with Broker Lawrence Krause in Firm Kw Securities Corporation

September 14, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Lawrence Krause (Krause), previously associated with Kw Securities Corporation, has at least one disclosable event. These events include one customer complaint, alleging that Krause 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 $125,000.00 on March 22, 2023.

July 21, 2022, 2,500 shares SHOP purchased @ $40.37 for client’s investment advisory account. Client subsequently claimed that the representative purchased too many shares resulting in a loss which the representative was responsible for.

There are Recent Customer Complaints with Broker Amy Tucker in Firm Edward Jones

September 13, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Amy Tucker (Tucker), currently associated with Edward Jones, has at least one disclosable event. These events include one customer complaint, alleging that Tucker 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 $10,000.01 on March 30, 2023.

Claimant alleges misrepresentation and other claims relating to the purchase of Lord Abbett Funds on or about March 15, 2022.