Securities Lawyers Blog

There are Recent Customer Complaints with Broker John Butler in Firm Pruco Securities, LLC.

August 9, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a final customer complaint on March 19, 2024.

Without admitting or denying the findings, Butler consented to the sanctions and to the entry of findings that he failed to provide prior written notice of his consulting services-related OBAs to his member firm. The findings stated that in addition to engaging in an approved insurance business, Butler also engaged in a consulting services business whereby he assisted a firm customer in selling portions of the customer’s civil money judgment awarded to him in a litigation to a third party. The customer paid over $538,000 to Butler for these unapproved consulting services. Butler also falsely affirmed on annual compliance questionnaires that he had completely and accurately disclosed his outside business activities to the firm.

There are Recent Customer Complaints with Broker Michael Rosalia in Firm Sw Financial

August 9, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a final customer complaint on June 20, 2024.

Rosalia was named a respondent in a FINRA complaint alleging that he failed to appear and provide on-the-record testimony requested by FINRA in connection with its investigation into whether he engaged in excessive and unsuitable trading in his customers’ accounts.

Broker Michael Fahsholtz in Stifel, Nicolaus & Company, Incorporated Firm Has Customer Complaint

August 9, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Michael Fahsholtz (Fahsholtz), previously associated with Stifel, Nicolaus & Company, Incorporated, has at least one disclosable event. These events include one regulatory event, alleging that Fahsholtz recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on May 26, 2024.

Suitability violations in recommending high concentrations of junk bonds to clients

There are Recent Customer Complaints with Broker Robert Gleason in Firm Ifp Securities, LLC

August 9, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a final customer complaint on April 05, 2024.

Without admitting or denying the findings, Gleason consented to the sanctions and to the entry of findings that he willfully violated the Best Interest Obligation under Rule 15l-1(a)(1) of the Securities Exchange Act of 1934 by recommending a series of transactions in the account of a retail customer that was excessive in light of the customer’s investment profile and, therefore, was not in the customer’s best interest. The findings stated that in recommending these transactions, Gleason placed his interests ahead of the interests of the customer. At the time of the trading, the customer was in her early sixties, and had an investment profile reflecting an income of $50,000 and a liquid net worth of $700,000. Gleason’s recommendations for the customer involved a pattern of in-and-out, short-term trading, and he failed to consider the cumulative costs of his trading. As a result, the customer paid more than $28,000 in commissions and trade costs during an 11-month period.

There are Recent Customer Complaints with Broker Paul Mcgonigle in Firm LPL Financial LLC

August 9, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a final customer complaint on June 06, 2024.

The Securities and Exchange Commission (‘Commission’) deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted against Paul R. McGonigle (‘McGonigle’ or ‘Respondent’). In anticipation of the institution of these proceedings, Respondent has submitted an Offer of Settlement (the ‘Offer’) which the Commission has determined to accept. The Commission finds that on or about February 3, 2023, McGonigle entered a guilty plea before the United States District Court for the District of Massachusetts in United States v. McGonigle, Crim. No. 1:21-cr-10181. McGonigle pled guilty to three counts of wire fraud in violation of 18 U.S.C. \\u00a7 1343, one count of mail fraud in violation of 18 U.S.C. \\u00a7 1341, one count of aggravated identity theft in violation of 18 U.S.C. \\u00a7 1028A(a)(1), one count of investment adviser fraud in violation of 15 U.S.C. \\u00a7\\u00a7 80b-6 & 80b-17, and two counts of money laundering in violation of 18 U.S.C. \\u00a7 1957. As part of his guilty plea, McGonigle agreed to a sentencing enhancement because he admitted his offenses ‘involved the violation of securities laws and, at the time of the offense, [McGonigle] was a registered broker or person associated with a broker or dealer and an investment advisor or person associated with an investment advisor.’ Additionally, the counts of the indictment to which McGonigle pled guilty alleged, among other things, that between 2015 and 2021, McGonigle stole at least $1.4 million from the accounts of at least fifteen clients, including those who were elderly or in poor physical and mental health. To carry out his scheme, McGonigle caused unauthorized withdrawals from his clients’ annuities by posing as clients on calls with their annuity companies or by signing their names on forms requesting withdrawals. He also induced clients to sign documents requesting the surrender of their annuities and the transfer of those funds to McGonigle, by falsely representing that he would invest those funds on their behalf. Instead, McGonigle used the funds for personal and business expenses.

Broker James Mackellar in Sagepoint Financial, INC. Firm Has Customer Complaint

August 9, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a final customer complaint on May 01, 2024.

Without admitting or denying the findings, Mackellar consented to the sanction and to the entry of findings that he refused to provide information or documents requested by FINRA in connection with its investigation into a complaint. The findings stated that the complaint was submitted to FINRA concerning Mackellar’s alleged OBAs involving a customer’s estate and his indirect beneficial interest in that customer’s accounts.

Broker Andrew Rome in Signature Estate Securities, LLC Firm Has Customer Complaint

August 8, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Andrew Rome (Rome), currently associated with Signature Estate Securities, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Rome 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 $17,332.15 on August 01, 2024.

Breach of Fiduciary Duty (January 1, 2021-through the termination of the advisory relationship July 8, 2024)\, A. Failure to adequately disclose commissions.\, B. The life insurance policy was not in your ‘best interest’; not suitable and can’t afford it.\, C. Made misleading statements / inappropriate sales tactics.\, D. Represented fees would be waived (on the advisory side) and they were not.

Broker Kimberly Carson in Principal Securities, INC. Firm Has Customer Complaint

August 8, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Kimberly Carson (Carson), previously associated with Principal Securities, INC., has at least 2 disclosable events. These events include 2 regulatory events, alleging that Carson recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on July 09, 2024.

Respondent Carson failed to pay fines of $5,000 in FINRA Case #2022074541501.

Broker Aramis Perez in Wells Fargo Clearing Services, LLC Firm Has Customer Complaint

August 8, 2025 | by Staff Attorney

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

FINRA BrokerCheck shows a settled customer complaint on June 24, 2024.

Customer complained that the financial advisor assured him that only about half of a stock position would be sold in a rebalancing by a money manager but the full position was sold, causing tax ramifications on capital gains. (4/11/2024-6/24/2024)

There are Recent Customer Complaints with Broker Steve Moise in Firm Joseph Stone Capital L.l.c.

August 8, 2025 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Steve Moise (Moise), previously associated with Joseph Stone Capital L.l.c., has at least one disclosable event. These events include one regulatory event, alleging that Moise recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on June 24, 2024.

Without admitting or denying the findings, Moise consented to the sanctions and to the entry of findings that he willfully violated the Care Obligation of Rule 15l-1 of the Securities Exchange Act of 1934 (Regulation Best Interest or Reg BI) by recommending a series of transactions in a customer’s account that was excessive and not in the customer’s best interest. The findings stated that Moise recommended that the customer execute 199 trades in the account over the next several months. On several occasions, Moise recommended that the customer sell a security shortly after purchasing it, causing the customer to suffer a realized loss but generating commissions for Moise. The customer suffered realized losses and paid more than $52,000 in commissions and trade costs. Moise’s member firm settled with the customer through mediation.