Securities Lawyers Blog

There are Recent Customer Complaints with Broker Tariq Sales in Firm Spartan Capital Securities, LLC

January 11, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Tariq Sales (Sales), previously associated with Spartan Capital Securities, LLC, has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Sales recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on May 31, 2023.

Respondent Sales failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.

There are Recent Customer Complaints with Broker Joel Riedel in Firm Nylife Securities LLC

January 11, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Joel Riedel (Riedel), previously associated with Nylife Securities LLC, has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Riedel recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on December 30, 2022.

Without admitting or denying the findings, Riedel consented to the sanctions and to the entry of findings that he caused solicited UIT transactions in accounts to be marked by the trade desk as unsolicited even though they were solicited. The findings stated that Riedel’s conduct continued despite being warned by his member firm that solicited transactions in UITs were not permitted. By causing the mismarking of the trades, Riedel caused his firm to maintain inaccurate books and records. The findings also stated that Riedel sold a UIT and purchased a different UIT in a customer’s account without first getting authorization from the customer. Riedel earned sales charges of $2,094 on the transactions. The customer complained to the firm, and it settled with the customer. Later, the firm disciplined Riedel by issuing him a severe reprimand.

Broker Mark Boucher in Raymond James Financial Services, INC. Firm Has Customer Complaint

January 11, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Mark Boucher (Boucher), previously associated with Raymond James Financial Services, INC., has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Boucher recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on December 13, 2022.

Respondent Boucher failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.

Broker Dana Davis in Alexander Capital, L.p. Firm Has Customer Complaint

January 11, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Dana Davis (Davis), previously associated with Alexander Capital, L.p., has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Davis recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on March 31, 2023.

Without admitting or denying the findings, Davis consented to the sanctions and to the entry of findings that he recommended unsuitable use of margin in customer accounts. The findings stated that Davis recommended the extensive use of margin in his customers’ accounts to leverage additional buying power while charging commissions on both buy and sell transactions. Davis’ recommendations to engage in unsuitable trading on margin exposed his customers to significant risk, increased costs, and sizeable losses in their accounts. Davis lacked a reasonable basis to believe that using margin in this way was suitable given the customers’ investment objectives, financial situation, and needs. In total, Davis’ customers realized trading losses of $108,016.82 and paid $150,067.15 in costs, commissions, and margin interest for trades executed on margin in their accounts.

There are Recent Customer Complaints with Broker Brian Manning in Firm Morgan Stanley

January 11, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Brian Manning (Manning), currently associated with Morgan Stanley, has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Manning recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on April 04, 2023.

In a life insurance broker renewal application form, Mr. Manning failed to list that he was a party in a FINRA customer arbitration proceeding.

Broker Phil Donahue in PFS Investments INC. Firm Has Customer Complaint

January 11, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Phil Donahue (Donahue), currently associated with PFS Investments INC., has at least 4 disclosable events. These events include one customer complaint, 3 regulatory events, alleging that Donahue recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on June 12, 2023.

THE KENTUCKY DEPARTMENT OF INSURANCE TERMINATED MR. DONAHUE’S NON-RESIDENT INSURANCE LICENSE BASED ON VIOLATIONS OF KRS 304.9-140(7) WHICH REQUIRES INSURANCE LICESEES TO MAINTAIN THE APPLICABLE LICENSE IN HIS OR HER HOME STATE IN ORDER TO GOLD A KENTUCKY NON-RESIDENTIAL LICENSE.

Broker Donald Smith in Provident Private Capital Partners, INC. Firm Has Customer Complaint

January 11, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Donald Smith (Smith), previously associated with Provident Private Capital Partners, INC., has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Smith recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on March 27, 2023.

Respondent Smith failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.

There are Recent Customer Complaints with Broker Jonathan Mayer in Firm Endeavor Capital

January 10, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jonathan Mayer (Mayer), currently associated with Endeavor Capital, has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Mayer recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on January 12, 2024.

Without admitting or denying the findings, Mayer consented to the sanctions and to the entry of findings that he engaged in an OBA without providing his member firm prior written notice and then continued his OBA after the firm rescinded its approval of the activity. The findings stated that Mayer received approximately $90,000 in direct compensation for his outside business consulting work, which included business plan creation, financial modeling, strategic planning, market research, and general business advice. None of Mayer’s outside business activities involved securities or firm customers.

Broker Lilia Nia in Purshe Kaplan Sterling Investments Firm Has Customer Complaint

January 10, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Lilia Nia (Nia), previously associated with Purshe Kaplan Sterling Investments, has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Nia recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on August 02, 2023.

Without admitting or denying the findings, Nia consented to the sanctions and to the entry of findings that she effected unauthorized transactions in a community bank account, which was her member firm customer, without obtaining instructions from any person authorized to conduct trading for the bank. The findings stated that Nia accepted orders for the bank’s trading from a firm registered representative who was not authorized to place orders for the bank and permitted him to place orders for the bank. As an advisory board member for the bank, the other representative was not authorized to accept or place securities orders for the bank’s accounts due to the conflict of interest posed by his affiliation with the bank and the firm. The trading effected by Nia, based upon instructions from the other representative, caused the bank to take excessive risk. The trading for the bank generated approximately $1 million in commissions for Nia, more than $370,000 of which she transmitted to the other representative through a series of separate business and financial transactions. Because the firm lacked its own fixed-income trading desk, it was frequently required to use a ‘broker’s broker’ to acquire fixed income securities for the bank, which resulted in it paying approximately $1.25 million in markups to the broker’s broker, in addition to commissions to the firm. As a result of this trading, the bank also spent more than $600,000 to remediate the risk of its investment portfolio.

Broker Eduardo Martinez in Merrill Lynch, Pierce, Fenner & Smith Incorporated Firm Has Customer Complaint

January 10, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Eduardo Martinez (Martinez), currently associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Martinez recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on August 22, 2023.

Respondent Martinez failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.