Securities Lawyers Blog

Broker George Hovany in Wintrust Investments LLC Firm Has Customer Complaint

January 15, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker George Hovany (Hovany), previously associated with Wintrust Investments LLC, has at least 2 disclosable events. These events include 2 customer complaints, alleging that Hovany 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 $7,626.46 on December 06, 2021.

Client is upset they cannot liquidate non-traded Real Estate Investment Trust. Client further alleges that representative misrepresented the product and its liquidity.

Broker James Hyland in Fortune Financial Services, INC. Firm Has Customer Complaint

January 15, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker James Hyland (Hyland), previously associated with Fortune Financial Services, INC., has at least one disclosable event. These events include one customer complaint, alleging that Hyland 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 $620,000.00 on December 06, 2021.

MML Investors Services, LLC was made aware, by the State of Connecticut Securities and Business Investments Division, of allegations that the registered representative received personal loans from a customer and the registered representative failed to repay all or part of these loans. The registered representative received these loans in various amounts and frequencies from 2001 to 2015.

There are Recent Customer Complaints with Broker Jon Lindberg in Firm Proequities, INC.

January 15, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jon Lindberg (Lindberg), previously associated with Proequities, INC., has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Lindberg 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 $50,000.00 on December 06, 2021.

Client alleges that representative recommended unsuitable options transactions resulting in portfolio losses.

Broker Eric Nicolassy in Network 1 Financial Securities INC. Firm Has Customer Complaint

January 14, 2026 | by Staff Attorney

According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Eric Nicolassy (Nicolassy), currently associated with Network 1 Financial Securities INC., has been subject to at least 2 disclosable events. These events include one customer complaint, one regulatory event. Several of those complaints against Nicolassy concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.

FINRA BrokerCheck shows a final customer complaint on March 24, 2022.

Without admitting or denying the findings, Nicolassy consented to the sanctions and to the entry of findings that he excessively and unsuitably traded a senior customer\\u2019s account. The findings stated that although the customer\\u2019s account had an average month-end equity of $106,293, Nicolassy executed purchases with a total principal value of $5,138,740 which resulted in annualized turnover ratios of more than 23. Collectively, the trades Nicolassy executed caused the customer to pay $71,409.09 in commissions and $10,410 in trade costs and margin interest, which resulted in an annualized cost-to-equity ratio in excess of 76 percent \\u2013 meaning the customer\\u2019s account would have to grow by more than 76 percent annually just to break even. As a result of Nicolassy\\u2019s unsuitable recommendations, the customer suffered more than $125,000 in losses. The findings also stated that Nicolassy exercised discretion in customers\\u2019 accounts without having obtained prior written authorization from the customers.

There are Recent Customer Complaints with Broker Adam Summers in Firm Lasalle St Securities, L.l.c.

January 14, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Adam Summers (Summers), previously associated with Lasalle St Securities, L.l.c., has at least 3 disclosable events. These events include 2 customer complaints, one regulatory event, alleging that Summers recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on April 08, 2022.

Without admitting or denying the findings, Summers consented to the sanctions and to the entry of findings that he engaged in forgery by signing the name of his supervisor on new account forms without permission. The findings stated that each form had already been signed by the customer at the time Summers signed his supervisor\\u2019s name. Summers submitted the signed forms to his member firm\\u2019s home office for approval.

There are Recent Customer Complaints with Broker Robert David in Firm Morgan Stanley

January 14, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Robert David (David), previously associated with Morgan Stanley, has at least 4 disclosable events. These events include 3 customer complaints, one regulatory event, alleging that David recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on April 07, 2022.

Without admitting or denying the findings, David consented to the sanctions and to the entry of findings that he falsified his customers\\u2019 account profile information. The findings stated that David falsely increased the net worth and liquid net worth of eight customers and changed the risk tolerance of one customer\\u2019s account in his member firm\\u2019s systems for maintaining account profile information for brokerage accounts. David did this in order to circumvent the firm\\u2019s solicitation restrictions and concentration limits for non-investment grade, fixed-income securities. By falsifying this information, David made the customers eligible for purchases of non-investment grade, fixed-income securities, for which they would have otherwise been ineligible under the firm\\u2019s procedures. As a result, David caused the firm to maintain inaccurate books and records. The findings also stated that David overconcentrated three customers in non-investment grade, fixed income securities. Specifically, David concentrated between approximately 32.72 and 71.18 percent of these customers\\u2019 liquid net worth in non-investment grade, fixed-income securities, which was inconsistent with the customers\\u2019 investment objectives and risk tolerances. These securities entailed a high degree of risk, including the risk of default, and subjected the customers to a substantial risk of loss. The findings also included that David exercised discretion in eight customers\\u2019 accounts without prior written authorization.

There are Recent Customer Complaints with Broker Yousuf Saljooki in Firm Worden Capital Management LLC

January 14, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Yousuf Saljooki (Saljooki), previously associated with Worden Capital Management LLC, has at least 8 disclosable events. These events include 3 customer complaints, 5 regulatory events, alleging that Saljooki recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on March 11, 2022.

Respondent Saljooki 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 Forrest Jones in Merrill Lynch, Pierce, Fenner & Smith Incorporated Firm Has Customer Complaint

January 14, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Forrest Jones (Jones), previously associated with Merrill Lynch, Pierce, Fenner & Smith Incorporated, has at least 3 disclosable events. These events include one customer complaint, 2 regulatory events, alleging that Jones recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

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

Respondent Jones 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 Eric Burton in Firm Cetera Advisors LLC

January 14, 2026 | by Staff Attorney

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

FINRA BrokerCheck shows a final customer complaint on March 23, 2022.

In June 2021, Mr. Burton entered into an AWC with FINRA relating to the sale of certain variable annuities. Solely as a result of that, the State of Florida determined to suspend his insurance license for a three-month period.

Broker Scott Hananel in Aegis Capital Corp. Firm Has Customer Complaint

January 14, 2026 | by Staff Attorney

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Scott Hananel (Hananel), previously associated with Aegis Capital Corp., has at least 4 disclosable events. These events include 3 customer complaints, one regulatory event, alleging that Hananel recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.

FINRA BrokerCheck shows a final customer complaint on March 29, 2022.

Without admitting or denying the findings, Hananel consented to the sanctions and to the entry of findings that he engaged in excessive and unsuitable trading in customer accounts. The findings stated that because Hananel decided which stocks to trade in his customers\\u2019 accounts and when to trade them, and exercised discretionary authority in connection with some of the trades in the accounts, he controlled the volume and frequency of trading in, and therefore exercised de facto control over, his customers\\u2019 accounts. Hananel\\u2019s short term trading in the customers\\u2019 accounts was excessive and unsuitable given the customers\\u2019 investment profiles, generating significant losses and trading costs in the form of commissions, markups and markdowns. In total, the customers, some of whom were senior citizens, paid commissions and trading costs of $1,473,118.00 and incurred losses of $2,103,176. The findings also stated that Hananel exercised discretionary trading authority in customer accounts without having obtained prior written authorization from the customers or approval from his member firm to treat the accounts as discretionary.