When brokers violate FINRA rules or federal securities regulations—by stealing customer funds, recommending unsuitable investments, or refusing to provide on-the-record testimony to FINRA—the Financial Industry Regulatory Authority holds them to account. FINRA publicizes disciplinary actions taken against brokers in their monthly round-up. The full December 2019 report can be viewed here. In the most serious […]

FINRA Disciplinary Actions November 2019 When brokers violate FINRA rules or federal securities regulations—by borrowing money from customers, forging documents, or refusing to provide on-the-record testimony to FINRA—the Financial Industry Regulatory Authority holds them to account. FINRA publicizes disciplinary actions taken against brokers in their monthly round-up. The full November 2019 report can be viewed […]

On October 21, 2019, Ronald Roach (CRD#: 3216784) pled guilty to two felonies: conspiracy to commit wire fraud, as well as violations of Section 17(a) of the Securities Act, in conjunction with his involvement in a massive Ponzi scheme, according to his BrokerCheck record accessed on December 18, 2019 He entered his plea before the […]

Robert Gianchiglia (CRD#: 2117250), a registered representative with USA Financial Securities Corporation, is current involved in a $200,000 customer dispute, according to his BrokerCheck report accessed on January 7, 2020. Why is Robert Gianchiglia involved in this customer dispute? Clients, who filed the complaint on November 19, 2019, allege that Robert Gianchiglia misrepresented a private […]

A three-person Financial Industry Regulatory Authority (FINRA) arbitration panel has awarded $11 million to Mark Munizzi, a former market operations supervisor at UBS in Chicago who claimed that UBS defamed him when they terminated him in April 2018. What allegedly happened in this case? In February 2019, Mark Munizzi was overseeing two accounts, which declined […]

Mercer Hicks (CRD#: 245170), a registered representative with Southeast Investments, N.C., Inc., has found himself the subject of a Financial Industry Regulatory Authority (FINRA) complaint over Real Estate Investment Trusts (REITs), according to his BrokerCheck record accessed on January 14, 2020. According to a December 20, 2019 complaint, FINRA is alleging that Mercer Hicks duped […]

Darren Oglesby (CRD#: 2480135), a registered representative with Money Concepts Capital Corp. (CRD#: 12963) in Monroe, Louisiana, is currently involved in a $100,000 customer dispute over suitability, according to his BrokerCheck record accessed on January 6, 2010. What happened to lead to Darren Oglesby’s involvement in this $100,000 customer dispute? Customers alleged that the investment […]

Mike Sievert (CRD#: 2127441), a registered representative with Arkadios Capital (CRD#: 282710) in Jacksonville, Florida, is currently involved in two pending customer disputes over GPB private placements. The customers in these disputes are seeking damages totaling $700,000, according to his BrokerCheck record accessed on January 3, 2020. What happened to lead to these disputes? On […]

Dennis Nakamura (CRD#: 819626), formerly a registered representative with McNally Financial Services Corporation (CRD#: 121196) in Moraga, California, has been barred from the securities industry, according to his BrokerCheck record accessed on January 6, 2020. What happened to lead to Dennis Nakamura’s permanent bar from the securities industry? He refused to provide on-the-record testimony to […]

Sam Rine (CRD#: 4305797), a registered representative with Raymond James & Associates, Inc. (CRD#: 705) in West Palm Beach, Florida, is currently involved in a $7 million customer dispute over unsuitable investments, according to his BrokerCheck record accessed on January 3, 2020. What happened to lead to this dispute? The client, who filed a customer […]

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