Search Results for: Breach of Fiduciary Duty

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JPMorgan Chase & Co (JPMorgan) is under investigation by the Securities and Exchange Commission (SEC) about a potential conflict of interest and breach of fiduciary duty with respect to its sales of mutual funds and other proprietary products. According to InvestmentNews, JPMorgan received subpoenas and inquiries from the SEC and other government authorities about the […]

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The U.S. Supreme Court made its decision on a key 401(k) lawsuit, Tibble v. Edison. This suit was initially filed in 2007 by employees against their employers for having mutual funds with excessive fees in the 401(k) plan. Their retirement plan had a selection of 40 funds, six of which were retail share class funds […]

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Mark Kaplan, a former registered representative with Vanderbilt Securities, submitted a Letter of Acceptance, Waiver, and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was permanently barred from association with any FINRA member firm in all capacities.  Mark Kaplan, of Merrick, New York, was found by FINRA to have engaged in […]

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Larry Boggs, former registered representative with Ameriprise Financial Inc. (Ameriprise) submitted a Letter of Acceptance, Waiver, and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was permanently barred from association with any FINRA member firm in all capacities.  Larry Martin Boggs, of Dallas, Texas, was found by FINRA to have engaged […]

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Joseph Farah, a former registered representative with Gold Coast Securities, was named a Respondent in a Financial Industry Regulatory Authority (FINRA) complaint for allegedly engaging in a fraudulent churning scheme, causing his customer to suffer substantial losses.  Joseph C. Farah, of Hacienda Heights, California, is alleged by FINRA to have acted with intent to defraud […]

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Matthew Maczko, a former registered representative with Wells Fargo Advisors, LLC, submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was barred from association with any FINRA member in all capacities amid allegations that he made unsuitable recommendations and excessively traded four brokerage accounts held […]

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Kelly Clayton Althar, a former registered representative with Financial West Group, submitted an Offer of Settlement to the Financial Industry Regulatory Authority (FINRA) in which he was barred from association with any FINRA member in all capacities amid allegations that he made unsuitable recommendations and excessively traded two accounts held by an elderly customer. According […]

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John Kakonikos, former registered representative with Caldwell International Securities Corp., submitted a Letter of Acceptance, Waiver, and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was suspended for 18 months, assessed a deferred fine of $10,000, and ordered to pay restitution of $72,524.53, plus interest, to his customer.  John Billy Kakonikos, […]

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Richard Lee, former registered representative with Caldwell International Securities Corp., submitted an Offer of Settlement to the Financial Industry Regulatory Authority (FINRA) in which he was suspended for 18 months and required to requalify by exam before reentering the securities industry in any capacity.  Richard Lee, of West Nyack New York, was found by FINRA […]

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Former Caldwell International Securities Corp. broker, Alex Etter, submitted an Offer of Settlement to the Financial Industry Regulatory Authority (FINRA) in which he was assessed a deferred fine of $10,000, suspended for two years, and ordered to pay disgorgement of ill-gotten gains of $227,395.45 and restitution to customers.  Without admitting or denying FINRA’s allegations, Alex […]