Search Results for: Unsuitable Recommendations

Xavier Patino of Burr Ridge, Illinois submitted a Letter of Acceptance, Waiver, and Consent (AWC) in which Patino was fined and suspended by the Financial Industry Regulatory Authority (FINRA) for allegedly making an unsuitable recommendation and making guarantees against loss in violation of FINRA Rules 2010 and 2150(b). From October 2012 through May 2017, Patino […]

Kyusun Kim of San Diego, California submitted a Letter of Acceptance, Waiver and Consent (AWC) in which he was barred by the Financial Industry Regulatory Authority (FINRA) for allegedly making unsuitable recommendations in violation of NASD Rules 3110, 2310 and 2110 and FINRA Rules 4511, 2111 and 2010. In February 2006 Kyusun Kim joined Independent […]

Andrew Jay Lowe of Leesburg, Alabama submitted a Letter of Acceptance, Waiver, and Consent (AWC) in which he was fined and suspended by the Financial Industry Regulatory Authority (FINRA) for allegedly recommending unsuitable trades and failing to timely amend his Uniform Application for Securities Industry Registration or Transfer (“Form U4”). From January 2009 until September […]

David Raymond Colflesh submitted a Letter of Acceptance, Waiver, and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was suspended and ordered to pay 34,546.98 in deferred disgorgement of commissions received. David Colflesh, of Tarkio, Missouri, was registered with NYLife Securities from 1982 until 2016 as a variable contract representative and […]

Eric Howard Kunis, of South Setauket, New York, submitted a Letter of Acceptance, Waiver, and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which Kunis was assessed a deferred fine of $2,500, suspended for two months and ordered to pay $2,189.78 in restitution to his customers. From 2002 through 2018, Kunis was registered […]

John Scott Simoncic of Carlsbad, California submitted a Letter of Acceptance, Waiver, and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was barred for willfully violating Section 10(b) of the Securities Exchange Act of 1934, Exchange Act Rule 10b-5 and FINRA Rules 2020, 2111 and 2010. From May 2014 until November […]

Richard Stephen Hughes submitted a submitted of Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was fined and suspended for unsuitable recommendations. In October of 2011, Hughes registered as a General Securities Representative and General Securities Principal with Wells Fargo. According to FINRA, between April 2015 […]

Richard Seefried, of Spokane, Washington, submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was fined and suspended for unsuitable recommendations of convertible notes. FINRA found that while employed with Spencer Edwards, Inc., Richard Seefried failed to adequately investigate representations made by the issuer of […]

Paul Blum, a former registered representative with RBC Capital Markets, LLC (RBC Capital), submitted a Letter of Acceptance, Waiver and Consent in which he was barred by the Financial Industry Regulatory Authority (FINRA) for failing to appear for on-the-record testimony which was requested amid an investigation into customer complaints and arbitration claims alleging unsuitable recommendations […]

Adam Fritzsche, a stockbroker formerly registered with LPL Financial Corporation (LPL Financial), submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was suspended for one year for allegedly making unsuitable recommendations of a speculative, illiquid investment to three elderly retirees. According to FINRA, Adam Stuart […]