Boca Raton Stockbroker Misconduct Attorney - Law Offices of Robert Wayne Pearce

Dec 21, 2018

Former BAC Florida Stockbroker Supervisor Suspended for Misconduct

Jose Luis Leon, of Palmetto Bay, Florida, submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) for allegedly violating NASD Rule 3010 and FINRA Rule 2010. Leon was employed with BAC Florida Investments Corp. (BAC Florida) from December 1987 until his termination in February 2017. During the period between July 2013 and November 2014, Leon served as BACs Chief Compliance Officer. Leon was responsible for supervising and reviewing the trading activities of the firm’s former CEO and Head Trader. The findings stated that the Fixed Income Investigation staff of FINRA’s Department of Market Regulation reviewed certain fixed income securities transactions that BAC Florida made through its former CEO and Head Trader. FINRA investigated Leon’s supervision over the former CEO and Head Trader’s trading activities. According to FINRA, Leon failed to supervise and review the prohibited trading activities of both the CEO and Head trader, instead he allowed them to review their own activities.

May 8, 2018

Lincoln Financial Broker Permanently Barred by FINRA for Converting Elderly Client’s Funds

Jimmy Moscoso, a former registered representative with Lincoln Financial Advisors Corporation (Lincoln Financial) has been permanently barred by the Financial Industry Regulatory Authority (FINRA) based upon its findings that he converted funds of his elderly customer. According to FINRA, Jimmy Oswald Moscoso, of Boca Raton, Florida, converted approximately $20,000 from his elderly customer, allegedly using the money for his own personal use instead. FINRA found that an elderly customer agreed to invest $20,000 in a purported real estate investment by giving Mr. Moscoso a check for $20,000 made payable to a business owned by Mr. Moscoso. Mr. Moscoso then endorsed the check and deposited it into an account controlled by him and used the money for his personal use. Without admitting or denying FINRA’s findings, Mr. Moscoso was permanently barred from association with any FINRA member in any capacity.

Aug 16, 2016

FINRA Fines and Suspends Deutsche Bank Broker Gregory Barr for Discretionary Trade Violations

Gregory Barr., a Boca Raton, Florida based broker formerly employed with Deutsche Bank Securities, Inc. (Deutsche Bank) and Raymond James & Associates, Inc. (Raymond James), submitted a letter of Acceptance, Waiver, and Consent in which he consented to, but did not admit to or deny, the Financial Industry Regulatory Authority’s (FINRA) findings that he entered discretionary trades in the accounts of four customers without the necessary prior written customer authorization. FINRA found that while employed as a General Securities Representative with Deutsche Bank, Gregory Edward Barr exercised discretion in four of his customers’ accounts. He placed sell orders for the customers in the same stock. Although these customers had allegedly given Mr. Barr verbal authorization to sell their positions if the stock decreased in price, he allegedly failed to discuss the transactions with his customers on the day of the sell orders. FINRA further alleged Deutsche Bank had not approved the customers’ accounts for discretionary trading. Therefore, none of the accounts had been approved for the discretionary trades made by Mr. Barr.

Jan 13, 2016

Uhlmann Price Securities Representative Barred for Undisclosed Activities and Misrepresentations

Clifford Morgan of Chesterton, Indiana submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Department of Enforcement of the Financial Industry Regulatory Authority for allegedly participating in numerous unauthorized business activities. Mr. Morgan first became associated with FINRA in January 2004 as an Investment Company and Variable Contracts Products Representative, a State Securities Agent, and a General Securities Representative (GSR). From January 2007 through December 2014, Mr. Morgan was associated with FINRA member firm Uhlmann Price Securities (Uhlmann Price). FINRA found that between November 2011 and December 2014, while associated with Uhlmann Price, Mr. Morgan participated in private securities transactions without written approval from his member firm. Additionally FINRA alleged that Mr. Morgan made material misrepresentations to Uhlmannn Price customers and also failed to comply with FINRA’s requests for information regarding the allegations.

Sep 23, 2015

Huntington Investment Representative Barred for Misappropriating Client Funds

Bryan Carnahan of Gahanna, Ohio submitted a Letter of Acceptance, Waiver and Consent (AWC) to The Department of Enforcement of the Financial Industry Regulatory Authority (FINRA) for allegedly misappropriating and converting client funds for which he later used for his own personal use. Carnahan first became registered in the securities industry as an Investment Company Products/Variable Contracts Representative through a FINRA-registered firm in August 1998. In December 1998, Carnahan became registered though The Huntington Investment Company (Huntington) and remained there until his termination in March 2015.

Sep 21, 2015

B.B. Graham & Company General Sales Representative Barred by FINRA

Thomas Hogle of Houston, Texas submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Department of Enforcement of the Financial Industry Regulatory Authority (FINRA) for allegedly failing to provide documents and information requested by FINRA in connection to an investigation claiming unsuitable investment recommendations. Hogle entered the securities when he became associated with a FINRA member in 1988 as a General Sales Representative. In October 2011, Hogle joined B.B. Graham & Company, Inc. (B.B. Graham) and became registered as a General Sales Representative.

Sep 18, 2015

Former Edward Jones Representative Barred for Converting Client Funds

Adam Bollinger of Chandler, Arizona submitted a Letter of Acceptance, Waiver and Consent (AWC) to The Department of Enforcement of the Financial Industry Regulatory Authority for allegedly converting client funds for his own personal use. Bollinger became registered through a FINRA member firm in August 2012. From August 2012 through December 2014, Bollinger was registered with Edward D. Jones & Co., L.P. (Edward Jones) as a General Securities Representative. On December 23, 2014 his registration was terminated as a result of his alleged actions. FINRA found, between February and December 2014, Bollinger converted $17,525 from seven individuals, six of whom were Edward Jones clients. FINRA alleged that Bollinger, sometimes under the guise of soliciting charitable contributions, requested individuals make out checks payable to him. Instead of using charitable contributions to his claimed cause, Bollinger allegedly converted and used the monies for his own personal use.

Sep 14, 2015

Wells Fargo Representative Suspended for Unauthorized Trades

William Campbell of Florence, South Carolina submitted a Letter of Acceptance, Waiver and Consent (AWC) to The Department of Enforcement of the Financial Industry Regulatory Authority (FINRA) for allegedly making several trades for clients without written authorization. Campbell entered the securities industry in 2012 when he became associated with FINRA Member Frim Wells Fargo Advisors, LLC (Wells Fargo) and within a year became a General Securities Representative (GSR). On July 17, 2014 Wells Fargo filed a Uniform Termination Notice for Securities Industry Registration (Form U5) terminating Campbell’s registration.