Recent Blog Posts
Gregory Tendrich, PA Investigating Deferred Compensation Claims of Former Morgan Stanley Brokers and Advisors
Recently, Morgan Stanley was sued by former brokers and advisors in both Federal Court and in FINRA arbitration who are seeking to recoup deferred compensation they were forced to give up when they transitioned to another firm. In short, in both the FINRA arbitration and the federal court case (which is seeking class action… Read More »
Edward Jones Aims to Hire 1,500 Brokers in 2022
Edward Jones has announced it has restarted its hiring efforts setting a target of hiring 1500 experienced brokers and trainees in 2022. For those experienced brokers, its always a good idea to consult with an experienced securities employment attorney prior to signing an offer letter or agreement. If you have an established book of… Read More »
LPL Financial Is In The Process Of Terminating A “Swath Of Brokers” In Connection With The Purported Improper Use Of DocuSign By The Brokers On Behalf Of Their Clients.
A published report indicates that LPL Financial is in the process of terminating a “swath of brokers” in connection with the purported improper use of DocuSign by the brokers on behalf of their clients. It appears some brokers were under the mistaken impression that they could electronically sign the documents for their clients. DocuSign… Read More »
SEC Obtains Emergency Asset in Freeze in Florida Ponzi Scheme Case
On August 13th, 2021, the Securities and Exchange Commission (SEC) announced Ponzi scheme charges against Florida resident Johanna M. Garcia and two companies that she owned and controlled (MJ Capital Funding LLC and MJ Taxes and More Inc.). In doing so, the federal agency obtained an emergency asset freeze. The SEC alleges that Ms…. Read More »
Pay Attention to your Brokerage Account Statements
FINRA has issued an informative and important alert regarding the importance of reviewing your monthly account statements upon receipt. Even though the financial markets were up in 2019, it is vital that you continue to review your account statements to confirm that the trading in your account is accurate and conforms with your investment… Read More »
SEC Halts Ponzi scheme Targeting Seniors and Small Business Owners
Washington D.C., Nov. 19, 2019 — The Securities and Exchange Commission today announced that it has filed an emergency action and obtained a temporary restraining order and asset freeze against two individuals and two companies they control in connection with an alleged $6 million Ponzi scheme that defrauded at least 55 investors, many of whom are… Read More »
Report: Troubled Private Placement GPB Capital Holdings Paid Steep Commissions to Brokers and Broker-Dealers
According to reporting from InvestmentNews, GPB Capital Holdings — the troubled alternative investment company that is currently the subject of Ponzi scheme accusations — paid large commissions to the securities representatives as a substantial inducement to sell the private placement to investors. Specifically, commissions were paid at a rate of 9.3 percent. In total,… Read More »
Wedbush Settles Failure to Supervise Charge
The Securities and Exchange Commission announced today that Wedbush Securities Inc. will pay a $250,000 penalty and has agreed to be censured to settle its failure to supervise charge in a pending administrative proceeding. According to the SEC’s March 2018 order instituting proceedings, Wedbush ignored numerous red flags indicating that one of its registered… Read More »
With Wild Swings, Stocks Have their Worst December Since the Great Depression
In a volatile market, is your portfolio too risky? As the bell rang to close the New York Stock Exchange (NYSE) on the afternoon of December 31st, a difficult month for stocks finally came to an end. As reported by The Street, this was the worst December for American stocks since 1931 — during… Read More »
Customers Sue LPL Financial Over Unsuitable ETFs And Mutual Funds
Jane Ruth Everingham (CRD: 1727956) is a former registered representative of LPL Financial LLC from Larkspur, California. According to Everingham’s FINRA BrokerCheck disclosures, she is currently, or has been previously, subject of eight customer-initiated, investment-related arbitrations containing allegations of her sales practice violations including unsuitability, excessive fees, and breach of fiduciary duty. The customers’… Read More »
