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Unauthorized Trading

Michael P. Spolar, Ex-Broker, Has Ten Customer Complaints and Was Recently Denied Ohio License

Adam J. Marquardt May 17, 2018

On March 29, 2018, the State of Ohio Division of Securities denied an application for a securities license to former LPL Financial LLC and International Assets Advisory LLC broker, Michael P. Spolar. The decision comes in the wake of ten customer claims accusing Spolar of misconduct, two broker-dealers discharging him, and a securities regulator suspending

Rocco Roveccio Investors May Have Options to Recover Their Losses

Adam J. Marquardt April 30, 2018

On April 11, 2018, the Securities and Exchange Commission (SEC) announced in a press release that Rocco Reveccio was one of three former Alexandre Capital brokers charged with defrauding their customers. The others are William C. Gennity and Laurence M. Torres. The SEC filed a complaint against Reveccio and Gennity in the U.S. District Court

William Brunner, former Broker, Barred by FINRA for Alleged Failure to Cooperate with Investigation into His Possible Unauthorized and Excessive Trades

Adam J. Marquardt April 9, 2018

On April 6, 2018, FINRA announced it barred securities broker William Brunner from associating with firms registered with FINRA. FINRA (Financial Industry Regulatory Authority, Inc.) registers and regulates securities brokers and brokerage firms. FINRA announced Brunner’s bar in a Letter of Acceptance, Waiver and Consent (AWC). The AWC stated FINRA barred Brunner for declining to

Michael Giokas, former Fortune Financial Services, Inc. Stockbroker, Barred for Failure to Cooperate with Investigation into Fraud Charges

Adam J. Marquardt March 27, 2018

Update: Michael Giokas pleads guilty to wire fraud. On March 23, 2018, FINRA announced it barred securities broker Michael Giokas from associating with firms registered with FINRA. FINRA (Financial Industry Regulatory Authority, Inc.) registers and regulates securities brokers and brokerage firms. In a Letter of Acceptance, Waiver and Consent (AWC), FINRA stated it barred Michael

Sanders Spangler, former LPL Financial LLC Stockbroker, Barred from Securities Industry for Failing to Cooperate with FINRA’s Investigation into Alleged Unauthorized Trading

Adam J. Marquardt March 26, 2018

According to public records, FINRA barred former broker Sanders Spangler from the securities industry on March 26, 2018. FINRA (Financial Industry Regulatory Authority, Inc.) registers and regulates securities brokers and brokerage firms. In a Letter of Acceptance, Waiver and Consent (AWC), FINRA stated it barred Sanders Spangler because he declined to give sworn testimony regarding

Former Merrill Lynch Broker, Christopher Hibbard, Fired and Supsended After Investor Accused Him of Theft

Adam J. Marquardt March 22, 2018

On February 7, 2018, FINRA suspended Christopher Lee Hibbard due his alleged failure to cooperate with FINRA’s investigation into accusations he stole from an investor client. FINRA (Financial Industry Regulatory Authority, Inc.) registers and regulates security brokers and brokerage firms. Merrill Lynch had previously reported to FINRA on January 8, 2018 that it fired Hibbard

Michael Androulakis, Stockbroker at Alexander Capital, Suspended for Alleged Unsuitable Leveraged ETF Recommendations to Seniors

Adam J. Marquardt March 21, 2018

According to public records, on March 20, 2018, FINRA suspended stockbroker Michael Scott Androulakis from associating with any FINRA member firms for three months. FINRA (Financial Industry Regulatory Authority, Inc.) registers and regulates stockbrokers and brokerage firms. FINRA announced the sanction in its Letter of Acceptance, Waiver and Consent (AWC). The AWC alleges Michael Androulakis

Martin Earl Brooks Suspended for Alleged Unauthorized Purchases of Real Estate Investments in Customers’ Accounts

Adam J. Marquardt March 16, 2018

On March 16, 2018, FINRA fined Martin Earl Brooks $5,000 and suspended him from associating with firms registered with FINRA for fifteen days. FINRA (Financial Industry Regulatory Authority, Inc.) registers and regulates stock brokers and brokerage firms. FINRA announced the sanctions in its Letter of Acceptance, Waiver and Consent (AWC). The AWC states Brooks allegedly

David L. Barber, Expelled Madison Avenue Securities LLC Broker, Accused of Unauthorized Trades

Adam J. Marquardt March 12, 2018

On March 5, 2018, the Financial Industry Regulatory Authority Inc. (FINRA) barred David Lloyd Barber, a former Madison Avenue Securities LLC stock broker, from associating with firms registered with FINRA. FINRA is the self-regulator of stock brokers and brokerage firms. FINRA reported David Barber’s bar in its Letter of Acceptance, Waiver and Consent (“AWC”) that

Mark Kaplan, Ex-Vanderbilt Securities LLC Broker with Seven Customer Complaints, Barred by FINRA for Alleged Excessive Trading

Adam J. Marquardt March 12, 2018

On March 7, 2018, the Financial Industry Regulatory Authority Inc. (FINRA) barred Mark Kaplan, former Vanderbilt Securities LLC stock broker, from associating with firms registered with FINRA. FINRA registers and regulates stock brokers and brokerage firms. FINRA reported Mark Kaplan’s bar a Letter of Acceptance, Waiver and Consent (“AWC”). The AWC states Kaplan was barred

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