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Investor Alert By Mika Meyers, PLC: FINRA Files Complaint Against Kelly Clayton Althar, Former Securities Agent of Financial West Group

Investor Alert By Mika Meyers, PLC: FINRA Files Complaint Against Kelly Clayton Althar, Former Securities Agent of Financial West Group

On January 6, 2017, the Financial Industry Regulatory Authority filed a Complaint against broker Kelly Clayton Althar, a former registered representative of Financial West Group (“FWG”). The Complaint alleges that between April 2011 and March 2014, Althar made unsuitable investment recommendations and engaged in excessive trading (often referred to as…

Claims Against John William Hoekman and Wells Fargo Advisors? Call Investor Claims Attorney Daniel J. Broxup of Mika Meyers, PLC for a Free, No-Obligation Consultation

Claims Against John William Hoekman and Wells Fargo Advisors? Call Investor Claims Attorney Daniel J. Broxup of Mika Meyers, PLC for a Free, No-Obligation Consultation

On July 3, 2016, John William Hoekman, a former senior vice president of investments for Wells Fargo Advisors in the Greater New York area, was permanently barred from the securities brokerage industry following allegations that he participated in undisclosed and unauthorized outside business activities and private securities transactions.  According to statements published by…

FINRA Fines and Censures First Financial Equity Corp. for Failure to Adequately Supervise Sales of Nontraditional ETFs and Multi-Class Variable Annuities

FINRA Fines and Censures First Financial Equity Corp. for Failure to Adequately Supervise Sales of Nontraditional ETFs and Multi-Class Variable Annuities

Brokerage firm First Financial Equity Corp. (“FFEC”) has been fined and censured by FINRA for wide-ranging supervisory and compliance failures, including inadequate supervision of sales of non-traditional ETFs and multi-class variable annuities. According to FINRA’s published findings, during the period of June 24, 2013 through April 7, 2015, FFEC failed…

Federal Appeals Court Rules that SEC’s “In-House” Court System is Unconstitutional

Federal Appeals Court Rules that SEC’s “In-House” Court System is Unconstitutional

The U.S. Court of Appeals for the Tenth Circuit ended 2016 with a bang last week when it ruled that the SEC’s long-standing practice of using “non-appointed” Administrative Law Judges (“ALJs”) to preside over agency enforcement hearings violates the Appointment Clause of the U.S. Constitution. The decision in Bandimere v SEC was accompanied by a…