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The Financial Industry Regulatory Authority recently entered into a settlement with Corinthian Partners, LLC relating to claims that Corinthian failed to supervise sales of non-traditional exchange-traded products (“ETPs”) by its former registered representative Victoria Vandyke. Non-traditional ETPs include leveraged and inverse leveraged exchange-traded notes and exchange traded funds (“ETFs”). According…
FINRA’s Department of Enforcement recently filed a complaint against stock broker James Bradley Schwartz (“Schwartz”), of New York in which it alleges that Schwartz churned and excessively traded the accounts of customers while he was registered with the brokerage firm Aegis Capital Corp. According to the complaint, from August 2014 through…
Stock broker Gregory Tucker of Des Moines, Iowa is involved in a legal dispute with customers who allege that from 2009 to 2018, Tucker “failed to follow their risk-tolerance and growth investment objectives, recommended unsuitable and risky investments, failed to disclose and misrepresented material facts, and charged excessive mark-ups and…
The Financial Industry Regulatory Authority recently barred stock broker Douglas Leone of Melville, New York from the securities brokerage industry after Leone refused to cooperate with the self-regulator’s investigation into allegations that Leone made unsuitable investment recommendations to customers and churned customer accounts. One of the affected customers has initiated legal proceedings against…