Investment Products

Broker Barred and Firm Expelled for Sales Practice Violations Relating to PCG Private Placements

Broker Barred and Firm Expelled for Sales Practice Violations Relating to PCG Private Placements

Thomas Brenner, a former securities agent of First American Securities, has been permanently barred from the securities brokerage industry after he refused to cooperate with a FINRA investigation into his involvement in the sale of three different private placements. The investigation was initiated after FINRA received tips or complaints from…

FINRA Continues to Meet Out Punishment for Unsuitable Sales of GWG Secured Debentures

FINRA Continues to Meet Out Punishment for Unsuitable Sales of GWG Secured Debentures

On July 20, 2017, FINRA’s appeals body, the National Adjudicatory Council, upheld a hearing panel’s decision to bar David Escarcega from the securities brokerage industry. The hearing panel found that Escarcega, a former registered representative of Center Street Securities, Inc. (CRD#:26898), willfully made materially false and misleading statements in connection…

Investor Alert: Robert Estevez, Joseph Gunnar & Co., LLC, and Investors Capital Corp

Investor Alert: Robert Estevez, Joseph Gunnar & Co., LLC, and Investors Capital Corp

On October 17, 2016, securities broker Robert Estevez  was suspended by the Financial Industry Regulatory Authority (“FINRA”) for allegedly making unsuitable investment recommendations to his clients. Estevez has also been ordered to cease and desist securities activity in the States of New Hampshire. and Michigan. According to his online FINRA Brokercheck report, Estevez recommended unsuitable short-term…