Articles Tagged with Associated Securities Corp

According to a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Leslie Koonce, a former broker with LPL Financial, violated securities laws. Allegedly, between January 2012 and March 2015, Koonce participated in several private securities transactions without providing prior written notice to his firm, LPL. He also completed firm compliance questionnaires in which he falsely denied participating in private securities transactions, and he later provided false responses to questions asked by FINRA. These are all against securities laws and internal firm rules. For this misconduct, he was permanently barred from the industry.

According to his FINRA BrokerCheck report online, Mr. Koonce was previously registered with Hornor, Townsend & Kent in Horsham, Pennsylvania from May 1984 until September 1998, Main Street Management Company in Boston, Massachusetts from December 1999 until May 2004, Associated Securities Corp in Menlo Park, California from May 2004 until September 2009, LPL in Menlo Park from September 2009 until December 2015, Cetera Advisor Networks in Menlo Park from December 2015 until December 2015 and EK Riley Investments in Menlo Park from December 2015 until November 2017. He is not currently registered as a broker within the industry.

Alfred Chan, a former NI Advisors broker in Oakland, California has been sanctioned by the Financial Industry Regulatory Authority (FINRA). In March 2016, he allegedly sold index annuities valued at approximately $2.5 million through an outside business activity. He was discharged from Signator Investors, another former firm, following allegations he failed to follow firm policy regarding unapproved advertising materials, unapproved seminar activity and the sale of unapproved indexed annuities. He was registered with WMA Securities, Metropolitan Life Insurance Company, MetLife Securities, Pension Planners Securities, Financial Network Investment Corp, Associated Securities Corp, LPL Financial Corp, Signator Investors, and NI Advisors in Oakland, California from December 2013 until January 2016. He is not currently registered with any member firm. He has two customer disputes against him, one of which is currently pending. Please call our law offices today if you would like to speak to an attorney about your options of suing Alfred Chan in the FINRA arbitration claims forum on a contingency fee basis. The call is free.

Stoltmann Law Offices is investigating Marsha Lou Samuels, a former broker with LPL Financial. According to her Financial Industry Regulatory Authority (FINRA) Letter of Acceptance, Waiver and Consent (AWC) Samuels was accused of alleged misconduct relating to borrowing money from clients and undisclosed outside business activity. Allegedly, from September 2008 until April 2009, Samuels accepted four personal loans totaling $121,000 from a firm customer. For this, she was suspended for four months and fined $5,000.

Samuels was registered with WMA Securities in Duluth, Georgia from July 1994 until June 1998, IFG Network Securities in Atlanta, Georgia from May 1998 until June 1999, Associated Securities Corp in Redwood City, Georgia from June 1999 until September 2009 and LPL in Redwood City from September 2009 until November 2013. She has one customer dispute against her.

Stoltmann Law Offices is investigating Stephen Joseph Kipp, a former advisor with NPB Financial Group. Kipp is accused of misrepresenting material facts related to an investment, breaching fiduciary duty and breaching contract. Kipp was registered with Bretcourt Securities Corporation from March 1984 until May 1984, Dean Witter Reynolds from July 1984 until September 1987, Bateman Eichler, Hill Richards, Inc. from September 1987 until March 1990, Associated Securities Corp in Boston, Massachusetts from March 1990 until February 2000, National Planning Corp in Ventura, California from January 2000 until August 2010, and NPB Financial Group in Ventura from August 2010 until July 2015. He is currently registered with NPB Financial in Ventura and has been since August 2015. If you would like to sue Stephen Joseph Kipp for investment losses, please call our securities law firm at 312-332-4200 to speak with an attorney.

According to a complaint filed by the Financial Industry Regulatory Authority (FINRA) against Lawrence LaBine, from April 2009 until August 2009, LaBine allegedly sold senior debentures issued by Domin-8. He allegedly made fraudulent misrepresentations and omissions of material fact to five customers in connection with the sale of the senior debentures. He failed to disclose to his customers that Domin-8 was financially poor and not sound, and agreed to receive personal compensation for not disclosing their true statistics. The complaint also alleges that LaBine made unsuitable recommendations of non-traded real estate investment trusts (REITs) and other alternative investments to elderly investors. Most of the investments were not suitable for the clients because of their age, investment objectives and investment sophistication.

Lawrence LaBine was registered with Southmark Financial Services from March 1985 until October 1985, Anchor National Financial Services from February 1986 until May 1992, SunAmerica Securities from May 1992 until April 1997, Linsco/Private Ledger Corp from April 1997 until July 2002, Associated Securities Corp from July 2002 until June 2007 and DeWaay Financial Network in Scottsdale, Arizona from June 2007 until October 2010. He is currently registered with Newbridge Securities Corporation in Scottsdale and has been since November 2010. He has 19 customer disputes against him, three of which are currently pending.

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