The Financial Industry Regulatory Authority (FINRA) recently barred a former Hilliard Lyons broker, Henry Al Dean Watson. Watson allegedly made excessive trades and commissions, unauthorized trades and mismanaged portfolios. He also failed to appear for testimony before FINRA. Another customer complaint alleged that he purchased shares of a security without authorization. These are all against securities rules and regulations. Mr. Watson was registered with Painewebber Inc., Raymond James, Nationsbanc Securities, Nationssecurities, Banc of America Investment Services, Edgar M. Norris & Co. Inc., Scott & Stringfellow LLC, and J.J.B. Hilliard W.L. Lyons in Greenville, South Carolina from January 2012 until October 2016. He has three customer disputes against him and has been permanently barred from the industry, according to his online, FINRA BrokerCheck report. If you suffered losses with Henry Al Dean Watson, please call our securities law firm in Chicago to speak to one of our attorneys for free. There is no obligation. We may be able to help you bring a claim against Hilliard Lyons for not reasonably supervising Mr. Watson while he was registered with the firm. We take cases on a contingency fee basis, so we only make money if you recover yours. 312-332-4200.
According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Kevin Blaney was accused of making misrepresentations to customers in connection with the purchase, offer or sale of fixed income securities. Blaney was the Managing Director and salesman on Jeffries’ Mortgage-Backed Securities Desk from January 2009 until December 2011. Allegedly, in connection with six transactions, Blaney either made a false statement to a customer or failed to correct a statement made to a customer by another employee that Blaney knew was false. In five instances, Blaney misrepresented to Jeffries customers either the price at which the firm acquired, or was able to acquire, bonds that the customers were interested in purchasing, or that the firm was working with a seller of bonds when the firm already owned the bonds in inventory. This is against securities rules and regulations. For this, Blaney was fined $30,000 and suspended for three months.
According to his online FINRA BrokerCheck report, Blaney was registered with Citicorp Securities in New York, New York from December 1991 until September 1994, Banc of America Securities in New York from September 1994 until March 2001, JP Morgan Securities in New York from April 2001 until April 2003, RBS Greenwich Capital in Greenwich, Connecticut from April 2003 until April 2008 and Jeffries LLC in Stamford, Connecticut from May 2008 until September 2014. He is not currently registered with any member firm and is not licensed within the industry. Please call 312-332-4200 today to speak to an attorney about your options of suing Jeffries LLC for Blaney’s transgressions. The firm may be responsible for investment losses. The call is free with no obligation.
Stoltmann Law Offices is investigating Robert Edward Loftus, a former broker with Wells Fargo Advisors. According to a Financial Industry Regulatory Authority (FINRA) Disciplinary Proceeding, Loftus allegedly deposited checks that were drawn on his personal checking account into the brokerage account he held with his member firm employer, Wells Fargo. Loftus knew that he lacked sufficient funds to cover the checks at the time. He did so to benefit from the “float” on the checks. This is when an individual takes advantage of the time it takes to use non-existent funds in a bank account. It is against securities rules and regulations. Loftus did so to artificially inflate the balance in his Wells Fargo account and to prevent four checks he had written against it from bouncing. He was terminated from the firm on July 2nd, 2013.
Robert Edward Loftus was registered with E.F. Hutton & Company, Oppenheimer & Co., Morgan Stanley, Montgomery Securities, Banc of America, Citigroup and Wells Fargo in New York, New York from March 2009 until July 2013. He is currently registered with Arcadia Securities in New York and has been since July 2013. He has four judgments/liens against him. If you invested money with Loftus and would like to speak to an attorney about your options of recovering your financial losses, please call our securities law firm to speak to an attorney about your options. The call to us is free and there is no obligation.
According to a Financial Industry Regulatory Authority (FINRA) Letter of Acceptance, Waiver and Consent (AWC), Christopher Breland Kelly, a former registered representative with LPL Financial, was accused of borrowing $150,000 from husband and wife firm customers. Allegedly, on March 1, 2009, Kelly borrowed $150,000 from two customers, which is against securities rules and regulations. For this, he was suspended for four months and fined $10,000. He also allegedly participated in a private securities transaction when he sold a $150,000 investment in his investment advisory business. Breland was registered with Penn Capital Financial Services, Cohig & Associates, Gruntal & Co. Inc., Thos K. Wasserman & Assoc., Prudential Securities, Merrill Lynch, Banc of America and LPL Financial in Jupiter, Florida from December 2005 until April 2014. He has one customer dispute against him.
Stoltmann Law Offices is investigating John Joseph Arnold, a representative with Merrill Lynch. Arnold is accused of processing two wire requests for a client, falsely representing to his firm that he had verbally confirmed each of the wire transfers of hers. He then allegedly entered fictional information in Merrill Lynch’s books and records concerning the wire transfer request. He also allegedly did not obtain a Letter of Authorization from the customer for her transfer exceeding $50,000. He also allegedly disguised the true amount of the transfer. These are against securities rules and regulations.
John Joseph Arnold was registered with Montgomery Securities in San Francisco, California from May 1997 until October 1997, Banc of America in New York, New York from October 1997 until December 2001, Citigroup Global Markets in Irvine, California from December 2001 until July 2008 and Merrill Lynch in Newport Beach, California from June 2008 until September 2013. He is currently registered with Raymond James in Newport Beach and has been since November 2013.
If you or someone you know invested money with John Joseph Arnold, please call our securities law firm at 312-332-4200 to speak with an attorney. The call is free with no obligation. We takes cases on a contingency fee basis. His former firm, Merrill Lynch, may be liable for investment losses. We sue firms such as Merrill Lynch in the Financial Industry Regulatory Authority (FINRA) arbitration forum.