Uncovering Broker Misconduct: Angelo Talebi’s Massive Trail of Investor Complaints Investors seeking financial guidance place immense trust in brokers, expecting them to act in their best interests. However, when brokers breach this trust through misconduct, the consequences can be devastating. Here we explore the concerning case of Angelo Talebi (CRD# 2243829), a former broker with …
Penalty for Trading Stocks Without Authorization
Trading stocks without authorization is a violation of multiple Financial Industry Regulatory Authority (FINRA) rules. If your financial advisor or broker trades your stocks without your authorization, they can face various penalties from FINRA. In addition, you can file a claim to recover damages for the money you lost. At Meyer Wilson, we have a …
Matthew Wilkes in Investment Disputes Over Premium Financing for Insurance Policies
Matthew Wilkes Hit with Customer Complaints over Premium-Financed Life Insurance Policies According to FINRA’s publicly available records, Matthew Wilkes, a stockbroker formerly associated with Raymond James Financial Services Inc., stands accused of making unsuitable recommendations regarding premium-financed life insurance policies, failing to disclose material risks, and recommending an unsuitable change in insurance providers. Consequently, two …
Stockbroker Kyle Benjamin Baker Barred Over Refusal to Cooperate With FINRA
Kyle Benjamin Baker: Barred Stockbroker from First Trust Portfolios LP Fails to Cooperate with FINRA Investigation Kyle Benjamin Baker, a former stockbroker associated with First Trust Portfolios LP in Wheaton, Illinois, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm due to his failure to cooperate in a FINRA investigation. …
Louisiana Ponzi Scheme Lawyer
When entrusting your life savings to a financial advisor, you anticipate receiving reliable financial guidance. Unfortunately, certain advisors abuse this trust, resorting to deceitful practices like Ponzi schemes. If you have noticed unexplained losses in your portfolio, seek assistance from a Ponzi scheme lawyer serving Louisiana to protect your rights. Drawing from more than 25 …
Arizona Ponzi Scheme Lawyer
When you entrust your life savings to a financial advisor, you expect them to provide good financial guidance. Unfortunately, some advisors betray this trust by participating in Ponzi schemes or different forms of investment fraud. If you believe you were deceived, a Ponzi scheme lawyer serving Arizona will fight to recover your losses. Bringing over …
Darren McGovern Resigns Following Client Impersonation Allegations | What To Do Next
Disturbing Impersonation Claims Raise Ethical Concerns for Former Financial Advisor The financial industry prides itself on building trust and transparency with clients, but a recent incident involving a former advisor at a prominent firm has cast a dark shadow over these core principles. Darren McGovern, who previously worked as a broker at Ameriprise, has voluntarily …
RegBI: What Regulation Best Interest Means for Investors | Meyer Wilson Investment Attorneys
Reg BI Duty of Care: SEC Staff Bulletin Emphasizes Broad Obligations The U.S. Securities and Exchange Commission (SEC) recently published a staff bulletin on the duty of care for broker-dealers and investment advisers under Regulation Best Interest (Reg BI) and the investment adviser fiduciary standard. This bulletin, the third in a series, reflects the SEC …
How to Prepare for a FINRA Arbitration
After losing money due to investment fraud or another violation by the financial firm handling your money, you will likely need to pursue compensation through FINRA arbitration. There are many steps you and your lawyer can take to prepare before arbitration begins, including filing a claim, selecting arbitrators, attending a prehearing conference, exchanging discovery, and …
What Is the Statement of Claim for FINRA Arbitration?
When pursuing Financial Industry Regulatory Authority (FINRA) arbitration to resolve a dispute with your financial advisor or brokerage firm, you will submit a Statement of Claim. The State of Claim is the initial document you will submit to FINRA when pursuing a claim through arbitration that states all the important details of your case. At …
What Constitutes Excessive Trading?
Excessive trading is any trading with an investor’s money that exceeds the investment objectives and risk tolerance of the investor. Many brokers earn a commission on every trade they make. This can tempt brokers into making trades with the money they handle that exceed the needs of their clients simply to rack up as many …
What Is Reverse Churning?
When you pay an investment firm or financial advisor a flat fee to manage your money, and they do little or nothing with your account, this may be characterized as reverse churning. With reverse churning, you are essentially paying your financial advisor a fee and getting very little services in return. If your brokerage firm …