Churning & Unsuitable Trading Results in FINRA Suspension of Donald Bartelt

Churning & Unsuitable Trading Results in FINRA Suspension of Donald Bartelt

Donald Andrew Bartelt, Cave Creek, Arizona, was suspended by FINRA from November 21, 2016 thru February 20, 2017 for unsuitable trading in customer accounts.  Bartelt was found to be trading for his own benefit, completing excessive and inconsistent trading activity, churning, and disregarding client investment objectives.  See Page...

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$6.2 Million Fine for Supervisory Failures Related to Variable Annuity L-Shares

$6.2 Million Fine for Supervisory Failures Related to Variable Annuity L-Shares

Eight Firms are fined a total of $6.2 by Financial Industry Regulatory Authority (FINRA) for failuring to supervise sales of variable...

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PIABA Publishes Video to Educate Investors of the Prevalence of Investment Abuse

PIABA Publishes Video to Educate Investors of the Prevalence of Investment Abuse

WATCH THE VIDEO

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Lawrence Michael LaBine Sanctioned by FINRA

In April 2016, Lawrence Michael LaBine, of Fountain Hills, Arizona, consented to FINRA’s sanctions and was barred from associating with FINRA members in any capacity.  According to the FINRA disciplinary action, “Without admitting or denying the allegations, LaBine consented to the sanction and to the entry of findings that he made fraudulent misrepresentations and omissions of material facts to customers in connection with the sale of senior debentures (Series D)…”  LaBine was also found to have, “Made unsuitable sales of non-traded real estate investment trust (REIT’s) and other alternative investments, including Series D and his entity’s securities to customers who were elderly and/or inexperienced investors. Read the entire Disciplinary Action (see page 24). Read the entire Order Accepting Offer of...

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Oppenheimer & Co. Sanctioned $2.9 Million by FINRA

Oppenheimer & Co. Sanctioned $2.9 Million by FINRA

FINRA fined Oppenheimer & Co, Inc. $2.25 million and was ordered to pay more than $716,000 in restitution to customers for selling non-traditional ETF’s to customers without reasonable supervision and for recommending non-traditional ETF’s that were not suitable.  Read the entire FINRA News Release...

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Enormous Alleged Lawson Financial Bond Sale Fraud

Enormous Alleged Lawson Financial Bond Sale Fraud

A complaint was filed by FINRA against Lawson Financial Corporation, a Phoenix-based firm, and CEO, Robert Lawson for securities fraud in the sale of millions of dollars of municipal revenue bonds.  If you purchased any bonds from Lawson Financial Corporation, Inc., call us today at 480.832.1922.  Read the full article...

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