$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...
Read MorePIABA Publishes Video to Educate Investors of the Prevalence of Investment Abuse
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Read MoreLawrence 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...
Read MoreOppenheimer & 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...
Read MoreEnormous 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...
Read MoreDavid Joseph Escarcega of Phoenix, AZ Fined for Misrepresentations
David Joseph Escarcega of Phoenix, AZ was sanctioned by FINRA for intentionally making false misrepresentations or omissions to customers. Read the FINRA Disciplinary Action Here on page...
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