LPL Financial Sanctioned by Regulators in Connection with Its Sales of Variable Annuities

Cleveland stockbroker fraud attorney

LPL Financial, an investment firm, was charged with failing to retain appropriate books and records which documented variable annuity exchanges, or 1035 exchanges, as per the firm’s BrokerCheck profile. They were ordered to pay a $2 million fine as well as $820,000 in restitution. The Peiffer Rosca law firm’s securities practice attorneys Alan Rosca and… Read more »

Investors Encouraged to Be Vigilant When Exchanging Annuities

Broker-dealers are selling a bigger share of indexed annuities, and investors should be mindful of all the fees associated when moving to an indexed annuity from a variable annuity. When an annuity exchange occurs, investors should investigate whether or not they will incur any increased costs. Investors should also determine if there are any surrender… Read more »

Michael Martin Sanctioned by Arkansas Securities Regulators after Allegedly Targeting Senior Citizens to Invest in Equity-Indexed Annuities

Michael Hazen Martin was fined and suspended by the Arkansas Securities Department in connection with claims that Martin conducted fraudulent and deceptive business practices. The Peiffer Rosca securities practice attorneys Alan Rosca and Joe Peiffer are investigating the matter Martin conducted free lunch and dinner seminars around Arkansas which targeted seniors and retirees, according to… Read more »

David Bridges and SD Capital LLC Accused of Defrauding Investors

David Bridges defrauded investors of more than $650,000, according to an announcement made by United States Attorney Joseph Hogsett. Bridges waived indictment and indicated his desire to enter a guilty plea in connection with his fraudulent activities. Bridges convinced investors to invest in his bogus company, SD Capital LLC, and promised them that the funds… Read more »