Timothy W. Stephens Barred for Sales of Equity Indexed Annuities

Timothy W. Stephens, an investment professional in Spring Green, Wisconsin has been barred from associating with any FINRA member as a result of his equity indexed annuity (“EIA”) sales. Stephens consented to the described sanctions and to the entry of findings that he facilitated the EIA sales away from his member firm, without admitting or denying the findings. Tim Stephens was… Read more »

Frank M. Meo Sanctioned and Suspended

Frank M. Meo Jr., a Registered Representative in Lyndhurst, New Jersey has been sanctioned and fined by the securities regulators as a result of alleged sales to his customers of an unapproved investment. Meo was also suspended from association with any FINRA member in any capacity. The suspension will last for three months. Without admitting or denying… Read more »

The Wolf of Wall Street’s Legacy Lives on

Jordan Belfort, portrayed in the recent motion picture The Wolf of Wall Street, seems to have had a lasting influence on some of his former colleagues.  On Wednesday, January 15, 2014, the Massachusetts Secretary of the Commonwealth charged Christopher Veale – a former colleague of Mr. Belfort’s – with engaging in abusive sales practices, churning a client’s account… Read more »

Investors Cautioned to Be Careful Before Rolling Money Out of Employer’s Pension Plan

Investors urged by their financial advisors to move their savings out of the company’s pension plan and into a brokerage account should carefully examine all implications of such move before proceeding, cautions Joe Peiffer, a securities attorney with the Peiffer Rosca law firm. Attorneys Joe Peiffer and Jason Kane of Peiffer Rosca have represented hundreds… Read more »

Securities Attorneys Investigating Leveraged and Inverse ETF Sales by Stifel Nicolaus and Century

The Peiffer Rosca securities attorneys are investigating the leveraged and inverse ETF sales by securities broker-dealer firms Stifel Nicolaus & Co. and Century Securities, Inc.  Stifel Nicolaus and Century have been recently fined and sanctioned by the securities regulators in connection with their ETF sales to investors. In a disciplinary action against the two brokerage firms, the financial industry regulatory authority (“FINRA”) alleged that, between… Read more »

Investment Professional Thomas Mikolasko Sanctioned and Suspended

Thomas Mikolasko, a New York investment professional, submitted a Letter of Acceptance, Waiver and Consent (AWC) in which he was fined $75,000 and suspended from association with any FINRA member in any capacity for 18 months from October 7, 2013, through April 6, 2015. Mikolasko must pay the fine upon his reassociation with a FINRA member… Read more »

Jeffrey Austin Jarrett Sanctioned and Barred from the Securities Industry

Jeffrey Austin Jarrett, an Auburn, Indiana financial professional, has been permanently barred from working in the securities industry and ordered to pay $364,800 and interest as restitution to investors he was accused of cheating. The regulatory sanctions against Jarrett were the result of findings that he induced two customers to give him $375,000 as investment funds. Instead… Read more »

Maurice Joseph Chelliah Investigated by Securities Lawyers Following Disciplinary Action

Maurice Joseph Chelliah, a financial professional from Yorba Linda, California, is being investigated by the securities lawyers at the Peiffer Rosca law firm, in the wake of his permanent ban from the securities industry, as a result of allegations of converting customer funds. Chelliah was recently prohibited from associating with any securities broker-dealer firm in whatever… Read more »

Joseph Anthony Giordano Investigated by Securities Lawyers Following Regulatory Sanctions

Joseph Anthony Giordano, a licensed financial professional from Grasonville, Maryland, is being investigated by the securities lawyers at the Peiffer Rosca law firm, following regulatory sanctions against him. Joseph Giordano was recently barred from association with any securities broker-dealer firm member in any capacity, according to regulatory documents reviewed by securities attorneys Jason Kane and Joe… Read more »

Robert Kendrick Gray Fined, Suspended by Securities Regulators

Robert Kendrick Gray, a licensed financial professional in Santa Monica, California, was recently fined $15,000 by the securities industry regulators  and suspended from the securities industry for two months, regulatory documents reviewed by securities attorneys Jason Kane and Joe Peiffer indicate. Gray consented to the sanctions and did not deny the regulators’ findings, nor did he… Read more »