Stephen S. Lard Accused of Recommending and Selling Unsuitable Investments in Private Placements

Stephen S. Lard recommended and sold unsuitable investments, according to a complaint filed by the Financial Industry Regulatory Authority’s (“FINRA”) Department of Enforcement. Lard recommended and sold various private-placement securities, all of which were speculative, high risk, and illiquid, according to the complaint. Lard’s actions resulted in a concentrated position for each investor of approximately… Read more »

Sandra Fexer Accused of Recommending Unsuitable Investments in Desert Capital REIT to Elderly Customers

Sandra Fexer, formerly of CM Securities, LLC, made multiple unsuitable recommendations to her customers for the purchase of a non-traded real estate investment trust (“REIT”), according to a complaint filed by the Financial Industry Regulatory Authority’s (“FINRA”) Department of Enforcement. Fexer made multiple unsuitable recommendations to three customers for the purchase of a non-traded REIT… Read more »

Gary J. Chackman Barred From Securities Industry Due to Alleged Unsuitable Recommendations and Document Forgery

Gary J. Chackman was barred from the securities industry by the Financial Industry Regulatory Authority (“FINRA”) in connection with claims that Chackman recommended unsuitable transactions and falsified documents. Chackman recommended and effected unsuitable transactions in the accounts of some of his LPL Financial, Inc. customers by over-concentrating his customers’ assets in real estate investment trusts… Read more »

Michael Chatwin Sanctioned by Securities Regulators for Allegedly Failing to Conduct Suitability Reviews

Michael Chatwin was suspended from the securities industry for three months and fined $5,000 by the Financial Industry Regulatory Authority (“FINRA”) in connection with claims that he failed to conduct suitability reviews for investors. Chatwin was SCIUS Securities LLC’s Compliance Officer and sole General Securities Principal from around May 2007 through April 2012. One of… Read more »