unauthorized trading

BROKER REPORT: Anthony Manougian

July 25, 2016 | Malecki Law Team

The investment and securities fraud attorneys at Malecki Law are interested in hearing from investors who have complaints regarding Oppenheimer & Co. financial advisor Anthony Manougian. According to his BrokerCheck report maintained by the Financial Industry Regulatory Authority (“FINRA”), Mr. Manougian left Morgan Stanley Smith Barney “after allegations.”

In 2012, Mr. Manougian was recently the subject of an employment separation after allegations, per FINRA records. BrokerCheck indicates that there were “concerns regarding FA’s conduct and status as beneficiary in connection with a client estate.”

Mr. Manougian has also reportedly been the subject of two customer disputes, which were denied, per the Broker Comment on Mr. Manougian’s BrokerCheck.

BROKER REPORT: Financial Advisor Barry D. Abrams

July 22, 2016 | Malecki Law Team

The securities fraud attorneys at Malecki Law are interested in hearing from investors who have complaints against stockbroker Barry D. Abrams. Mr. Abrams is currently employed and registered with Ameriprise Financial Services, Inc., and works at the broker-dealer’s Marlton, New Jersey office, according to his publicly available BrokerCheck records maintained by the Financial Industry Regulatory Authority (FINRA).

Per his BrokerCheck report, Mr. Abrams was previously employed and registered by Securities Service Network, Inc. from 2001 to 2013 and was discharged from that firm for “exercise[ing] discretion in a client account without written authorization from the client and without firm approval.” Prior to his employment and dismissal from Securities Service Network, Inc., Mr. Abrams was employed and registered with Morgan Stanley from 1995 to 2001, according to BrokerCheck records.

In 2015, Mr. Abrams was fined and suspended from association with any FINRA member broker-dealer for 15 business days by FINRA, after submitting a Letter of Acceptance, Waiver and Consent No. 2013039371801 (AWC). According to the AWC, Mr. Abrams violated NASD Conduct Rule 2510(b) (Discretionary Accounts) and FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) by placing discretionary transactions in a customer’s account without first obtaining prior written authorization from the customer and acceptance by the firm for such discretionary trading.

BROKER REPORT: Oppenheimer & Co.’s Joseph Iovino

July 19, 2016 | Malecki Law Team

The investment fraud attorneys at Malecki Law are interested in hearing from investors who have complaints regarding Oppenheimer & Co. broker Joseph Iovino. According to his BrokerCheck report maintained by the Financial Industry Regulatory Authority (“FINRA”), Mr. Iovino has been the subject of seven reportable disclosure events, including customer complaints.

Per FINRA records, Mr. Iovino has been involved in two regulatory events, four customer complaints and an employment separation after allegations.

According to his BrokerCheck, in 1992, Mr. Iovino was terminated by Prudential Securities for violating firm policy.

BROKER REPORT: Joseph Amalfitano of Raymond James

July 15, 2016 | Malecki Law Team

The investment fraud attorneys at Malecki Law are interested in hearing from investors who have complaints regarding Raymond James Financial Services broker Joseph Amalfitano of Malvern, PA. According to his BrokerCheck report maintained by the Financial Industry Regulatory Authority (“FINRA”), Mr. Amalfitano moved to Raymond James after stints at Citigroup and Merrill Lynch.

Mr. Amalfitano was recently the subject of two customer complaints since 2008, per FINRA records.

According to his BrokerCheck, in 2012, Mr. Amalfitano was alleged to have “maintained an unsuitable concentration of Bank of America stock” in customers’ accounts. Overconcentration can be dangerous since it has the potential to create higher risk and volatility of an account when compared to a more balanced, diversified portfolio. FINRA records indicate this case was settled.

BROKER REPORT: Financial Advisor Geri Delfino

July 12, 2016 | Malecki Law Team

The securities fraud attorneys at Malecki Law are interested in hearing from investors who have complaints against stockbroker Geri Delfino. Ms. Delfino had been employed and registered with Ameriprise Financial Services, Inc., a broker-dealer, from October 2009 to November 2015, according to her publicly available BrokerCheck, as maintained by the Financial Industry Regulatory Authority.

Per her BrokerCheck report, Ms. Delfino was previously employed by Ameriprise Advisor Services, Inc. from 2006 to 2009, Advest, Inc. from 2000 to 2006, and A.G. Edwards & Sons, Inc. from 1991 to 2000.

Ms. Delfino was fined and suspended for 20 days from association with any FINRA member broker-dealer by FINRA according to a Letter of Acceptance, Waiver and Consent No. 2015047790401 (AWC). According to the AWC, Ms. Delfino violated NASD Conduct Rule 2510(b) (Discretionary Accounts) and FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade) for:

Morgan Stanley Broker Armando Fernandez Suspended by FINRA

June 28, 2016 | Malecki Law Team

Morgan Stanley broker Armando Fernandez has been suspended by the Financial Industry Regulatory Authority (FINRA) for 20 business days, according to publicly available FINRA records. Per a Letter of Acceptance, Waiver and Consent filed with FINRA, Mr. Fernandez was accused of exercising discretion in a customer account without prior written acceptance of the account as discretionary from his member firm. FINRA records indicate that Mr. Fernandez was also fined $7,500.

Generally, brokers are prohibited from placing trades in a customer account without speaking to the customer first, unless an account is a discretionary account. When discretion is given by the customer to the broker, it is typically documented in a signed agreement. When there is not such a signed agreement, and a broker executes transactions on a discretionary basis anyway, violations of FINRA Rules likely have taken place.

Customers who have been the victim of brokers improperly exercising discretion in their accounts (or violating other FINRA Rules) may be entitled to recover their losses in an action against the firm and/or broker responsible.

BROKER REPORT: John Keyser of Dawson James Customer Complaints

January 20, 2016 | Malecki Law Team

The securities and investment fraud attorneys at Malecki Law are interested in hearing from investors who have complaints against Florida stockbroker John T. Keyser. Mr. Keyser is reportedly registered with Dawson James Securities, Inc. in Boca Raton, Florida. Industry records indicate that Mr. Keyser has also recently been registered with Viewtrade Financial and SAL Financial Services.

According to BrokerCheck, as maintained by the Financial Industry Regulatory Authority (“FINRA”), Mr. Keyser has been the subject of three customer complaints and a suspension of his license.

In 1998, Mr. Keyser reportedly had his FINRA (then NASD) license to sell securities suspended for failing to pay an arbitration award against him.

BROKER REPORT: Scott Teich of Raymond James in Florida

January 15, 2016 | Malecki Law Team

The securities and investment fraud attorneys are interested in hearing from investors with complaints involving Scott Teich of Raymond James. Per his BrokerCheck Report, maintained by the Financial Industry Regulatory Authority (“FINRA”), Mr. Teich is a registered stock broker with Raymond James, based out of Florida.

Mr. Teich’s BrokerCheck Report indicates that he has been the subject of at least six customer complaints. He has also reportedly been the subject of an “employment separation after allegations.”

In addition to Raymond James, Mr. Teich has also been registered with Gruntal & Co., First Colonial Securities, Paragon Capital Corp (which FINRA reports was “expelled” from FINRA in 2004).

BROKER REPORT: Jeffrey G. Lyon, formerly of Joseph Gunnar & Co.

October 2, 2015 | Malecki Law Team

The securities fraud attorneys are interested in hearing from investors with complaints involving Jeffrey G. Lyon. Per his BrokerCheck Report, maintained by the Financial Industry Regulatory Authority (“FINRA”), Mr. Lyon is no longer a registered stock broker. Per BrokerCheck, Mr. Lyon was last licensed to sell investments through FINRA in 2013 when he was registered with Joseph Gunnar & Co LLC.

Mr. Lyon’s BrokerCheck Report also indicates that he has been the subject of at least two customer complaints in his final three years in the brokerage industry. Per FINRA, the complaints against Mr. Lyon have alleged unsuitable investment recommendations and unauthorized trading.

In addition to Joseph Gunnar & Co., Mr. Lyon has also reportedly been registered with Charles Vista LLC and John Thomas Financial. Both of these firms were expelled by FINRA in 2014 and 2013, respectively, per FINRA records.

BROKER REPORT: Ameriprise’s Thomas E. Stratton-Crooke of Ohio Suspended By FINRA

September 25, 2015 | Malecki Law Team

The investment fraud attorneys at Malecki Law are interested in hearing from investors who have complaints financial advisor Thomas E. Stratton-Crooke of Ameriprise Financial Services, Inc., based out of Beachwood, OH.

Records from the Financial Industry Regulatory Authority (“FINRA”) indicate that Mr. Stratton-Crooke has been suspended by FINRA for 10 business days and fined $10,000 for improperly executing discretionary transactions in customer accounts without prior written authorization from the customer or authorization from his firm.

According to his BrokerCheck Report, Mr. Stratton-Crooke was discharged by Merrill Lynch in 2014, after 25 years with the firm, for what is believed to be the same misconduct that led to his suspension by FINRA.