The collapse of FTX, a leading cryptocurrency exchange, has reverberated throughout the investment community, leaving many investors facing substantial losses. Notably, the endorsements of high-profile figures like Tom Brady and Kevin O’Leary lent credibility and legitimacy to FTX, attracting a significant number of investors. Even though there are no known assertions that Tom Brady’s or Kevin O’Leary’s endorsements were somehow faulty, as an investment loss attorney, it is important to explore the legal complexities surrounding the responsibilities and potential liabilities of spokespeople in ..read more

LPL Financial, a prominent financial firm based in Fort Mill, South Carolina, recently faced regulatory scrutiny resulting in significant consequences. The Financial Industry Regulatory Authority (FINRA) issued an Acceptance, Waiver, and Consent (AWC) on December 27, 2023, shedding light on various lapses in the firm’s supervision and reporting processes. Here are the key findings of which investors should be aware: LPL Financial received a censure and a substantial $5.5 million fine. The post LPL Financial Faces Regulatory Sanctions: Understanding the Impact on Investors appeared first on S ..read more

If you or someone you know has an account with Jesus Rodriguez and may be affected by the alleged misappropriation, we urge you to take action. Contact Savage Villoch Law now by emailing or calling us at (813) 251-4890 for guidance and support.    Introduction: In a recent development, the Securities and Exchange Commission (SEC) has filed charges against Jesus Rodriguez, a former financial advisor, for perpetrating a massive fraud scheme. The SEC alleges that Rodriguez misappropriated over $3.475 million from the accounts of ten brokerage customers and advisory clients during the pe ..read more

By Alfred Villoch, III The issue of unpaid arbitration awards issued by FINRA against FINRA registered representatives is a growing concern in the financial industry, and it has garnered attention from organizations like PIABA (Public Investors Advocate Bar Association). Many investors who have been wronged by FINRA registered stockbrokers rely on FINRA arbitration to seek restitution, but the enforcement of these awards can be problematic, especially when FINRA representatives refuse to pay them. To address this issue, one proposed solution is to mandate that all FINRA-registered individuals ..read more

Prohibiting Time and Price Discretion – A Case Study of Dominic Joseph Carlo Introduction The Financial Industry Regulatory Authority (FINRA) is a self-regulatory organization that oversees the conduct of broker-dealers and their associated persons. One of the key principles that FINRA enforces is the prohibition of time and price discretion in customer accounts. In this article, we will delve into the specifics of this rule and its implications by using a real-life example involving Dominic Joseph Carlo, a financial professional based in North Bellmore, New York. The post Prohibiting Time and ..read more

Christopher F. Harrington Jr., a financial advisor based in New York, finds himself in the spotlight as the Financial Industry Regulatory Authority (FINRA) issues an Acceptance, Waiver, and Consent (AWC) order. The order comes after a series of troubling allegations involving Harrington’s financial advice and its impact on a vulnerable investor. The Allegations The heart of the matter revolves around allegations that Harrington recommended transactions within a customer’s account that not only served to inflate his own compensation but also inflicted undue financial burdens on the customer. Th ..read more

Trust and transparency are the cornerstones upon which clients rely in the financial services industry. Financial advisors are expected to adhere to these principles and maintain the highest ethical standards. However, in a recent matter involving Jermaine K. Benjamin, formerly registered with Raymond James Financial Services, questions about compliance have arisen. The Allegations Jermaine K. Benjamin has come under scrutiny due to allegations of unauthorized transactions and misappropriation/defalcation. These serious allegations were brought to light when the FINRA member firm filed an amen ..read more

In the world of finance and investments, trust is paramount. Investors rely on professionals to provide them with sound advice and recommendations to grow their wealth. Unfortunately, not all financial advisors uphold these standards of trust and transparency. One such case that recently came to light from the Financial Industry Regulatory Authority (FINRA) Disciplinary Actions report is that of Blake Adam Levy.  Mr. Levy consented to sanctions and findings for his role in recommending membership interests in two funds for a staggering $2,260,299 through private placement offerings. What ..read more

Whether you are in retirement or are planning for retirement, you may consider working with a Registered Investment Adviser (RIA) to manage your retirement assets. RIAs offer professional financial advice and are bound by the fiduciary duty to act in your best interest. However, there are potential issues you should be aware of as you consider working with an RIA. Here is a list of 10 potential problems with entrusting your retirement assets to an RIA. Misalignment of Interests: While RIAs are held to a fiduciary standard by the Investment Advisers Act of 1940, this does not entirely eliminat ..read more

El auge de las criptomonedas ha sido una de las noticias más importantes del mundo financiero en los últimos años. A medida que las criptomonedas como Bitcoin y Ethereum se han vuelto más populares, muchas personas se han preguntado si deberían invertir en ellas. En este blog, discutiremos los pros y los contras de las criptomonedas desde la perspectiva de un abogado especializado en reclamos de pérdidas de inversión. Pros de las criptomonedas  Potencial de ganancias significativas: Uno de los mayores atractivos de las criptomonedas es su potencial de ganancias significativas. Desde su c ..read more