Established in 1832, Janney Montgomery Scott is a Philadelphia, Pennsylvania based FINRA broker-dealer. Janney Montgomery Scott has from time to time drawn the attention of securities regulators, including FINRA, as a result of its trading practices and supervisory systems. Market Timing Back in 2005, FINRA (then the NASD) announced that it had fined Janney Montgomery [...]
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm. The White Law Group has its offices in Chicago, Illinois and Boca Raton, Florida because of the obvious benefits of being located so close to the FINRA Dispute Resolutions offices in those cities (FINRA’s Southeast headquarters [...]
The White Law Group is investigating the variable annuity sales practices of former ING financial advisor Greg H. Miller on behalf of an investor who was inappropriately sold a large ING variable annuity policy by Mr. Miller. Based on our preliminary investigation, it appears that Mr. Miller conducted a revocable trust seminar and then, after [...]
FINRA recently announced that Cumberland Brokerage Corporation (a FINRA registered broker-dealer based in Philadelphia, Pennsylvania) has been fined $10,000 and ordered to pay restitution to customers. Without admitting or denying the findings, the firm consented to the entry of findings that, in pairs of transactions, it purchased municipal securities for its own account from customers [...]
FINRA recently announced that Fortune Financial Services, Inc. (a FINRA registered broker-dealer based in New Brighton, Pennsylvania ) and Brian Lee Daniels have been censured and fined $125,000 and $25,000 respectively. Additionally, Daniels has been suspended from association with any FINRA member in any principal capacity for nine months. Fortune Financial Services has also been [...]
FINRA recently announced that Philip Louis Crouse, Sr., formerly of Nationwide Securities, Inc. in Renfrew, Pennsylvania, has been barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Crouse consented to the findings that he caused the securities in a customer’s retirement accounts to be liquidated and transferred the [...]
On September 8, 2009, the Securities Exchange Commission (SEC) issued an Order Instituting Administrative Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Making Findings, and Imposing Remedial Sanctions (Order) against Jamie P. Lake (a financial advisor formerly registered with Questar Capital Corporation, among others). The Order finds that, from December 2006 [...]
Jamie Patrick Lake, formerly of Questar Capital Corporation in Scranton, Pennsylvania, barred from FINRA. Without admitting or denying the findings, Lake consented to the entry of findings that he solicited customers to invest a total of $729,500 in different investment schemes through his weekly radio talk-show and daily radio advertising spots. The findings further stated [...]
FINRA recently announced that Steve A. Brubaker, formerly of Woodbury Financial Services, Inc. in Elizabethtown, Pennsylvania, has been barred from association with any FINRA member firm in any capacity. Without admitting or denying, Brubaker consented to findings that he recommended that his customers invest in bearer bonds, falsely representing that the bond issuer was a [...]