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December 5, 2018
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Blog, Current Investigations, Securities Fraud
David Fagenson Accused by FINRA of Churning Client Accounts According to the Financial Industry Regulatory Authority (FINRA), the regulator has suspended former UBS broker, David Fagenson, for alleged excessive trading in elderly client accounts. According to a Letter of Acceptance, Waiver and Consent, from January
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November 30, 2018
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Blog
Churning Losses Recovery According to the Financial Industry Regulatory Authority Inc. (FINRA), FINRA Arbitrators awarded more than $1 million to a client who alleged account churning by his broker at Legend Securities Inc. The FINRA panel of three awarded Herbert Voss $700,000 in punitive damages in addition to
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April 26, 2018
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Blog, Securities Fraud
FINRA proposes new rule for Churning Fraud – Excessive trades The Financial Industry Regulatory Authority Inc. is proposing a new rule to catch more brokers who are churning customer accounts, according to an article in Investment News on Monday. FINRA and the Securities and Exchange Commission have been targeting
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May 23, 2017
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Securities Fraud
Former clients of LPL Financial are fighting the firm and their broker, Jason N. Anderson in Beaumont, Texas. Plaintiffs Elijah Denson and Olan Weeks of Beaumont, Texas, seek more than $1 million in damages on behalf of “hundreds” of current and former clients of Jason N. Anderson, at LPL Financial in a
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May 15, 2017
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Blog
Recognizing Excessive Trading or Churning in your Brokerage Account In January, the SEC’s Office of Investor Education and Advocacy (OIEA) and Broker-Dealer Task Force jointly issued an Investor Alert to help investors recognize excessive trading in their brokerage accounts. Excessive Trading or churning occurs
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April 25, 2017
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Blog
FINRA Tightens Sanctions on Churning In April 2017, the Financial Industry Regulatory Authority announced that it had revised its sanction guidelines for violations of its rules. The revisions include changes relating to rule violations that involve churning or unauthorized transactions. What is Churning? As we have
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April 17, 2017
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Current Investigations, Securities Fraud
Recovery of Investment losses from Churning Fraud Churning fraud is defined as an unethical practice employed by some financial advisors to increase their commissions by excessively trading in a client’s account. This practice violates various FINRA Rules and is often referred to as excessive trading. FINRA Rule
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April 6, 2017
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Current Investigations
Concerned about investment losses with your broker? If you suspect your account has been excessively traded, your broker may be churning your account. But how can you be certain? According to the SEC, churning occurs when a broker engages in excessive buying and selling of securities in a customer’s account
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March 29, 2017
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Blog, Securities Fraud
NY Brokers charged the same day in churning scheme The Securities and Exchange Commission issued an investor alert In January warning investors about excessive trading and churning in brokerage accounts the same day it charged two New York brokers with benefiting themselves in such a scheme. The SEC’s
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February 14, 2017
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Securities Fraud
Is your Financial Advisor Churning your Account? Have you suffered losses investing with your financial advisor? If so, The White Law Group may be able to help you by filing a FINRA arbitration claim against the brokerage firm that sold you the investments. Like any profession – there are good financial advisors and
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