Articles Posted in FINRA investigation

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Randy CarpenPublic records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on June 15, 2018 indicate that former Missouri-based Vestech Securities broker Randy Carpen, who has received resolved or pending customer disputes, was recently named in a FINRA investigation into alleged rule violations. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Carpen (CRD# 2469877).

Randy Carpen has spent 20 years in the securities industry and was most recently registered with Vestech Securities in St. Louis, Missouri (2017-2018). Previous registrations include IBN Securities in Liverpool, New York (2017); Freedom Investors Corporation in Brookfield, Wisconsin (2015-2017); Newbridge Securities Corporation in Boca Raton, Florida (2013-2014); Westpark Capital in Fort Lauderdale, Florida (2013); CBG Financial Group in Fort Lauderdale, Florida (2012-2013); EKN Financial Services in Fort Lauderdale, Florida (2010-2012); Jesup & Lamont Securities Corporation in Fort Lauderdale, Florida (2008-2010); Gunnallen Financial in Fort Lauderdale, Florida (2007-2008); Gunnallen Financial in Tampa, Florida (2002-2003; 2005-2006); First Montauk Securities in Red Bank, New Jersey (2001-2002); First Liberty Investment Group in Philadelphia, Pennsylvania (1998-2001); VTR Capital in New York, New York (1997-1998); Sovereign Equity Management Corporation in Deerfield Beach, Florida (1996-1997); Biltmore Securities in Fort Lauderdale, Florida (1996); GKN Securities Corporation in New York, New York (1995-1996); and First United Equities Corporation in New York, New York (1995). He has passed three securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on December 14, 1994; Series 7 (General Securities Representative Examination), which he obtained on November 19, 1994; and Series 24 (General Securities Principal Examination), which he obtained on April 17, 1997. He is currently not registered with any state or firm.

According to his BrokerCheck report, he has received one customer complaint and one pending customer complaint, and he was recently named in a FINRA investigation.

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Lloyd JohnstonPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on June 6, 2018 indicate that former Washington-based Capital Financial Services broker/adviser Lloyd Johnston, who has received a pending customer dispute, was recently discharged from his former employer in connection to alleged rule violations and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Johnston (CRD# 1626695).

Lloyd Johnston has spent 27 years in the securities industry and was most recently registered with Capital Financial Services in Spokane, Washington (2006-2018). Previous registrations include Legacy Financial Services in Clinton, Maryland (2004-2006); Investors Capital Corporation in Lynnfield, Massachusetts (1996-2004); Intersecurities in St. Petersburg, Florida (1992-1993); and Pruco Securities Corporation in Newark, New Jersey (1987-1992). He has passed five securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on May 29, 1998; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on July 19, 1996; Series 7 (General Securities Representative Examination), which he obtained on July 25, 1997; Series 6 (Investment Company Products/Variable Contracts Representative Examination), which he obtained on February 23, 1987; and Series 26 (Investment Company Products/Variable Contracts Principal Examination), which he obtained on April 30, 1996. He is currently not registered with any state or firm.

According to his BrokerCheck report, Lloyd Johnston has received one pending customer complaint and one regulatory sanction, has been named in a FINRA investigation and was recently discharged from his former employer in connection to alleged rule violations. He has also received 15 unsatisfied judgments or liens.

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James KujawskiPublic records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on June 5, 2018 indicate that former Maryland-based Ameriprise Financial Services broker/adviser James Kujawski, who has received resolved or pending customer disputes, was recently named in a FINRA investigation into alleged rule violations. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Kujawski (CRD# 2075543).

James Kujawski has spent 27 years in the securities industry and has been registered with Ameriprise Financial Services in Annapolis, Maryland since March 2018. Previous registrations include UBS Financial Services in Annapolis, Maryland (2009-2018); Morgan Stanley & Company in Annapolis, Maryland (2007-2009); Morgan Stanley & DW in Annapolis, Maryland (1999-2007); Prudential Securities in New York, New York (1997-1999); Smith Barney in New York, New York (1993-1997); and Lehman Brothers in New York, New York (1990-1993). He has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on May 7, 1992; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on September 21, 1990; Series 31 (Futures Managed Funds Examination), which he obtained on February 29, 2000; and Series 7 (General Securities Representative Examination), which he obtained on August 31, 1990. He is a registered broker and investment adviser in Maryland and the District of Columbia.

According to his BrokerCheck report, he has received four customer complaints and one pending customer complaint, and he was recently named in a FINRA investigation into alleged rule violations.

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Matthew Eckstein

Publicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on May 16, 2018 indicate that New York-based Sisk Investment Services broker Matthew Eckstein has been named respondent in a pending FINRA complaint. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Eckstein (CRD# 2997245).

Matthew Eckstein has spent 20 years in the securities industry and has been registered with Sisk Investment Services in Syosset, New York since 2015. He was previously registered with Gould Ambroson & Associates in Garden City, New York 91998-2015). He has passed three securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on April 4, 1998; Series 7 (General Securities Representative Examination), which he obtained on February 11, 1998; and Series 24 (General Securities Principal Examination), which he obtained on November 25, 1998. He is a registered broker with nine US states: Colorado, Connecticut, Florida, Minnesota, New Jersey, New York, North Carolina, Pennsylvania, and Virginia.

According to his BrokerCheck report, Matthew Eckstein has received one regulatory sanction and one pending regulatory complaint.

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Zachary BrodtPublicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on March 6, 2018 indicate that Arizona-based First Financial Equity Corporation broker/adviser Zachary Brodt has been named in a pending FINRA investigation. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Brodt (CRD# 5228473).

Zachary Brodt has spent eleven years in the securities industry and has been registered First Financial Equity Corporation in Scottsdale, Arizona since 2016. Previous registrations include Raymond James & Associates in Scottsdale, Arizona (2014-2016); Accelerated Capital Group in Scottsdale, Arizona (2012-2014); Meridian United Capital in Scottsdale, Arizona (2008-2012); and GF Investment Services in Scottsdale, Arizona (2007-2008). He has passed three securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on April 11, 2007; Series 65 (Uniform Investment Adviser Law Examination), which he obtained on August 25, 2006; and Series 7 (General Securities Representative Examination), which he obtained on January 26, 2007. He is a registered broker and investment adviser with six US states: Arizona, California, Georgia, Nevada, New York, and Texas.

According to his BrokerCheck report, Zachary Brodt has been named in a pending FINRA investigation.

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William WhitePublicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on February 5, 2018 indicate that former North Carolina-based InterCarolina Financial Services broker/adviser William White has been named in a pending FINRA investigation and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. White (CRD# 1049339).

William White has spent 14 years in the securities industry and was most recently registered with InterCarolina Financial Services in Greensboro, North Carolina (2003-2017). He has no previous registrations. He has passed two securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on September 5, 2003, and Series 7 (General Securities Representative Examination), which he obtained on September 3, 2003. He is currently not affiliated with any broker-dealer firm.

According to his BrokerCheck report, he has been named in a FINRA investigation and has received four unsatisfied tax liens.

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James ClayPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on January 8, 2018 indicate that former Tennessee-based Cuso Financial Services broker/adviser James Clay has been named in a FINRA complaint and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Clay (CRD# 5748560).

James Clay has spent 7 years in the securities industry and was most recently registered with Cuso Financial Services in Clarksville, Tennessee (2014-2017). Previous registrations include US Bancorp Investments in Clarksville, Tennessee (2012-2014) and Edward Jones in Clarksville, Tennessee (2010-2012). He has passed two securities industry examinations: Series 66 (Uniform Combined State Law Examination), which he obtained on March 5, 2010, and Series 7 (General Securities Representative Examination), which he obtained on February 18, 2010. He is currently not registered with any state or firm.

According to his BrokerCheck report, he has been named in a pending FINRA complaint and was discharged from a former employer in connection to alleged rule violations.

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Jodie LaMarrePublicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on January 8, 2018 indicate that former Florida-based Janney Montgomery Scott broker/adviser Jodie LaMarre has been named in a FINRA investigation into alleged rule violations and is currently not affiliated with any broker-dealer firm. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Ms. LaMarre (CRD# 2127928).

Jodie LaMarre has spent 25 years in the securities industry and was most recently registered with Janney Montgomery Scott in Sarasota, Florida (2015-2017). Previous registrations include Robert W. Baird & Company in Sarasota, Florida (2008-2015); Wachovia Securities in Sarasota, Florida (2003-2008); Prudential Securities in New York, New York (1997-2003); AG Edwards & Sons in St. Louis, Missouri (1992-1997); and Merrill Lynch in New York, New York (1991-1992). She has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which she obtained on August 19, 1997; Series 63 (Uniform Securities Agent State Law Examination), which she obtained on April 27, 1992; and Series 7 (General Securities Representative Examination), which she obtained on December 9, 1991. She is currently not registered with any state or firm.

According to her BrokerCheck report, she has received two customer complaints and was recently named in a FINRA investigation into alleged rule violations.

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InvestacorpPublic records published by the Financial Industry Regulatory Authority (FINRA) and accessed on December 15, 2017 indicate that Florida-based brokerage firm Investacorp, a subsidiary of Ladenburg Thalmann Financial Services, has been sanctioned by FINRA in connection to alleged rule violations. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Investacorp (CRD# 7684).

According to a report by Investment News, the firm was censured in connection to allegations it failed to have proper procedures in place to detect the sales of high priced mutual fund shares, by certain of its representatives, to customers who were eligible for certain discounts.

The relevant disclosure on Investacorp’s BrokerCheck report states additionally that FINRA alleged the firm “disadvantaged certain retirement plan and charitable organization customers” who could have purchased class A shares in certain funds without a front-end sales charge, but who instead were sold either Class A shares with such a charge, or Class B or C shares with back-end charges and increased fees and expenses. These sales allegedly disadvantaged the customers in question by causing them to pay more than they were in fact required, according to FINRA. FINRA’s findings also state that Investacorp failed in its duty to supervise the application of sales charge waivers for eligible sales of mutual funds. While the firm relied on its representatives to determine whether the sales charge waivers applied, it allegedly failed to put in place written policies or procedures that wold help these representatives make such determinations. For example, FINRA states, Investacorp “failed to establish and maintain written procedures to identify applicable sales charge waivers in fund prospectuses for eligible customers.” It also allegedly failed to properly notify and train its advisors with respect to the availability of waivers for certain customers, and did not adopt proper controls to detect cases in which waivers were not provided to eligible customers.

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John Carl

Publicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on December 7, 2017 indicate that New York-based Janney Montgomery Scott broker/adviser John Carl has been named respondent in a FINRA investigation into alleged rule violations. Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Carl (CRD# 2905059).

John Carl has spent twenty years in the securities industry and has been registered with Janney Montgomery Scott in Saratoga Springs, New York since 2015. Previous registrations include Morgan Stanley in Saratoga Springs, New York (2009-2015); Morgan Stanley & Company in Saratoga Springs, New York (2009); Wachovia Securities in Latham, New York (2003-2009); Prudential Securities in New York, New York (2000-2003); and Salomon Smith Barney in New York, New York (1997-2000). He has passed four securities industry examinations: Series 65 (Uniform Investment Adviser Law Examination), which he obtained on September 8, 1997; Series 63 (Uniform Securities Agent State Law Examination), which he obtained on August 25, 1997; Series 31 (Futures Managed Funds Examination), which he obtained on January 12, 2010; and Series 7 (General Securities Representative Examination), which he obtained on August 11, 1997. He is a registered broker and investment adviser with 18 US states and territories: California, Colorado, Connecticut, Florida, Georgia, Illinois, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Texas and Vermont. He is registered with three self-regulatory organizations (SROs): FINRA, the Nasdaq Stock Market, and the New York Stock Exchange.

According to his BrokerCheck report, John Carl has been named in a FINRA investigation into alleged rule violations.

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