Articles Tagged with outside business activities

Alex James (CRD#: 5630825), a former registered representative with Allstate Financial Services LLC (CRD#: 18272) in West Palm Beach, Florida, is currently being investigated by the Financial Industry Regulatory Authority (FINRA) for potentially undisclosed outside business activities, according to his BrokerCheck record accessed on March 16, 2020. 

Alex James
What happened to lead to this FINRA investigation? On March 6, 2020, FINRA recommended that disciplinary action be brought against Alex James for violating FINRA Rule 3270 and FINRA Rule 2010. FINRA Rule 3270 mandates that brokers receive written approval from their member firms before engaging in any outside business activities. FINRA alleges that Alex James did not do that, instead engaging in private securities activities totaling approximately $667,000. FINRA Rule 2010 mandates that brokers act in a professional manner, and FINRA alleges that Alex James violated Rule 2010 by allegedly providing false information to his firm on annual compliance questionnaires, stating that he reported all outside business activities when that was allegedly not true. 

The Detailed Report of Alex James’s BrokerCheck record lists four outside business activities:

Paris Lewis (CRD#: 2335964) has been terminated from his role as a broker with NYLife Securities LLC, according to his BrokerCheck record accessed on March 3, 2020.

What happened to lead to Paris Lewis’s termination? On December 22, 2019, NYLife Securities terminated Paris Lewis after the firm found that he violated company policy by borrowing money from a customer. How did the brokerage firm become aware of Paris Lewis’s alleged misconduct? The firm received a verbal customer complaint.

This is not the first time that Paris Lewis has been discharged from a firm. On February 26, 2015, MetLife discharged Paris Lewis after the firm found that he did not follow firm policy regarding outside business activities. Per FINRA rules, brokers must receive written approval from their firms before engaging in outside business activities, including private securities transactions.

Robert BeckPublic records published by the Financial Industry Regulatory Authority (FINRA) on June 30, 2016 indicate that former Pennsylvania-based Morgan Stanley broker Robert Beck is currently not licensed to act as a broker or an investment adviser. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Beck (CRD# 2121454).

Robert Beck has spent 25 years in the securities industry and was most recently registered with Morgan Stanley in Jenkintown, Pennsylvania (2012-2016). Previous registrations include UBS Financial Services in Philadelphia, Pennsylvania (2001-2012); First Union Securities in St. Louis, Missouri (1999-2001); First Union Capital Markets in Charlotte, North Carolina (1997-1999); and Prudential Securities in New York, New York (1991-1997). He is currently not registered with any state or firm. Continue Reading

Daniel MillerPublic records published by the Financial Industry Regulatory Authority (FINRA) on June 28, 2016 indicate that former California-based Growth Capital Services broker Daniel Miller has been sanctioned by FINRA. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Miller (CRD# 5551362).

Daniel Miller has spent one year in the securities industry and was most recently registered with Growth Capital Services in San Francisco, California (2013-2014). He has no previous registrations and is currently not registered with any state or firm. Continue Reading

Jim SeolPublic records published by the Financial Industry Regulatory Authority (FINRA) on June 28, 2016 indicate that former California-based Ameriprise broker Jim Seol has been named in a pending FINRA complaint. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Seol (CRD# 2876279).

Jim Seol has spent 16 years in the securities industry and was most recently registered with Ameriprise Financial Services in Irvine, California (1997-2014). He was previously registered with IDS Life Insurance in Minneapolis, Minnesota (1997-2006). He is currently not registered with any state or firm. Continue Reading

Zahir WaljiPublicly available records published by the Financial Industry Regulatory Authority (FINRA) on June 20, 2016 indicate that former Texas-based Oppenheimer broker Zahir Walji is currently not registered to act as a broker or an investment adviser. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Walji (CRD# 5073186).

Zahir Walji has spent eight years in the securities industry and was most recently registered with Oppenheimer & Company in Austin, Texas (2012-2014). He was previously registered with UBS Financial Services in Austin, Texas (2006-2012). He is currently not registered with any state or firm. Continue Reading

John FurkiotiPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on June 14, 2016 indicate that former Michigan-based First American Securities broker John Furkioti has been sanctioned by FINRA. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Furkioti (CRD# 5005622).

John Furkioti has spent nine years in the securities industry and was most recently registered with First American Securities in Livonia, Michigan (2013-2016). Previous registrations include W.R. Rice Financial Services, which has since been expelled by FINRA, in Bay City, Michigan, and UBS Financial Services in Farmington Hills, Michigan. He is currently not registered with any state or firm. Continue Reading

James GoetzPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on June 2016 indicate that New York-based Stifel Nicolaus broker/adviser James Goetz, Jr. is the subject of a pending FINRA complaint. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Goetz (CRD# 2826111).

 James Goetz has spent 18 years in the securities industry and has been registered with Stifel Nicolaus & Company in Fairport, New York since 2014. He was previously registered with Merrill Lynch in Pittsford, New York (1998-2014). He is a registered broker and investment adviser with 24 US states and territories. Continue Reading

Randall Skrabonja Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) on June 9, 2016 indicate that Florida-based Sagepoint Financial broker Randall Skrabonja was discharged from his former position at MetLife Securities. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Skrabonja (CRD# 1858245).

Randall Skrabonja has spent 26 years in the securities industry and has been registered with Sagepoint Financial in Oakland Park, Florida since May 2016. Previous registrations include MetLife Securities in West Palm Beach, Florida; Metropolitan Life Insurance Company in New York, New York; High Mark Securities in Lakeland, Florida; PMG Securities Corporation in Elgin, Illinois; the Variable Annuity Life Insurance Company in Houston, Texas; Public Employee Equities Services Company in Palm Beach Gardens, Florida; First Montauk Securities in Red Bank, New Jersey; Cadaret Grant & Company in Syracuse, New York; Travelers Equity Sales in El Segundo, California; and the Randall-George Corporation. He is currently not registered with any state. Continue Reading

Ben GreggPublicly available records provided by the Financial Industry Regulatory Authority (FINRA) on May 30, 2016 indicate that former Tennessee-based Allstate Financial Services broker Douglas Gregg, also known as Ben Gregg, has been sanctioned by FINRA. The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding Mr. Gregg (CRD# 4646585).

Ben Gregg has spent nine years in the securities industry and was most recently registered with Allstate Financial Services in Nashville, Tennessee. He was previously registered with Farmers Financial Solutions in Lakewood, Washington (2003-2011) and Woodbury Financial Services in Oakdale, Minnesota (2003). He is currently not registered with any state or firm. Continue Reading