Overcharging Accounts

Jul 7th, 2017

SPECIAL REPORT: Clay Hoffman of Summit Financial in Brunswick BARRED from securities industry for failure to cooperate with investigation into his alleged unauthorized trading, excessive trading, and fraud

After a long, checkered career, Clay Hoffman has been barred from the securities industry by the Financial Industry Regulatory Authority (FINRA). According to FINRA, Mr. Hoffman […]
Jul 5th, 2017

SPECIAL REPORT: FSC Securities fined for role in Investment Fraud

Following on the heels of a 2016 settlement with the SEC for “willful” violations of the Investment Advisers Act for overcharging clients, FSC Securities recently received […]
Feb 10th, 2017

Investors Overcharged for Mutual Funds by MassMutual, H.D. Vest & Principal Securities, FINRA Alleges

If you bought mutual funds from H.D. Vest or MassMutual’s brokerage arm, MML Investor Services, you may have been overcharged. The Financial Industry Regulatory Authority (FINRA) […]
Nov 18th, 2016

Cambridge Investment Research Customers Who Bought Mutual Funds Charged “Unnecessary” Fees, FINRA Concludes

Mr. Robert (“Bob”) M. Lyons of August, Georgia recently entered into a settlement agreement with the Financial Industry Regulatory Authority for conduct that led to customers […]
Nov 13th, 2016

Sigma Financial Busted for Overcharging Customers on Unit Investment Trusts (UITs)

  Sigma Financial joined a long line of brokerage firms that have gotten in trouble for overcharging customers recently, settling allegations brought by the Financial Industry […]
Dec 23rd, 2015

Denny P. Darmodihardjo of Rockwell Global Suspended From Securities Industry For Unsuitable, Excessive Trading

The Financial Industry Regulatory Authority (FINRA) recently took the rare step of filing an enforcement action against an individual broker for mistreating a customer. As a […]
Nov 27th, 2015

Integrated Trading And Investments Financial Advisor Wayne Thaler Overcharged Clients in Metter, Georgia

A Georgia financial advisor, Wayne Thaler, has been barred from the brokerage industry for three months for charging inflated commissions on the sale of penny stocks. […]
Nov 11th, 2015

Investors Overcharged at National Planning Corp, a Jackson National Life Affiliate

The Financial Industry Regulatory Authority (FINRA) recently fined National Planning Corporation (NPC) $30,000 for overcharging clients who purchased non-traded REITs. Non-traded REITs are a risky, illiquid […]
Oct 9th, 2015

Lee D. Weiss of MIP Global and Family Endowment Partners Sued By SEC

The Securities & Exchange Commission has filed charges against Lee Weiss for what is, frankly, an impressive series of investment schemes and scams for a licensed […]
Oct 5th, 2015

Investing In Physical Gold In Your IRA Is ALWAYS A Bad Investment

There are plenty of folks who like investing in gold. Personally, I don’t see the attraction as an investment, although gold is very shiny. However, if […]