FINRA Enforcement Actions – October, 2011

FINRA Arbitration and Litigation Lawyer, Russell L. Forkey, Esq. is available for a free consultation if you have suffered investment losses relative to any of the matters set forth below:

Periodically, the Financial Industry Regulatory Authority, Inc. (FINRA) publically announces, on its website, enforcement actions that have either recently been settled by or commenced against broker/dealers and/or associated persons.

We review these settlements and filed actions each month and provide a brief description of those matters which we believe will be of interest to investors.

Please keep in mind that the complaints issued by FINRA represents FINRA’s initiation of a formal proceeding in which findings as to the allegations in the complaint have not been made, and does not represent a decision as to any of the allegations contained in the complaint. Because these complaints have not yet been adjudicated, you may wish to contact the respondents before drawing any conclusions regarding the allegations in the complaint.

Recently, FINRA posted a new online data base which provides access to copies of documents underlying certain of the matters discussed herein. Read More.

October, 2011:

Tradespot Markets Inc. (CRD #29683, Davie, Florida) and Mark Bedros Beloyan (CRD #1392748, Registered Principal, Davie, Florida) submitted an Offer of Settlement in which the firm was censured and fined $25,000, and Beloyan was suspended from association with any FINRA member in any capacity for one month and suspended from association with any FINRA member in any principal capacity for an additional month. Read More.

October, 2011:

BATS Trading, Inc. (CRD #136734, Lenexa, Kansas) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $307,500. Read More.

October, 2011:

Brookstone Securities, Inc. (CRD #13366, Lakeland, Florida) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $15,000. Read More.

October, 2011:

Carty & Company, Inc. (CRD #7001, Memphis, Tennessee) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $25,000. Read More.

October, 2011:

CBG Financial Group, Inc. (CRD #6578, Boca Raton, Florida) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $50,000. Read More.

October, 2011:

Continental Investors Services, Inc. (CRD #29775, Longview, Washington) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured, fined $35,000 and required to revise its WSPs regarding fair pricing for municipal securities transactions. Read More.

October, 2011:

RBC Capital Markets, LLC (CRD #31194, New York, New York) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured, fined $95,000 and ordered to pay $32,913.50, plus interest, in restitution to investors. Read More.

October, 2011:

TD Ameritrade, Inc. (CRD #7870, Bellevue, Nebraska) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $100,000. Read More.

October, 2011:

Woodbury Financial Services, Inc. (CRD #421, Oak Dale, Minnesota) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $75,000. Read More.

October, 2011:

Clyde Allen Benninghoff (CRD #18463, Registered Principal, Amelia Island, Florida) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Read More.

October, 2011:

Frank Bianculli (CRD #5452027, Registered Representative, Plainview, New York) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Read More.

October, 2011:

Lonnie Lee Dusenberry (CRD #3084887, Registered Representative, Elk Grove, California) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Read More.

October, 2011:

Patrick Francis Harte Jr. (CRD #1865650, Registered Principal, Plano, Texas) was barred from association with any FINRA member in any capacity. Read More.

October, 2011:

Jo Ann Marie Head (CRD #3009195, Reg. Representative, Whittier, California) was barred from association with any FINRA member in any capacity and ordered to pay restitution to a customer in the principal amount of $19,000, which represents the amount of a loan that has not been repaid, plus interest. Read More.

October, 2011:

William James Lasko (CRD #303150, Registered Principal, Carrollton, Texas) submitted an Offer of Settlement in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for three months. Read More.

October, 2011:

Felipe J. Lorie (CRD #1861011, Registered Representative, Coral Gables, Florida) was barred from association with any FINRA member in any capacity. Read More.

October, 2011:

David Angelo Maltese (CRD #2562471, Registered Rep., Boca Raton, Florida) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Read More.

October, 2011:

Ronald Marvin (CRD #722277, Registered Representative, Weston, Connecticut) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Read More.

October, 2011:

Miguel Alex Rosas (CRD #5159207, Registered Rep, Naperville, Illinois) submitted a Letter of Acceptance, Waiver and Consent in which he was barred from association with any FINRA member in any capacity. Read More.