LPL Financial Reaches Settlement with State of Indiana for Failing to Supervise

The State of Indiana recently imposed a $450,000 civil penaltyagainst LPL Financial for failing to supervise the company’s financial advisors on a state-wide basis.  The fine was based on two material deficiencies in LPL’s supervisory system. First, due to an alleged software glitch, LPL supervisors were not monitoring or supervising an undisclosed number of emails. There…

Former Independent Financial Group Advisor Jon Pariser Barred by FINRA for Recommending First Nationale Solution Investments

Stoltmann Law Offices is investigating Jon Pariser, of Pacific Grove, California, who consented to a lifetime bar from the securities industry. Jon Pariser refused to provide information in connection with a FINRA investigation into allegations that he had referred clients to an unregistered advisor who then recommended those clients invest money in unsuitable investments.  More…

Broker Bradley Mascho Barred by FINRA

According to a recent InvestmentNews article, former broker Bradley Mascho allegedly failed to appear at a hearing with the Financial Industry Regulatory Authority (FINRA). Mr. Mascho was terminated from Western International Securities in December 2017. He and Dawn Bennett, who also worked at Western International, were the subjects of an investigation by the Securities and…

Timothy Tilton of Rocky Mountain Ayre Charged with Securities Fraud Involving Cryptocurrency

Stoltmann Law Offices continue to investigate broker Timothy Tilton Ayre of Massachusetts, who has been charged by FINRA with the unlawful distribution of unregistered cryptocurrency securities and fraud.  The FINRA complaint alleges that Ayre bought the rights to HempCoin in 2015.  He repackaged it as a security backed by his own company Rocky Mountain Ayre,…

Former Stockcross Financial Services Broker Herbert Voss Barred From Industry

Former Beverly Hills, California-based Stockcross Financial Services broker Herbert Voss was permanently barred from the financial services industry by the Financial Industry Regulatory Authority (FINRA). This is according to a recent Letter of Acceptance, Waiver and Consent (AWC) signed by Mr. Voss, he consented to a permanent bar because he refused to answer questions levied…

For Investors Interested in Bringing Claims Against Laidlaw & Company

Recently, United Kingdom-based Laidlaw & Co. was sanctioned by the Financial Industry Regulatory Authority (FINRA). According to the firm’s BrokerCheck report with FINRA, the firm has five regulatory sanctions against it. In May 2018, FINRA sanctioned Laidlaw in connection to allegations that it failed to establish and maintain a supervisory system, as well as written…

Former Broker-Dealer John Jumper Indicted on Federal Charges of Embezzling From Pension Fund

John Jumper, a former Memphis, Tennessee-based broker-dealer has been indicted on federal charges of embezzling $5.7 million from a Pennsylvania company’s employee pension fund. Federal prosecutors in Williamsport, Pennsylvania and securities regulators in Atlanta jointly issued news releases announcing charges against him. The criminal indictment in the state accuses John Jumper of forging signatures on…