Investors Harmed By Faulty Variable Annuity Exchanges Have Recourse

Two recent enforcement actions from the Financial Industry Regulatory Authority Inc. demonstrate FINRA’s attention on variable annuities, especially faulty annuity exchanges. Brokers typically recommend clients replace annuities under Section 1035 of the tax code. That provides a tax-free transfer for the client, but also generates additional commission for the broker. As such, 1035 exchanges are […]

CMD Investigating Claims Against Kelly Althar and Financial West Group for Unsuitable Recommendations and Engaging in Excessive Trading

Securities law firm Carmel, Milazzo & DiChiara LLP (CMD) is investigating claims against Kelly Althar and Financial West Group for unsuitable recommendations, engaging in excessive trading (churning) and failure to supervise, particularly related to elderly customers. According to FINRA, Kelly Althar made unsuitable recommendations and engaged in excessive trading in an elderly customer’s accounts. FINRA alleges that […]

CMD Investigating Claims Against Mauricio Jaramillo and Ultralat Capital Markets, Inc. for Unsuitable Trading, Unsuitable use of Margin, Short-term Trading and for Failure to Supervise

Securities law firm Carmel, Milazzo & DiChiara LLP (CMD) is investigating claims against Mauricio Jaramillo and Ultralat Capital Markets, Inc. for unsuitable trading, unsuitable use of margin, short-term trading and for failure to supervise. As reported by FINRA, Mr. Jaramillo recommended unsuitable trades in at least three customer accounts, in that he recommended short-term trading in bonds, […]

CMD Investigating Claims Against Christopher B. Ariola, Bay Mutual Financial, LLC and Financial Telesis Inc. for Unsuitable Recommendations in High-Risk Gold and Energy Stocks

Securities law firm Carmel, Milazzo & DiChiara LLP (CMD) is investigating claims against Christopher B. Ariola, Bay Mutual Financial, LLC and Financial Telesis Inc. for unsuitable recommendations and failure to supervise related to high-risk gold and energy stocks. As reported by FINRA, Christopher B. Ariola or Chirs Ariola, made unsuitable recommendations to elderly retirees to […]

CMD Investigating Claims Against CUSO Financial Services, L.P. for Recommending Unsuitable Unit Investment Trusts (UITs)

Securities law firm Carmel, Milazzo & DiChiara LLP (CMD) is investigating claims against CUSO Financial Services, L.P. for recommending unsuitable Unit Investment Trusts (UITs) and for failure to supervise. As reported by FINRA, CUSO Financial Services, L.P. through a registered representative unsuitably solicited and sold to customers certain unit investment trusts (UITs) that invested in […]

CMD Investigating Claims Against Dennis Albert Mehringer Jr. and Western International Securities Inc. for Churning, Unsuitable Recommendations and Failure to Supervise

Securities law firm Carmel, Milazzo & DiChiara LLP (CMD) is investigating claims against Dennis Albert Mehringer Jr. and Western International Securities Inc. for churning (excessive trading), unsuitable recommendations and failure to supervise. According to FINRA, Mr. Mehringer made unsuitable recommendations that caused a customer to engage in excessively expensive short-term trading and intra-day switching of mutual […]

CMD Investigating First Financial Equity Corporation For Recommending Unsuitable ETFs and Excessive Commissions

Securities law firm Carmel, Milazzo & DiChiara LLP (CMD) is investigating claims against First Financial Equity Corporation For recommending unsuitable ETFs (Exchange Traded Funds), charging excessive commissions and for failure to supervise. As reported by FINRA, First Financial Equity Corporation had inadequate procedures with respect to the reasonable-basis suitability requirements, in that it had inadequate processes […]

CMD Investigating K.C. Ward Financial and Craig David Dima for Unauthorized Trading

Securities law firm Carmel, Milazzo & DiChiara LLP (CMD) is investigating claims against K.C. Ward Financial and Craig David Dima for unauthorized trading and failure to supervise. As reported by FINRA, Craig David Dima, a former K.C. Ward Financial registered rep, allegedly sold off almost all the holdings of one of his 73-year-old retired clients […]

CMD Investigating Claims Against Richard Gomez for Unsuitable Recommendations and Failure to Supervise

Securities law firm Carmel, Milazzo & DiChiara LLP (CMD) is investigating claims against securities broker Richard Gomez and brokerage firms Woodstock Financial Group Inc. and Rockwell Global Capital, LLC for unsuitable recommendations and failure to supervise.  According to Mr. Gomez’s FINRA BrokerCheck, he has been the subject of at least three (3) customer complaints. In September 2016, Gomez was barred from […]

CMD Investigating Claims Against Lawrence Roberson and Capital City Securities, LLC for Misrepresentations and Fraud

Securities law firm Carmel, Milazzo & DiChiara LLP (CMD) is investigating claims against securities broker Lawrence Roberson and brokerage firm Capital City Securities, LLC for misrepresentations and omissions, fraud and failure to supervise.  According to Mr. Roberson’s FINRA BrokerCheck, he has been the subject of at least five (5) regulatory inquires. In September 2016, Roberson consented to the […]