FINRA Enforcement Actions 2012

Roland Craig Matatics – West Palm Beach, Florida Account Executive Theft and Conversion FINRA, AAA and JAMS Arbitration and Litigation Attorney

Published on: November 4, 2012 | By Russell L. Forkey, P.A.

Roland Craig Matatics – Keene, New Hampshire:

The Financial Industry Regulatory Authority, Inc. (FINRA) is a self-regulatory authority assigned the responsibility, by the Securities and Exchange Commission, to license, regulate and discipline securities broker/dealers and their employees, including account executives. In the event that FINRA elects to institute and enforcement action, firms and licensed individuals have the responsibility to reflect such action of their U-4 and/or U-5 filings, which can be viewed on the FINRA website under the broker-check section of the site or by viewing the monthly disciplinary information also provided on the FINRA site.

The monthly disciplinary information is referenced on the site generally in alphabetical order. This post relates to the following company or individual. If the reader would like to review the entire FINRA release or the broker-check information, you can follow these highlighted links:

Harrison A. Hatzis – Hallandale, Florida Broker/Dealer and Investment Advisor Mismanagement and Negligent Supervision FINRA Arbitration and Litigation Attorney

Published on: November 3, 2012 | By Russell L. Forkey, P.A.

Harrison A. Hatzis – Hallandale, Florida:

The Financial Industry Regulatory Authority, Inc. (FINRA) is a self-regulatory authority assigned the responsibility, by the Securities and Exchange Commission, to license, regulate and discipline securities broker/dealers and their employees, including account executives. In the event that FINRA elects to institute and enforcement action, firms and licensed individuals have the responsibility to reflect such action of their U-4 and/or U-5 filings, which can be viewed on the FINRA website under the broker-check section of the site or by viewing the monthly disciplinary information also provided on the FINRA site.

The monthly disciplinary information is referenced on the site generally in alphabetical order. This post relates to the following company or individual. If the reader would like to review the entire FINRA release or the broker-check information, you can follow these highlighted links:

Carolyn Avia Harmon – Royal Palm Beach, Florida Broker/Dealer and Investment Advisor Theft and Conversion FINRA Arbitration and Litigation Attorney

Published on: November 3, 2012 | By Russell L. Forkey, P.A.

Carolyn Avia Harmon – Lenoir, North Carolina:

The Financial Industry Regulatory Authority, Inc. (FINRA) is a self-regulatory authority assigned the responsibility, by the Securities and Exchange Commission, to license, regulate and discipline securities broker/dealers and their employees, including account executives. In the event that FINRA elects to institute and enforcement action, firms and licensed individuals have the responsibility to reflect such action of their U-4 and/or U-5 filings, which can be viewed on the FINRA website under the broker-check section of the site or by viewing the monthly disciplinary information also provided on the FINRA site.

The monthly disciplinary information is referenced on the site generally in alphabetical order. This post relates to the following company or individual. If the reader would like to review the entire FINRA release or the broker-check information, you can follow these highlighted links:

Eugenio Verzili – Hollywood, Florida Investor Advisor Fraud and Misrepresentation FINRA Arbitration and Litigation Attorney

Published on: November 3, 2012 | By Russell L. Forkey, P.A.

In the Matter of Eugenio Verzili

Recently, the Securities and Exchange Commission (“the Commission”) issued an Order Instituting Administrative Proceedings Pursuant to Section 203(f) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions (Order) against Eugenio Verzili (Verzili). The Order finds that on July 3, 2012, a judgment was entered by consent against Verzili in SEC v. Juno Mother Earth Asset Management, LLC, et al. (Civil Action Number 11 Civ. 1778 (TPG) (S.D.N.Y.)), permanently enjoining Verzili from violations of Section 17(a) of the Securities Act of 1933, Section 10(b) of the Securities Exchange Act of 1934, and Rule 10b-5 thereunder, and Sections 203A, 206(1), 206(2), 206(4) and 207 of the Advisers Act of 1940, and Rules 206(4)-2 and 206(4)-8 thereunder.

The Order finds that the Commission’s complaint in SEC v. Juno Mother Earth Asset Management, LLC, et al. alleged that Verzili, Arturo Allan Rodriguez Lopez and Juno Mother Earth Asset Management LLC (Juno) orchestrated a multi-faceted scheme to defraud a hedge fund under their control, as well as the investors in the fund, and failed to comply with their fiduciary obligations to the hedge fund, through: (a) misappropriating approximately $1.8 million of assets from a Juno-advised hedge fund; (b) fraudulently concealing their misappropriation from the fund’s independent directors; (c) inflating and misrepresenting Juno’s assets under management by approximately $40 million; (d) filing false Forms ADV with the Commission that, among other things, failed to disclose transactions between Juno and the hedge fund; (e) concealing Juno’s precarious financial condition; and (f) misrepresenting the amount of capital certain Juno partners had invested in a Juno-advised fund.

Philip Christopher Crescimanno – Land O’ Lakes, Florida Unapproved Outside Business Activity FINRA Arbitration and Litigation Attorney

Published on: November 1, 2012 | By Russell L. Forkey, P.A.

Philip Christopher Crescimanno – Land O’ Lakes, Florida:

The Financial Industry Regulatory Authority, Inc. (FINRA) is a self-regulatory authority assigned the responsibility, by the Securities and Exchange Commission, to license, regulate and discipline securities broker/dealers and their employees, including account executives. In the event that FINRA elects to institute and enforcement action, firms and licensed individuals have the responsibility to reflect such action of their U-4 and/or U-5 filings, which can be viewed on the FINRA website under the broker-check section of the site or by viewing the monthly disciplinary information also provided on the FINRA site.

The monthly disciplinary information is referenced on the site generally in alphabetical order. This post relates to the following company or individual. If the reader would like to review the entire FINRA release or the broker-check information, you can follow these highlighted links:

Timonthy David Cochrane – Margate, Florida Broker/Dealer Theft and Conversion FINRA Arbitration and Litigation Attorney

Published on: November 1, 2012 | By Russell L. Forkey, P.A.

Timothy David Cochrane – Eureks, California:

The Financial Industry Regulatory Authority, Inc. (FINRA) is a self-regulatory authority assigned the responsibility, by the Securities and Exchange Commission, to license, regulate and discipline securities broker/dealers and their employees, including account executives. In the event that FINRA elects to institute and enforcement action, firms and licensed individuals have the responsibility to reflect such action of their U-4 and/or U-5 filings, which can be viewed on the FINRA website under the broker-check section of the site or by viewing the monthly disciplinary information also provided on the FINRA site.

The monthly disciplinary information is referenced on the site generally in alphabetical order. This post relates to the following company or individual. If the reader would like to review the entire FINRA release or the broker-check information, you can follow these highlighted links:

Russell Kent Childs – Coral Springs, Florida Broker/Dealer and Investment Advisor Private Placement Suitability FINRA Arbitration and Litigation Attorney

Published on: November 1, 2012 | By Russell L. Forkey, P.A.

Russell Kent Child – Spring, Texas:

The Financial Industry Regulatory Authority, Inc. (FINRA) is a self-regulatory authority assigned the responsibility, by the Securities and Exchange Commission, to license, regulate and discipline securities broker/dealers and their employees, including account executives. In the event that FINRA elects to institute and enforcement action, firms and licensed individuals have the responsibility to reflect such action of their U-4 and/or U-5 filings, which can be viewed on the FINRA website under the broker-check section of the site or by viewing the monthly disciplinary information also provided on the FINRA site.

The monthly disciplinary information is referenced on the site generally in alphabetical order. This post relates to the following company or individual. If the reader would like to review the entire FINRA release or the broker-check information, you can follow these highlighted links:

Lowell Andrew Chick – Davie, Florida Theft and Conversion Broker/Dealer and Investment Advisor FINRA Arbitration and Litigation Attorney

Published on: November 1, 2012 | By Russell L. Forkey, P.A.

Lowell Andrew Chick – Williamsville, New York:

The Financial Industry Regulatory Authority, Inc. (FINRA) is a self-regulatory authority assigned the responsibility, by the Securities and Exchange Commission, to license, regulate and discipline securities broker/dealers and their employees, including account executives. In the event that FINRA elects to institute and enforcement action, firms and licensed individuals have the responsibility to reflect such action of their U-4 and/or U-5 filings, which can be viewed on the FINRA website under the broker-check section of the site or by viewing the monthly disciplinary information also provided on the FINRA site.

The monthly disciplinary information is referenced on the site generally in alphabetical order. This post relates to the following company or individual. If the reader would like to review the entire FINRA release or the broker-check information, you can follow these highlighted links:

Tilden Loucks, & Woodnorth, LLC, Lasalle St. Securities and Ralph B. Loucks – Lake Worth, Florida Broker/Dealer and Investment Advisor Fraud and Misrepresentation FINRA Arbitration and Litigation Attorney

Published on: November 1, 2012 | By Russell L. Forkey, P.A.

In the Matter of Tilden Loucks & Woodnorth, LLC, Lasalle St. Securities, LLC, and Ralph B. Loucks

Recently, the Securities and Exchange Commission, (“the Commission”) issued an Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Section 15(b) of the Securities Exchange Act of 1934 and Sections 203(e), 203(f) and 203(k) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order (the Order) against Tilden Loucks & Woodnorth, LLC (Tilden), an investment adviser registered with the Commission, LaSalle St. Securities, LLC (LaSalle), a broker-dealer registered with the Commission, and Ralph B. Loucks (Loucks), a former senior vice president of Tilden who is a registered representative of LaSalle. The Order finds that, from October 1, 2007 through March 22, 2012, Tilden obtained undisclosed compensation by charging increased commissions on trades for its clients through its affiliated broker-dealer, LaSalle. The Order also finds that Tilden failed to seek best execution for its clients’ securities transactions and made misleading statements in its Forms ADV concerning the steps it would take to evaluate execution of client trades and ensure that commission rates were reasonable.

Specifically, the Order finds that most trades for Tilden’s clients are executed by LaSalle. From October 1, 2007 through March 22, 2012, Tilden’s clients paid commissions at LaSalle that averaged more than $143 per trade, even though the majority of trades consisted of buys and sells of large cap equities. Tilden did not tell its clients the true nature of the commissions it charged by stating in its Forms ADV that clients obtained a significant “discount” to LaSalle’s scheduled retail brokerage charges. However, LaSalle had no scheduled retail brokerage charges or commission schedules. Instead, unbeknownst to Tilden’s clients, Tilden set LaSalle’s commission charges at rates exceeding LaSalle’s charge to Tilden to execute a trade and the “discount” was in reality only a price lower than those reflected on a commission schedule supplied by Tilden that dated to at least 1988. Tilden’s undisclosed compensation practices netted it more than $186,000 in higher commissions paid by advisory clients. Ralph B. Loucks (“Loucks”), Tilden’s former senior vice-president, who also served as a registered representative of LaSalle, shared in these commissions.

Mayra Alejandra Carpena – North Palm Beach, Florida Broker/Dealer and Investment Advisor Forgery FINRA Arbitration and Litigation Attorney

Published on: October 31, 2012 | By Russell L. Forkey, P.A.

Mayra Alejandra Carpens – Tucson, Arizona:

The Financial Industry Regulatory Authority, Inc. (FINRA) is a self-regulatory authority assigned the responsibility, by the Securities and Exchange Commission, to license, regulate and discipline securities broker/dealers and their employees, including account executives. In the event that FINRA elects to institute and enforcement action, firms and licensed individuals have the responsibility to reflect such action of their U-4 and/or U-5 filings, which can be viewed on the FINRA website under the broker-check section of the site or by viewing the monthly disciplinary information also provided on the FINRA site.

The monthly disciplinary information is referenced on the site generally in alphabetical order. This post relates to the following company or individual. If the reader would like to review the entire FINRA release or the broker-check information, you can follow these highlighted links: