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Russell L. Forkey

Market Volatility - Margin Accounts - Margin Calls, Margin Abuse and Account Deficits Especially Relating to Option Transactions - Boca Raton, Florida Margin Deficit FINRA Arbitration Attorney

Market Volatility - Margin Accounts - Margin Calls, Margin Abuse and Account Deficits Especially Relating to Option Transactions - Boca Raton, Florida Margin Deficit FINRA Arbitration Attorney:

There is a substantial difference between the risks and rewards arising from the use of a margin account as opposed to a cash account. This is especially true when one is exposed to the type of volatility that the markets have recently experienced. It is not uncommon in these types of volatile and fast moving markets, especially when one is on the wrong side of a option position, that all of the account's equity is lost but that an account deficit might result. In such a situation, it is important to immediately consult with an experienced attorney in such matters. This is especially true if your broker is demanding that the client payoff a deficit in the account.

For the notice investor, the below discussion generally describes the difference between a cash and margin account.

A "cash account" is a type of brokerage account in which the investor must pay the full amount for securities purchased. An investor using a cash account is not allowed to borrow funds from his or her broker-dealer in order to pay for transactions in the account. A "margin account" is a type of brokerage account in which the broker-dealer lends the investor cash, using the account as collateral, to purchase securities. Margin increases investors' purchasing power, but also exposes investors to the potential for larger losses. Here's what you need to know about margin.

Understand How Margin Works:

Let's say you buy a stock for $50 and the price of the stock rises to $75. If you bought the stock in a cash account and paid for it in full, you'll earn a 50 percent return on your investment. But if you bought the stock on margin-paying $25 in cash and borrowing $25 from your broker-after paying back the broker, you'll earn a 100 percent return on the $25 you invested (minus any interest you owed the broker). The downside to using margin is that if the stock price decreases, substantial losses can mount quickly. For example, let's say the stock you bought for $50 falls to $25. If you fully paid for the stock, you'll lose 50 percent of your money. But if you bought on margin, you'll lose 100 percent, and you still must come up with the interest you owe on the loan. Investors who put up an initial margin payment for a stock may, from time to time, be required to provide the broker with additional cash or securities if the price of the stock falls. Some investors have been shocked to find out that the brokerage firm has the right to sell their securities that were bought on margin-without any notification and potentially at a substantial loss to the investor. If your broker sells your stock after the price has plummeted, then you've lost out on the chance to recoup your losses if themarket bounces back.

Recognize the Risks:

Margin accounts can be very risky and they are not appropriate for everyone. Before opening a margin account, you should fully understand that:

•· You can lose more money than you have invested;

•· You may have to deposit additional cash or securities in your account on short notice to cover market losses;

•· You may be forced to sell some or all of your securities when falling stock prices reduce the value of your securities; and

•· Your brokerage firm may sell some or all of your securities without consulting you to pay off the loan it made to you.

You can protect yourself by:

•· Knowing how a margin account works and what happens if the price of the securities purchased on margin declines.

•· Understanding that your broker charges you interest for borrowing money and how that will affect the total return on your investments.

•· Being aware that not all securities can be purchased on margin.

•· Asking your broker whether trading on margin is appropriate for you in light of your financial resources, investment objectives and risk tolerance.

Contact Us:

With extensive courtroom, arbitration and mediation experience and an in-depth understanding of elder abuse, exploitation and securities law, our firm provides all of our clients with the personal service they deserve. Handling cases worth $25,000 or more, we represent clients throughout Florida and across the United States, as well as for foreign individuals that invested in U.S. banks or brokerage firms. Contact us to arrange your free initial consultation.

At the Boca Raton Law Office of Russell L. Forkey, we represent clients throughout South and Central Florida, including Fort Lauderdale, West Palm Beach, Boca Raton, Sunrise, Plantation, Coral Springs, Deerfield Beach, Pompano Beach, Delray, Boynton Beach, Hollywood, Lake Worth, Royal Palm Beach, Manalapan, Jupiter, Gulf Stream, Wellington, Fort Pierce, Stuart, Palm City, Jupiter, Miami, Orlando, Maitland, Winter Park, Altamonte Springs, Lake Mary, Heathrow, Melbourne, Palm Bay, Cocoa Beach, Vero Beach, Daytona Beach, Deland, New Smyrna Beach, Ormand Beach, Broward County, Palm Beach County, Dade County, Orange County, Seminole County, Martin County, Brevard County, Indian River County, Volusia County and Monroe County, Florida. The law office of Russell L. Forkey also represents South American, Canadian and other foreign residents that do business with U.S. financial institutions, investment advisors, brokerage and precious metal firms.

Exchange-Traded Notes (ETN), Leveraged and Inverseleveraged ETFs - Unsuitable Investment Recommendations, FINRA Arbitration Attorney

Exchange-Traded Notes (ETN), Leveraged and Inverseleveraged ETFs - Unsuitable Investment Recommendations, FINRA Arbitration Attorney:

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 an enforcement action, firms and licensed individuals have the responsibility to reflect such action on 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 FINRA site generally in alphabetical order. This post relates to the following company or individuals. If the reader would like to review the entire FINRA release or the broker-check information concerning this matter, you can follow these highlighted links:

August 2015 Disciplinary and Other FINRA Actions:

http://www.finra.org/sites/default/files/publication_file/August_2015_Disciplinary_Actions.pdff

Broker Check: http://www.finra.org/Investors/ToolsCalculators/BrokerCheck//

Jeffrey David Daggett (CRD #843023, Temecula, California) submitted an AWC in which he was assessed a deferred fine of $20,000 and suspended from association with any FINRA member in any capacity for four months. Without admitting or denying the findings, Daggett consented to the sanctions and to the entry of findings that he recommended unsuitable transactions in an exchange-traded note (ETN), and leveraged and inverseleveraged ETFs (non-traditional ETFs) in the accounts of his customer. The findings stated that Daggett recommended the ETN and non-traditional ETFs without having reasonable grounds for believing that the securities were suitable for the customer in view of the customer's financial situation, investment objectives and needs. The customer's realized and unrealized losses from investing in the ETN and non-traditional leveraged ETFs were approximately $88,099.75.  The suspension is in effect from July 6, 2015, through November 5, 2015. (FINRA Case#2012035383801).

Contact Us:

With extensive courtroom, arbitration and mediation experience and an in-depth understanding of elder abuse, exploitation and securities law, our firm provides all of our clients with the personal service they deserve. Handling cases worth $25,000 or more, we represent clients throughout Florida and across the United States, as well as for foreign individuals that invested in U.S. banks or brokerage firms. Contact us to arrange your free initial consultation.

At the Boca Raton Law Office of Russell L. Forkey, we represent clients throughout South and Central Florida, including Fort Lauderdale, West Palm Beach, Boca Raton, Sunrise, Plantation, Coral Springs, Deerfield Beach, Pompano Beach, Delray, Boynton Beach, Hollywood, Lake Worth, Royal Palm Beach, Manalapan, Jupiter, Gulf Stream, Wellington, Fort Pierce, Stuart, Palm City, Jupiter, Miami, Orlando, Maitland, Winter Park, Altamonte Springs, Lake Mary, Heathrow, Melbourne, Palm Bay, Cocoa Beach, Vero Beach, Daytona Beach, Deland, New Smyrna Beach, Ormand Beach, Broward County, Palm Beach County, Dade County, Orange County, Seminole County, Martin County, Brevard County, Indian River County, Volusia County and Monroe County, Florida. The law office of Russell L. Forkey also represents South American, Canadian and other foreign residents that do business with U.S. financial institutions, investment advisors, brokerage and precious metal firms.

Ronald Seth Cohen - Unapproved Outside Business Activity Fort Lauderdale, Florida FINRA Arbitration Attorney

Ronald Seth Cohen - Unapproved Outside Business Activity Fort Lauderdale, Florida FINRA Arbitration Attorney:

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 an enforcement action, firms and licensed individuals have the responsibility to reflect such action on 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 FINRA site generally in alphabetical order. This post relates to the following company or individuals. If the reader would like to review the entire FINRA release or the broker-check information concerning this matter, you can follow these highlighted links:

August 2015 Disciplinary and Other FINRA Actions:

http://www.finra.org/sites/default/files/publication_file/August_2015_Disciplinary_Actions.pdff

Broker Check: http://www.finra.org/Investors/ToolsCalculators/BrokerCheck/

Ronald Seth Cohen (CRD #2419431, Boca Raton, Florida) submitted an AWC in which he was assessed a deferred fine of $10,000 and suspended from association with any FINRA member in any capacity for four months. Without admitting or denying the findings, Cohen consented to the sanctions and to the entry of findings that he engaged in three outside business activities without providing prior written notice to his member firm. The findings stated that Cohen actively managed three businesses and received approximately $466,200 in compensation from the businesses' owner, a firm customer. The findings also stated that Cohen made misrepresentations to his firm regarding his participation in the outside business activities by falsely stating that he disclosed all outside business activities on two annual compliance questionnaires. These representations were false, as Cohen had not disclosed his participation in the three outside business activities.

The suspension is in effect from July 6, 2015, through November 5, 2015. (FINRA Case #2014042790701).

Contact Us:

With extensive courtroom, arbitration and mediation experience and an in-depth understanding of elder abuse, exploitation and securities law, our firm provides all of our clients with the personal service they deserve. Handling cases worth $25,000 or more, we represent clients throughout Florida and across the United States, as well as for foreign individuals that invested in U.S. banks or brokerage firms. Contact us to arrange your free initial consultation.

At the Boca Raton Law Office of Russell L. Forkey, we represent clients throughout South and Central Florida, including Fort Lauderdale, West Palm Beach, Boca Raton, Sunrise, Plantation, Coral Springs, Deerfield Beach, Pompano Beach, Delray, Boynton Beach, Hollywood, Lake Worth, Royal Palm Beach, Manalapan, Jupiter, Gulf Stream, Wellington, Fort Pierce, Stuart, Palm City, Jupiter, Miami, Orlando, Maitland, Winter Park, Altamonte Springs, Lake Mary, Heathrow, Melbourne, Palm Bay, Cocoa Beach, Vero Beach, Daytona Beach, Deland, New Smyrna Beach, Ormand Beach, Broward County, Palm Beach County, Dade County, Orange County, Seminole County, Martin County, Brevard County, Indian River County, Volusia County and Monroe County, Florida. The law office of Russell L. Forkey also represents South American, Canadian and other foreign residents that do business with U.S. financial institutions, investment advisors, brokerage and precious metal firms.

John Cherry III - Conversion of Client Funds, Fraud and Misrepresentation Boca Raton, Florida FINRA Arbitration Attorney

John Cherry III - Conversion of Client Funds, Fraud and Misrepresentation Boca Raton, Florida FINRA Arbitration Attorney:

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 an enforcement action, firms and licensed individuals have the responsibility to reflect such action on 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 FINRA site generally in alphabetical order. This post relates to the following company or individuals. If the reader would like to review the entire FINRA release or the broker-check information concerning this matter, you can follow these highlighted links:

August 2015 Disciplinary and Other FINRA Actions:

http://www.finra.org/sites/default/files/publication_file/August_2015_Disciplinary_Actions.pdff

Broker Check: http://www.finra.org/Investors/ToolsCalculators/BrokerCheck/

John Cherry III (CRD #1891720, New York, New York) was barred from association with any FINRA member in any capacity and ordered to pay $138,235.38 in restitution and $300,000 in disgorgement, along with prejudgment interest on both amounts. The NAC imposed these sanctions following an appeal of an OHO decision. Cherry appealed this matter to the SEC but later withdrew his application. The sanctions are based on findings that Cherry converted $474,000 in customers' funds to purchase a house without the customers' knowledge or authorization. At Cherry's direction, the customers transferred their funds to a company Cherry owned and controlled for the purpose of investing in securities.  Rather than investing the funds in securities as the customers had directed, Cherry used the funds to purchase the house in which he and his wife were living.  To review the release, please follow the above link.

 Contact Us:

With extensive courtroom, arbitration and mediation experience and an in-depth understanding of elder abuse, exploitation and securities law, our firm provides all of our clients with the personal service they deserve. Handling cases worth $25,000 or more, we represent clients throughout Florida and across the United States, as well as for foreign individuals that invested in U.S. banks or brokerage firms. Contact us to arrange your free initial consultation.

At the Boca Raton Law Office of Russell L. Forkey, we represent clients throughout South and Central Florida, including Fort Lauderdale, West Palm Beach, Boca Raton, Sunrise, Plantation, Coral Springs, Deerfield Beach, Pompano Beach, Delray, Boynton Beach, Hollywood, Lake Worth, Royal Palm Beach, Manalapan, Jupiter, Gulf Stream, Wellington, Fort Pierce, Stuart, Palm City, Jupiter, Miami, Orlando, Maitland, Winter Park, Altamonte Springs, Lake Mary, Heathrow, Melbourne, Palm Bay, Cocoa Beach, Vero Beach, Daytona Beach, Deland, New Smyrna Beach, Ormand Beach, Broward County, Palm Beach County, Dade County, Orange County, Seminole County, Martin County, Brevard County, Indian River County, Volusia County and Monroe County, Florida. The law office of Russell L. Forkey also represents South American, Canadian and other foreign residents that do business with U.S. financial institutions, investment advisors, brokerage and precious metal firms.

Mark Andrew Bullivant - Conversion of Client Funds, Boca Raton, Florida FINRA Arbitration Attorney

Mark Andrew Bullivant - Conversion of Client Funds, Boca Raton, Florida FINRA Arbitration Attorney:

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 an enforcement action, firms and licensed individuals have the responsibility to reflect such action on 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 FINRA site generally in alphabetical order. This post relates to the following company or individuals. If the reader would like to review the entire FINRA release or the broker-check information concerning this matter, you can follow these highlighted links:

August 2015 Disciplinary and Other FINRA Actions:

http://www.finra.org/sites/default/files/publication_file/August_2015_Disciplinary_Actions.pdff

Broker Check: http://www.finra.org/Investors/ToolsCalculators/BrokerCheck//

Mark Andrew Bullivant (CRD #4444874, Fort Myers, Florida) submitted an AWC in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Bullivant consented to the sanction and to the entry of findings that he refused to appear for FINRA-requested on-the-record testimony involving an investigation into whether he had converted customer funds. (FINRA Case #2013039617201).

 Contact Us:

With extensive courtroom, arbitration and mediation experience and an in-depth understanding of elder abuse, exploitation and securities law, our firm provides all of our clients with the personal service they deserve. Handling cases worth $25,000 or more, we represent clients throughout Florida and across the United States, as well as for foreign individuals that invested in U.S. banks or brokerage firms. Contact us to arrange your free initial consultation.

At the Boca Raton Law Office of Russell L. Forkey, we represent clients throughout South and Central Florida, including Fort Lauderdale, West Palm Beach, Boca Raton, Sunrise, Plantation, Coral Springs, Deerfield Beach, Pompano Beach, Delray, Boynton Beach, Hollywood, Lake Worth, Royal Palm Beach, Manalapan, Jupiter, Gulf Stream, Wellington, Fort Pierce, Stuart, Palm City, Jupiter, Miami, Orlando, Maitland, Winter Park, Altamonte Springs, Lake Mary, Heathrow, Melbourne, Palm Bay, Cocoa Beach, Vero Beach, Daytona Beach, Deland, New Smyrna Beach, Ormand Beach, Broward County, Palm Beach County, Dade County, Orange County, Seminole County, Martin County, Brevard County, Indian River County, Volusia County and Monroe County, Florida. The law office of Russell L. Forkey also represents South American, Canadian and other foreign residents that do business with U.S. financial institutions, investment advisors, brokerage and precious metal firms.

Leveraged - Inverse Mutual Funds - Risk vs. Rewards - Boca Raton, Florida FINRA Arbitration Attorney

Leveraged - Inverse Mutual Funds - Risk vs. Rewards - Boca Raton, Florida FINRA Arbitration Attorney:

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 an enforcement action, firms and licensed individuals have the responsibility to reflect such action on 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 FINRA site generally in alphabetical order. This post relates to the following company or individuals. If the reader would like to review the entire FINRA release or the broker-check information concerning this matter, you can follow these highlighted links:

August 2015 Disciplinary and Other FINRA Actions:

http://www.finra.org/sites/default/files/publication_file/August_2015_Disciplinary_Actions.pdf

Broker Check: http://www.finra.org/Investors/ToolsCalculators/BrokerCheck/ /

Gregory Howard Bray (CRD #2673259, St. Louis, Missouri) submitted an AWC in which he was fined $7,500 and suspended from association with any FINRA member in any principal capacity for six weeks. Without admitting or denying the findings, Bray consented to the sanctions and to the entry of findings that he failed to adequately supervise a registered principal, who was the member firm's CEO and CCO, in connection with the principal's sales of certain complex products and recommendations of Class A mutual fund shares. The findings stated that Bray failed to ensure that the principal understood the complex products he sold to customers. Bray himself was not familiar with the risks associated with some of the complex products and did not have any basis for concluding that the principal understood them or that the principal's recommendations were suitable. Bray's supervision also was inadequate with respect to the principal's unsuitable recommendations of Class A shares of leveraged/inverse mutual funds, and he failed to detect the principal's short-term trading of the Class A shares.

The suspension was in effect from July 6, 2015, through August 16, 2015. (FINRA Case #2013035045901).

Contact Us:

With extensive courtroom, arbitration and mediation experience and an in-depth understanding of elder abuse, exploitation and securities law, our firm provides all of our clients with the personal service they deserve. Handling cases worth $25,000 or more, we represent clients throughout Florida and across the United States, as well as for foreign individuals that invested in U.S. banks or brokerage firms. Contact us to arrange your free initial consultation.

At the Boca Raton Law Office of Russell L. Forkey, we represent clients throughout South and Central Florida, including Fort Lauderdale, West Palm Beach, Boca Raton, Sunrise, Plantation, Coral Springs, Deerfield Beach, Pompano Beach, Delray, Boynton Beach, Hollywood, Lake Worth, Royal Palm Beach, Manalapan, Jupiter, Gulf Stream, Wellington, Fort Pierce, Stuart, Palm City, Jupiter, Miami, Orlando, Maitland, Winter Park, Altamonte Springs, Lake Mary, Heathrow, Melbourne, Palm Bay, Cocoa Beach, Vero Beach, Daytona Beach, Deland, New Smyrna Beach, Ormand Beach, Broward County, Palm Beach County, Dade County, Orange County, Seminole County, Martin County, Brevard County, Indian River County, Volusia County and Monroe County, Florida. The law office of Russell L. Forkey also represents South American, Canadian and other foreign residents that do business with U.S. financial institutions, investment advisors, brokerage and precious metal firms.

Garyn Ian Angel - Boca Raton, Florida FINRA Prohibited Private Securities Transaction

Garyn Ian Angel - Boca Raton, Florida FINRA Prohibited Private Securities Transaction Arbitration and Litigation Attorney:

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 an enforcement action, firms and licensed individuals have the responsibility to reflect such action on 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 FINRA site generally in alphabetical order. This post relates to the following company or individuals. If the reader would like to review the entire FINRA release or the broker-check information concerning this matter, you can follow these highlighted links:

August 2015 Disciplinary and Other FINRA Actions:

http://www.finra.org/sites/default/files/publication_file/August_2015_Disciplinary_Actions.pdf

Broker Check: http://www.finra.org/Investors/ToolsCalculators/BrokerCheck/

 Garyn Ian Angel (CRD #3172630, Port Richey, Florida) submitted an AWC in which he was assessed a deferred fine of $7,500 and suspended from association with any FINRA member in any capacity for four months. Without admitting or denying the findings, Angel consented to the sanctions and to the entry of findings that he participated in two private securities transactions without providing prior written notice to his member firms.  The findings stated that Angel settled a customer's complaint regarding a customer's investment without notifying his present or his former firms.

 The suspension is in effect from June 15, 2015, through October 14, 2015. (FINRA Case #2014040036901).

Contact Us:

With extensive courtroom, arbitration and mediation experience and an in-depth understanding of elder abuse, exploitation and securities law, our firm provides all of our clients with the personal service they deserve. Handling cases worth $25,000 or more, we represent clients throughout Florida and across the United States, as well as for foreign individuals that invested in U.S. banks or brokerage firms. Contact us to arrange your free initial consultation.

At the Boca Raton Law Office of Russell L. Forkey, we represent clients throughout South and Central Florida, including Fort Lauderdale, West Palm Beach, Boca Raton, Sunrise, Plantation, Coral Springs, Deerfield Beach, Pompano Beach, Delray, Boynton Beach, Hollywood, Lake Worth, Royal Palm Beach, Manalapan, Jupiter, Gulf Stream, Wellington, Fort Pierce, Stuart, Palm City, Jupiter, Miami, Orlando, Maitland, Winter Park, Altamonte Springs, Lake Mary, Heathrow, Melbourne, Palm Bay, Cocoa Beach, Vero Beach, Daytona Beach, Deland, New Smyrna Beach, Ormand Beach, Broward County, Palm Beach County, Dade County, Orange County, Seminole County, Martin County, Brevard County, Indian River County, Volusia County and Monroe County, Florida. The law office of Russell L. Forkey also represents South American, Canadian and other foreign residents that do business with U.S. financial institutions, investment advisors, brokerage and precious metal firms.

Tribal Capital Markets, LLC. a/k/a Blue Capital Securities, Inc. - CMO Risk Disclosure - Boca Raton, Florida FINRA Arbitration Attorney

Tribal Capital Markets, LLC. a/k/a Blue Capital Securities, Inc. - CMO Risk Disclosure - Boca Raton, Florida FINRA Arbitration Attorney:

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 an enforcement action, firms and licensed individuals have the responsibility to reflect such action on 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 FINRA site generally in alphabetical order. This post relates to the following company or individuals. If the reader would like to review the entire FINRA release or the broker-check information concerning this matter, you can follow these highlighted links:

August 2015 Disciplinary and Other FINRA Actions:

http://www.finra.org/sites/default/files/publication_file/August_2015_Disciplinary_Actions.pdf

Broker Check: http://www.finra.org/Investors/ToolsCalculators/BrokerCheck/

Tribal Capital Markets, LLC aka Blue Capital Securities, Inc. (CRD #38901, New York, New York) submitted an AWC in which the firm was censured and fined $50,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that in connection with selling collateralized mortgage obligations (CMOs), it provided marketing materials for a proposed CMO transaction to customers that failed to adequately disclose and present a balanced discussion of certain risks involved in the transaction. The findings stated that the firm failed to provide required CMO educational materials prior to its sales of CMOs to retail customers. The findings also stated that the firm violated books and records rules in connection with its mortgage-backed securities (MBS) and CMO business, in that its order memoranda transactions were incomplete or contained inaccuracies. Order tickets failed to identify the registered representative who entered the order, contained inaccurate order execution times, and were marked as unsolicited when that was not the case. The findings also included that the firm violated FINRA's TRACE rules in connection with its MBS and CMO business. The firm failed to report transactions, failed to report transactions within 15 minutes of the execution time, and failed to accurately report times of order receipt, order entry and order execution for transactions in TRACE-eligible securitized products to TRACE.  To review the complete release, please follow the above link.

Contact Us:

With extensive courtroom, arbitration and mediation experience and an in-depth understanding of elder abuse, exploitation and securities law, our firm provides all of our clients with the personal service they deserve. Handling cases worth $25,000 or more, we represent clients throughout Florida and across the United States, as well as for foreign individuals that invested in U.S. banks or brokerage firms. Contact us to arrange your free initial consultation.

At the Boca Raton Law Office of Russell L. Forkey, we represent clients throughout South and Central Florida, including Fort Lauderdale, West Palm Beach, Boca Raton, Sunrise, Plantation, Coral Springs, Deerfield Beach, Pompano Beach, Delray, Boynton Beach, Hollywood, Lake Worth, Royal Palm Beach, Manalapan, Jupiter, Gulf Stream, Wellington, Fort Pierce, Stuart, Palm City, Jupiter, Miami, Orlando, Maitland, Winter Park, Altamonte Springs, Lake Mary, Heathrow, Melbourne, Palm Bay, Cocoa Beach, Vero Beach, Daytona Beach, Deland, New Smyrna Beach, Ormand Beach, Broward County, Palm Beach County, Dade County, Orange County, Seminole County, Martin County, Brevard County, Indian River County, Volusia County and Monroe County, Florida. The law office of Russell L. Forkey also represents South American, Canadian and other foreign residents that do business with U.S. financial institutions, investment advisors, brokerage and precious metal firms.

Boca Raton, Florida - Elder Financial Abuse FINRA Arbitration and Litigation Attorney

Boca Raton, Florida - Elder Financial Abuse FINRA Arbitration and Litigation Attorney:

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 an enforcement action, firms and licensed individuals have the responsibility to reflect such action on 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 FINRA site generally in alphabetical order. This post relates to the following company or individuals. If the reader would like to review the entire FINRA release or the broker-check information concerning this matter, you can follow these highlighted links:

February 2015 Disciplinary and Other FINRA Actions:

http://www.finra.org/sites/default/files/02_February_Disiplinary%20Actions_15.pdf

Broker Check: http://www.finra.org/Investors/ToolsCalculators/BrokerCheck/

Daryl Richard Lemon (CRD #2473133, Los Angeles, California) submitted an AWC in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Lemon consented to the sanction and to the entry of findings that he executed 1,236 transactions in an elderly customer's discount brokerage account maintained at another broker-dealer without providing prior written notice, or any notice at all, to his member firm. The findings stated that Lemon periodically charged the customer amounts that he characterized as "advisory fees." (FINRA Case #2013036632201).

Contact Us:

With extensive courtroom, arbitration and mediation experience and an in-depth understanding of elder abuse, exploitation and securities law, our firm provides all of our clients with the personal service they deserve. Handling cases worth $25,000 or more, we represent clients throughout Florida and across the United States, as well as for foreign individuals that invested in U.S. banks or brokerage firms. Contact us to arrange your free initial consultation.

At the Boca Raton Law Office of Russell L. Forkey, we represent clients throughout South and Central Florida, including Fort Lauderdale, West Palm Beach, Boca Raton, Sunrise, Plantation, Coral Springs, Deerfield Beach, Pompano Beach, Delray, Boynton Beach, Hollywood, Lake Worth, Royal Palm Beach, Manalapan, Jupiter, Gulf Stream, Wellington, Fort Pierce, Stuart, Palm City, Jupiter, Miami, Orlando, Maitland, Winter Park, Altamonte Springs, Lake Mary, Heathrow, Melbourne, Palm Bay, Cocoa Beach, Vero Beach, Daytona Beach, Deland, New Smyrna Beach, Ormand Beach, Broward County, Palm Beach County, Dade County, Orange County, Seminole County, Martin County, Brevard County, Indian River County, Volusia County and Monroe County, Florida. The law office of Russell L. Forkey also represents South American, Canadian and other foreign residents that do business with U.S. financial institutions, investment advisors, brokerage and precious metal firms.

Unauthorized Trading and Unauthorized Discretion Boca Raton, Florida, FINRA Arbitration Attorney

Unauthorized Trading and Unauthorized Discretion Boca Raton, Florida, FINRA Arbitration Attorney:

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 an enforcement action, firms and licensed individuals have the responsibility to reflect such action on 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 FINRA site generally in alphabetical order. This post relates to the following company or individuals. If the reader would like to review the entire FINRA release or the broker-check information concerning this matter, you can follow these highlighted links:

February 2015 Disciplinary and Other FINRA Actions:

http://www.finra.org/sites/default/files/02_February_Disiplinary%20Actions_15.pdf

Broker Check: http://www.finra.org/Investors/ToolsCalculators/BrokerCheck/

Philip Taylor Lang (CRD #3006186, Jackson, Mississippi) submitted an AWC in which he was assessed a deferred fine of $20,000 and suspended from association with any FINRA member in any capacity for nine months. Without admitting or denying the findings, Lang consented to the sanctions and to the entry of findings that he executed discretionary trades in five accounts belonging to his family member without obtaining the family member's prior written authorization and without having his member firm's acceptance of the accounts as discretionary accounts. The findings stated that Lang failed to complete or submit any discretionary account disclosure forms for his family member's accounts, as required by his firm's WSPs. Lang completed and submitted annual employee certification forms with inaccurate answers regarding whether he handled any customer accounts on a discretionary basis that had not been previously reported to the firm. The findings also stated that Lang made unsuitable investment recommendations in four of the accounts. Unbeknownst to his family member, Lang changed the investment objective for each account and began speculative trading in the accounts on a discretionary basis.  Lang's speculative trading activity was inconsistent with the family member's investment objectives, financial situation and needs. Lang, by misstating the investment objectives, caused his firm to maintain inaccurate books and records.

The suspension is in effect from January 5, 2015, through October 4, 2015. (FINRA Case#2012033887601).

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