Active Investigations

December 14, 2023 – Baron was named a respondent in a FINRA complaint alleging that he made material misrepresentations to a married senior couple in connection with his recommendation of a company’s stock. The complaint alleges Baron failed to disclose to the couple that he was a consultant for the company and had a financial stake in their investment as a result of his agreement with it. Later, Baron made …

December 7, 2023 – Blankenship was named a respondent in a FINRA complaint alleging that he engaged in unsuitable short-term trading of mutual funds by effecting trades in customer accounts that lacked a reasonable basis. The complaint alleges that the holding periods for these trades ranged from 119 to 364 days. Those transactions resulted in sales charges of $21,158.45 paid by the customers and generated commissions of $16,014.16 for Blankenship. …

December 19, 2023 – An AWC was issued in which Henao was assessed a deferred fine of $7,500 and suspended from association with any FINRA member in all capacities for 45 days. Without admitting or denying the findings, Henao consented to the sanctions and to the entry of findings that he exercised discretion without written authorization in a customer’s account by initiating a substantial short position in a volatile exchange-traded …

December 19, 2023 – An AWC was issued in which Cirelli was fined $5,000 and suspended from association with any FINRA member in all capacities for one month. Without admitting or denying the findings, Cirelli consented to the sanctions and to the entry of findings that he placed unauthorized trades in a deceased customer’s account. The findings stated that prior to learning about the customers death, Cirelli caused trades to …

December 7, 2023 – An AWC was issued in which McQuaide was suspended from association with any FINRA member in all capacities for six months. In light of McQuaide’s financial status, no monetary sanction has been imposed. Without admitting or denying the findings, McQuaide consented to the sanction and to the entry of findings that he engaged in excessive and quantitatively unsuitable trading in the accounts of two senior customers. …

December 5, 2023 – An AWC was issued in which Mierzycki was fined $10,000 and suspended from association with any FINRA member in all capacities for four months. Without admitting or denying the findings, Mierzycki consented to the sanctions and to the entry of findings that he exercised discretionary trading authority to effect trades in numerous customer accounts without first obtaining the prior written authorization of the customers and without …

December 15, 2023 – An AWC was issued in which Petrone was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Petrone consented to the sanction and to the entry of findings that he refused to provide documents and information requested by FINRA related to, among other issues, his trading in an elderly customer’s accounts and potential misappropriation from that customer. (FINRA Case …

December 14, 2023 – An AWC was issued in which Kubiak was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Kubiak consented to the sanction and to the entry of findings that he refused to provide documents and information requested by FINRA in connection with its investigation into his potential involvement with undisclosed OBAs, including those potentially related to crypto assets. The …

November 30, 2023 – An AWC was issued in which Kumar was assessed a deferred fine of $10,000, suspended from association with any FINRA member in all capacities for 12 months, and ordered to pay $50,103.43, plus interest, in deferred restitution to customers. Without admitting or denying the findings, Kumar consented to the sanctions and to the entry of findings that he willfully violated Reg BI by recommending customers exchange …

November 28, 2023 – An AWC was issued in which Weaver was assessed a deferred fine of $10,000 and suspended from association with any FINRA member in all capacities for 24 months. Without admitting or denying the findings, Weaver consented to the sanctions and to the entry of findings that he engaged in an OBA as an owner and CFO of a company that engaged in e-commerce and lead generation …

November 28, 2023 – An AWC was issued in which Prukner was assessed a deferred fine of $10,000 and suspended from association with any FINRA member in all capacities for 24 months. Without admitting or denying the findings, Prukner consented to the sanctions and to the entry of findings that he engaged in an OBA as an owner and co-CEO of a company that engaged in e-commerce and lead generation …

November 28, 2023 – An AWC was issued in which Fruge was assessed a deferred fine of $10,000 and suspended from association with any FINRA member in all capacities for 24 months. Without admitting or denying the findings, Fruge consented to the sanctions and to the entry of findings that he engaged in an OBA as an owner and co-CEO of a company that engaged in e-commerce and lead generation …