Active Investigations

An AWC was issued in which Matthew James Mangini (CRD #6527545) was assessed a deferred fine of $10,000 and suspended from association with any FINRA member in all capacities for six months. Without admitting or denying the findings, Mangini consented to the sanctions and to the entry of findings that he participated in unapproved private securities transactions.

The findings stated that Mangini, in his capacity as an investment …

An AWC was issued in which Todd Ray Anderson (CRD #1896352) was fined $5,000, suspended from association with any FINRA member in all capacities for 45 days, and ordered to pay $20,867, plus interest, in restitution to a customer.

Without admitting or denying the findings, Todd Ray Anderson consented to the sanctions and to the entry of findings that he recommended that a senior customer purchase over $1 …

Jason Lynn DiPaola (CRD #2648836) appealed a NAC decision to the SEC. DiPaola was fined a total of $40,000 and suspended from association with any FINRA member in all capacities for four years. The NAC affirmed the findings and modified the sanctions imposed by the OHO. The sanctions were based on the findings that DiPaola failed to disclose an outside account in which he exercised discretionary trading authority, …

An AWC was issued in which Steven M. Netzel (CRD #2863170) was assessed a deferred fine of $10,000, suspended from association with any FINRA member in all capacities for four months, and ordered to pay $9,788.80, plus interest, in deferred partial restitution to customers. The amount of partial restitution is equal to the portion of the commissions received by Netzel for alternative investment purchases by two customers. Some …

An AWC was issued in which Michael Patrick Raineri (CRD #4817558) was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Raineri consented to the sanction and to the entry of findings that he converted
customer funds.

The findings stated that at the request of one of his customers, Michael Patrick Raineribegan paying some personal expenses for the customer. Over time, …

An AWC was issued in which Stephenie Ashley Collins (CRD #5903192) was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Collins consented to the sanction and to the entry of findings that she converted customer premium payments for her personal use and benefit.

The findings stated that pursuant to the requirements of her member firm’s insurance affiliate, Stephenie Ashley Collins …

An AWC was issued in which William Forrest Winchester III (CRD #4404327) was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Winchester consented to the sanction and to the entry of findings that he borrowed more than $850,000 from his customers without notifying his member firms or obtaining their prior written approval.

The findings stated that Winchester never disclosed to …

An AWC was issued in which Dana H. Davis (CRD #1707708) was suspended from association with any FINRA member in all capacities for 12 months and ordered to pay $75,000 in deferred partial restitution to customers. In light of Davis’ financial status, no monetary fine has been imposed. Without admitting or denying the findings, Davis consented to the sanctions and to the entry of findings that he recommended …

An AWC was issued in which Derek John Rehill (CRD #2935032) was suspended from association with any FINRA member in all capacities for two months. In light of Rehill’s financial status, no monetary sanction has been imposed. Without admitting or denying the findings, Rehill consented to the sanction and to the entry of findings that he prepared inaccurate customer contact notes reflecting telephone calls with customers.

The findings …

An AWC was issued in which Gary Mark Goldberg (CRD #223919) was assessed a deferred fine of $25,000, suspended from association with any FINRA member in all capacities for 18 months, and ordered to pay $594,590, plus interest, in deferred restitution to customers. Without admitting or denying the findings, Goldberg consented to the sanctions and to the entry of findings that he made unsuitable recommendations concerning purchases of …

An AWC was issued in which Kevin Andrew Hobbs (CRD #4267482) was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Hobbs consented to the sanction and to the entry of findings that he provided an inaccurate response to FINRA’s request for documents and information in connection with its investigation of allegations that he traded away from his member firm in …

Michael Ciro Colletti (CRD #4577898) was named a respondent in a FINRA complaint alleging that he placed trades with total principal value of approximately $157,231 in an elderly customer’s account without the customer’s prior authorization.

The complaint alleges that the customer was an unsophisticated investor and outside of Michael Ciro Colletti’s excessive trading of his account, the customer mainly bought and held mutual funds and stocks of well-established …