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Recent News

Report – 8/18/17

August 18, 2017

1 – CNBC reported on 8/16/17 that while D.C. deregulates, the states are stepping in as Wall Street watchdogs. For example, the Massachusetts state securities regulator announced a recent investigation into how top U.S. brokerage firms handle customer buy and sell orders and whether customers are getting the best prices for their trades. 2 –…

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Report – 8/11/17

August 11, 2017

1 – On Wednesday, August 9, 2017, the Department of Labor (DOL) sought an 18 month delay for implementing the final part of its fiduciary.  Many observe that this delay is certainly beneficial to the industry stake holders at the expense of individual investors. The rule actually went into effect on June 9, 2017, but…

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Report – 8/4/17

August 4, 2017

1 – The North American Securities Administrators Association (NASAA), an association of state securities regulators, released a 23-page report of a broker-dealer survey conducted in 2016 focusing on senior investors.  The report was released in mid-June 2017 and it included data from 60 broker-dealer firms relating to the supervision of seniors’ accounts and escalation of…

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Report – 7/21/17

July 21, 2017

1 – Gary Kenneth Rasmussen is registered with J.W. Cole Financial, and previously registered with Financial Advisors of America.  Rasmussen is believed to have been the subject of one or more customer complaints related to alleged recommendations of unsuitable investment products.  See: FINRA brokercheck.  If you are an investor who has suffered losses with Rasmussen,…

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Report – 7/14/17

July 14, 2017

1 – Dion Padilla was registered with NEXT Financial Group, LLC and Padilla is believed to have been the subject of a FINRA regulatory action based on allegations relating to variable annuity transactions that may have included misrepresentations and/or unauthorized transactions.  See: FINRA brokercheck.  If you are an investor who has suffered losses with Padilla…

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Report – 7/07/17

July 7, 2017

1 – Thomas Oliphant was registered with LPL Financial and conducted business under the name of One Advocate Group and Grand Purpose Advocate.  Oliphant is believed to have been involved with outside business activities and was discharged and terminated by LPL Financial and also had at least one prior customer complaint disclosure on his record.…

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