Report – Feb 5-11, 2017

  1. David Fagenson of Boca Raton, Florida is registered with Newbridge Securities Corp. and was previously registered with UBS (2010-2016) and Merrill Lynch (2002-2010).  Fagenson was involved in a customer-initiated FINRA arbitration case alleging unauthorized trading (the matter remains pending).  FINRA Brokercheck.
  2. Wendy Feldman is currently registered with H. Beck, Inc.  Feldman was involved in a customer initiated FINRA arbitration claim alleging unsuitable recommendations and unauthorized trading (among other allegations).  Feldman was previously employed by Morgan Stanley.  FINRA Brokercheck.
  3. Christopher Bond is registered with National Securities Corporation and he was involved in a customer initiated FINRA arbitration case involving claims alleging unsuitable recommendations and unauthorized trading.  See FINRA Brokercheck.
  4. Mark Schklar of New Woodstock, New York was previously registered with Ridgeway & Conger, Inc. (2015-2016) and BB&T Securities LLC (2012-2015).  It is believed that he may have had disciplinary issues involving private securities transactions, borrowing or lending activities as well as customer initiated FINRA claims related to these and other allegations.  FINRA Brokercheck.
  5. InvestmentNews reported that rogue brokers still pose a danger to investors.  See: www.investmentnews.com/article/20170206/free/170209953/rogue-brokers-still-pose-a-danger-to-investors.  Despite FINRA placing the monitoring of such brokers at the top of its priorities in its annual regulatory examination priorities letter and creating a dedicated team to track such brokers, countless hundreds are still employed in the securities industry.  Specifically referenced in the article is David Fagenson of Boca Raton, Florida, who after being terminated by UBS is now apparently registered with Newbridge Securities Corporation.  The article goes on to describe Newbridge Securities Corporation (based in Boca Raton, Florida) as having had a history of employing problem brokers.  Firms can hire whom they want to hire, it’s a business decision reports InvestmentNews, which goes on to question how Fagenson can so quickly join a new firm (with FINRA’s approval) just a few months after being terminated, especially considering FINRA’s recently touting efforts to watch high risk brokers in an effort to shield investors from harm.
  6. Brett Murphy has been registered with Oppenheimer & Co. since March 2015 and was previously registered with Revere Securities, LLC.  Murphy was allegedly involved in one or more customer-initiated FINRA arbitration cases alleging unsuitable recommendations and unauthorized trading (including issues relating to Unit Investment Trusts or UITs.  FINRA Brokercheck.
  7. Barry Connell was registered with Morgan Stanley (2009-2016).  He was allegedly involved in issues involving unauthorized trading and misrepresentation while employed by Morgan Stanley, before being discharged in November 2016.  He was also recently charged by the SEC in a matter that alleges a theft of $5 million.  FINRA Brokercheck.
  8. Daniel Kiefer was previously registered with JP Turner & Co. (2003-2015) and also previously registered with Summit Brokerage in the Colts Neck, NJ branch.  Kiefer was allegedly involved in one or more customer-initiated FINRA arbitration cases alleging breach of fiduciary duty and unauthorized trading.  FINRA Brokercheck.
  9. Charles Fischer of Eugene, Oregon was previously registered with IMS Securities, Inc. since 2003.  Fischer was allegedly involved in one or more customer-initiated FINRA arbitration cases alleging unsuitable recommendations, misrepresentation, and negligence (among other claims) (including issues relating to Alternative Investments and Non-traded Real Estate Investment Trusts or REITs.)  FINRA Brokercheck.