Brett McCullough barred by FINRA.
Brett McCullough, a registered representative from Baton Rouge, LA formerly with Hancock Investment Services of Baton Rouge was suspended from FINRA membership for violations of Rule 9552
MML borker Tony Jung barred.
Tony Jung, a registered representative from Fort Lee, NJ formerly with MML Investors Services of Springfield, MA was suspended from FINRA membership for violations of Rule 9552
Adam Carrol suspended.
Adam Carrol, a registered representative from Oswego, IL formerly with MetLife Securities of Downer’s Grove, IL was suspended from FINRA membership for violations of Rule 9552
FINRA suspends Louis Kittlaus.
In December, 2015, the Financial Industry Regulatory Authority (“FINRA”) announced that Louis Kittlaus of Naples, FL formerly with Wall Street Strategies of Chicago, IL was suspended from association with any FINRA member in any capacity for two years and fined $25,000. The FINRA complaint alleged that Kittlaus disseminated false and exaggerated information concerning renewable secured debentures which contained unwarranted price projections without providing a basis for those projections. FINRA also contended that Kittlaus prepared a letter regarding the investments which failed to disclose risk.
Registration and disciplinary history
FINRA bars Tracy wengert.
In December, 2015, the Financial Industry Regulatory Authority (“FINRA”) announced that Tracy Wengert of Lakeside, AZ formerly with Transamerica Financial and World Group Securities, both of Mesa, AZ submitted an acceptance, waiver and consent letter whereby he was barred from association with any FINRA member in any capacity. The 2015 FINRA complaint alleged that Wengert opened accounts outside his broker dealer and made unsuitable transactions for the customers in these accounts. After FINRA opened its investigation, it asked Wengert to provide inflation in furtherance of the investigation, but Wengert refused to provide documents to FINRA. .
Registration and disciplinary history
Karen Tautges Parisian suspended by FINRA.
In December, 2015, the Financial Industry Regulatory Authority (“FINRA”) announced that Karen Tautges-Parisian of Minnetonka, MN formerly with Ameriprise Financial Services of New Prague, MN submitted an acceptance, waiver and consent letter whereby she was suspended from association with any FINRA member in any capacity for nine months and fined $5,000. The 2014 FINRA complaint alleged that Tautges-Parisian made unsuitable recommendations to a customer to participate in penny stock transactions. FINRA found the transactions represented an overconcentration of the customer’s assets in risky securities, and that the customer was not in a position to bear the loss of such an investment.
Registration and disciplinary history
David Scholl suspended by FINRA.
In December, 2015, the Financial Industry Regulatory Authority (“FINRA”) announced that David Scholl of Caledonia, MI formerly with Planmember Securities of Grand Rapids, MI submitted an acceptance, waiver and consent letter whereby he was suspended from association with any FINRA member in any capacity for three months and fined $5,000. The 2013 FINRA complaint alleged that Scholl participated in an unapproved private securities transaction with Mackinac Realty Group. Scholl did not get permission from his broker dealer prior to assisting a client invest over $240,000 in the venture, under which Scholl received a $7,000 commission. Ultimately Mackinac defaulted on their promissory note to the investor
Registration and disciplinary history
Michael Duch suspended by FINRA.
In December, 2015, the Financial Industry Regulatory Authority (“FINRA”) announced that Michael Duch of Aberdeen, South Dakota with Kovack Securities of Aberdeen, SD submitted an acceptance, waiver and consent letter whereby he was suspended from association with any FINRA member in any capacity for twenty days and fined $15,000. The FINRA complaint alleged that Duch participated in unapproved outside business activities whereby he facilitated an investment into an oil and gas securities transaction, as well as an investment into an unregistered promissory note investment. These private securities transactions were not approved by Duch’s broker dealer.
Registration and disciplinary history
FINRA bars Randy Burke.
In December, 2015, the Financial Industry Regulatory Authority (“FINRA”) announced that Randy Burke of Ferguson, North Carolina formerly with Calton and Associates and Capital Investment Group, both of Hickory, NC submitted an acceptance, waiver and consent letter whereby he was barred from association with any FINRA member in any capacity. The FINRA complaint alleged that Burke participated in an unapproved outside business activity whereby he solicited clients to invest in his business venture known as Lodge Alaska. These private securities transactions were not approved by Burke’s broker dealer. FINRA also found that Burke made material misrepresentations to an elderly purchaser of the Lodge Alaska transaction, and improperly used the funds the client invested in the deal.
Registration and disciplinary history
Maxwell SImon fined by FINRA.
In December, 2015, the Financial Industry Regulatory Authority (“FINRA”) announced that Maxwell Simon of Minneapolis, MN submitted an acceptance, waiver and consent letter regarding its failure to supervise its registered representatives in their sales of unregistered microcap securities. In agreeing to the AWC, the firm was fined $20,000.
FINRA’s allegations against Maxwell Simon concerned micro-cap securities sales. FINRA found that the firm failed to properly investigate the sales, failed to respond to red flags concerning the transactions and failed to establish, maintain and enforce an effective system of reviewing the transactions to ensure that the transactions were in compliance with the securities laws, in particular Rule 144.
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