Securities Law Related Blogs

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Matthew Sanders (Sanders), currently associated with Vanguard Marketing Corporation, has at least one disclosable event. These events include one customer complaint, alleging that Sanders recommended unsuitable investments in different investment products including debt securities among other allegations and complaints. FINRA BrokerCheck shows a settled customer complaint on March 28, 2025. The client alleged that the advisor sold shares of a security without her approval, which caused a large capital gains tax to be realized. Activity date was December 24, 2024. Continue Reading

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Brian Culver (Culver), currently associated with Cambridge Investment Research, INC., has at least one disclosable event. These events include one customer complaint, alleging that Culver recommended unsuitable investments in different investment products including debt securities among other allegations and complaints. FINRA BrokerCheck shows a settled customer complaint on March 31, 2025. Client alleges RR reallocated the annuity without notice, authorization or consultation. Continue Reading

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jeremy Benson (Benson), previously associated with Nylife Securities LLC, has at least one disclosable event. These events include one customer complaint, alleging that Benson recommended unsuitable investments in different investment products including debt securities among other allegations and complaints. FINRA BrokerCheck shows a pending customer complaint with a damage request of $65,000.00 on March 31, 2025. Customers allege that the former RR failed to repay loans in the amount of $40,000 and $25,000 borrowed in September 2022. Continue Reading

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Roger Nelson (Nelson), currently associated with Wells Fargo Clearing Services, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Nelson recommended unsuitable investments in different investment products including debt securities among other allegations and complaints. FINRA BrokerCheck shows a pending customer complaint on March 31, 2025. The client complains that the Financial Advisor did not explain that their investment in a Market Linked Certificate of Deposit could fluctuate in value prior to maturity date. (2/27/25-3/31/25) Continue Reading

The attorneys at Gana Weinstein LLP are investigating BrokerCheck records reports that Broker Joseph Barnas (Barnas), currently employed by Osaic Wealth, INC. has been subject to at least one disclosable event. These events include one customer complaint. According to records kept by The Financial Industry Regulatory Authority (FINRA), Barnas’s most recent customer complaint alleges that Barnas recommended unsuitable investments in structured products and makes allegations concerning misconduct relating to the handling of the customer’s accounts. FINRA BrokerCheck shows a pending customer complaint with a damage request of $80,000.00 on March 26, 2025. The Claimants allege that RR recommended unsuitable structured note investments Continue Reading

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Eric Kubiak (Kubiak), previously associated with Ameriprise Financial Services, LLC, has at least 2 disclosable events. These events include one customer complaint, one regulatory event, alleging that Kubiak recommended unsuitable investments in different investment products including debt securities among other allegations and complaints. FINRA BrokerCheck shows a pending customer complaint with a damage request of $6,075,978.00 on March 28, 2025. Claimant alleges she was recommended unsuitable annuities, insurance products and Illiquid real estate investments. Continue Reading

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Daniel Polansky (Polansky), currently associated with Osaic Wealth, INC., has at least one disclosable event. These events include one customer complaint, alleging that Polansky recommended unsuitable investments in different investment products including debt securities among other allegations and complaints. FINRA BrokerCheck shows a pending customer complaint with a damage request of $5,000.00 on March 27, 2025. Customers allege financial professional mismanaged portfolio causing a substantial reduction in its value. Customer further alleges that financial professional failed to follow trading instructions, charged excessive advisory fees, and made poor recommendations in various products, including collateralized non-purpose loans and treasuries. Continue Reading

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jeffery Steely (Steely), currently associated with Packerland Brokerage Services, INC., has at least one disclosable event. These events include one customer complaint, alleging that Steely recommended unsuitable investments in different investment products including debt securities among other allegations and complaints. FINRA BrokerCheck shows a pending customer complaint with a damage request of $13,280.12 on March 26, 2025. The customer is alleging the Prudential Fixed Indexed Annuity product with 10% bonus that he purchased in September 2024 was not explained in full by the Representative. After working with client and determining the clients financial needs, the Representative is stating this product was sold in the best interest of the client for what product options were available to the Representative at that time. The customer is looking for Prudential to refund the…

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Jose Fuentes Rodriguez (Fuentes Rodriguez), currently associated with Popular Securities, LLC, has at least one disclosable event. These events include one customer complaint, alleging that Fuentes Rodriguez recommended unsuitable investments in different investment products including debt securities among other allegations and complaints. FINRA BrokerCheck shows a pending customer complaint with a damage request of $100,000.00 on March 26, 2025. Claimant alleges that Financial Consultant made recommendations to purchase and to hold P.R. Closed-end funds and P.R. Bonds, resulting in an over concentrated and high risk portfolio, which was unsuitable in light of the client’s stated risk tolerance and investment objective. Continue Reading

According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Paul Murans (Murans), currently associated with Thurston Springer Financial, has at least one disclosable event. These events include one customer complaint, alleging that Murans recommended unsuitable investments in different investment products including debt securities among other allegations and complaints. FINRA BrokerCheck shows a pending customer complaint on March 31, 2025. Brokers are required to adhere to the SEC’s Regulation Best Interest (Reg BI) standard of care under the Securities Exchange Act of 1934 which establishes a ‘best interest’ standard for broker-dealers and associated persons. This standard applies when a registered representative is providing investment advice through making recommendations customers and covers securities transaction, investment strategies, and recommendations concerning advice on opening of an account or accounts. …

QT Imaging Holdings (QTIH) Delisted from Nasdaq – Investor Alert The White Law Group is investigating potential securities claims involving QT Imaging Holdings, Inc. (OTC: QTIH), a medical device company that was recently delisted from the Nasdaq Stock Market. On January 28, 2025, QT Imaging’s common stock was officially suspended from Nasdaq trading and began trading over-the-counter (OTC) under the symbol QTIH. This action follows a series of non-compliance notices from Nasdaq regarding the company’s failure to meet continued listing requirements. Timeline of Non-Compliance: May 10, 2024: Nasdaq notified the company that its Market Value of Listed Securities (MVLS) had fallen below the required $50 million threshold. June 17, 2024: QT Imaging was cited for failing to meet the minimum bid price requirement. September 10, 2024: Nasdaq determined the company did not comply…

There have been numerous news reports about the discovery of an original Magna Carta at the Harvard Law School Library, including this article in Harvard Magazine.  According to these reports, a document previously categorized as a “copy” of the famous charter has recently been determined to be the seventh known original of King Edward I’s 1300 Magna Carta. Over the years, I have published several posts about Magna Carta, including Section 11 Class Actions And The Magna Carta, Magna Carta Friday - King John Guarantees The Freedom Of The English Church, Simple Majority Voting And The Magna Carta, Non-Disparagement, The Magna Carta And Yelp, It's Magna Carta Friday!, You Might Be Surprised By These Words In Magna Carta, andWhy The Wall Street Journal Is Wrong About The Magna Carta.   I do have two cavils regarding Harvard Magazine’s article.  The article asserts: A group of rebellious barons forced King John to sign it,…

FINRA Releases 2024 Dispute Resolution Statistics: Case Filings Down, Settlements Still the Norm The Financial Industry Regulatory Authority (FINRA) has published its year-end statistics for 2024 arbitration and mediation cases. The latest data show a sharp decline in new arbitration filings, while the majority of cases continued to resolve through settlement. FINRA Case Filings See Notable Drop In 2024, 2,469 arbitration cases were filed with FINRA—a 27% drop from 2023, which saw 3,382 cases filed, and down from 2,671 in 2022. Despite fewer filings, FINRA closed 3,108 cases in 2024, reflecting strong throughput and possibly clearing of backlogged disputes. Most Cases Still Settle In terms of resolution outcomes for customer cases: 56% settled before reaching a hearing, 31% resulted in an award after a hearing, The remainder were withdrawn, dismissed, or closed via other means. Mediation continues to be a highly…

The Securities and Exchange Commission announced today that it will host a roundtable on June 26, 2025, to discuss executive compensation disclosure requirements. SEC Chairman Paul S. Atkins issued a statement today regarding the roundtable, including…More information at SECLaw.com Read the Full Press Release Have a securities law question? Call New York Securities Lawyers at 212-509-6544.

On 15 May 2025, the European Central Bank (ECB) announced that the amendment to the TARGET Guideline, which would allow non-bank payment service providers (non-bank PSPs) to participate in TARGET is postponed. The amendment to the TARGET Guideline was outlined in ECB Decision ECB/2025/2 and is now expected to enter into force in October 2025. The Eurosystem considers this postponement necessary to avoid legal risks concerning the eligibility of non-bank PSPs to access TARGET, including T2 (for settling payments) and TARGET Instant Payment Settlement System (for settling instant retail payments).

On 14 May 2025, the European Parliament’s Economic and Monetary Affairs Committee published a draft report on the impact of artificial intelligence (AI) on the financial sector. The report examines the use and impact of AI in the EU’s financial services sector and the regulatory landscape. The Rapporteur provides policy recommendations to enable the use of AI in financial services and clarify regulatory overlaps. The report also calls on the European Commission to ensure clarity and guidance on how existing financial services regulations apply to the use of AI in financial services.

On 16 May 2025, the European Banking Authority (EBA) repealed its guidelines on specification of types of exposures to be associated with high risk. The EBA has repealed these guidelines on the basis that they are no longer needed. The guidelines were originally mandated by Article 128 of the Capital Requirements Regulation (CRR) and clarified which exposures should be considered as ‘high risk exposures’. However, the CRR 3 removed this exposure class with Article 128 now only referring to ‘subordinated debt exposures’.

The Bank Resolution (Recapitalisation) Act 2025 has been published on legislation.gov.uk together. The Act seeks to enhance the UK’s regime for managing bank failures, termed resolution. Specifically, it would introduce a mechanism which would allow the Bank of England—the UK’s resolution authority—to recover the costs associated with recapitalising failing small banks through a levy on the banking sector. Sections 1 to 7 of the Act come into force on such day as the Treasury may by regulations appoint.

The Financial Conduct Authority (FCA) has published the Financial Lives 2024 survey. Key findings from the survey include: 13.1 million had low financial resilience in May 2024 (24% of all UK adults): not statistically different from May 2022 (24%, 12.9m). 26.4 million had characteristics of vulnerability in May 2024 (49% of all UK adults): a decrease of 0.9 million since May 2022 (52%, 27.3m). That one in ten people have no cash savings at all. Of the 1.7 million people who had used a debt advice or debt management service in the previous 12 months, 61% said their debts were more manageable as a result. There are more people banking online or with a mobile app – 1.2 million adults were digitally excluded, a dramatic improvement from 6.9 million in 2017. 61% of people with more than £10,000 in investible assets held at least three-quarters of these assets in cash, rather than investments. The FCA wants to see more people holding mainstream…

Jean-Pierre Gobic Allegedly Made Misrepresentations The White Law Group is currently investigating potential FINRA arbitration lawsuits involving Jean-Pierre Gobic ( CRD#: 4380699), a financial advisor with Morgan Stanley in Sarasota, FL. Customer Complaints: Jean-Pierre Gobic According to his FINRA BrokerCheck record, Jean-Pierre Gobic has a recent customer complaint filed against him. “Claimants alleges violations of Reg BI and Misrepresentation with respect to alternative investment strategy – 2021 to 2023.” The complaint is currently pending. Gobic reportedly has two other complaints filed against him in 2008 for allegations involving auction rate securities. Both were reportedly settled. What is an Alternative Investment?  An alternative investment is considered any investment that doesn’t fall within the traditional stocks and bonds category. Most alternative investments have fewer regulations from the Securities and Exchange…