THOMAS GERALD RECCK BARRED BY FINRA FOR CONVERTING BROKERAGE ACCOUNT FUNDS

Thomas Gerald Recck, a former broker at New York, New York based MetLife Securities, Inc., submitted a Letter of Acceptance, Waiver and Consent in which he consented to the described sanction and to the entry of the Financial Industry Regulatory Authority's findings that he converted funds from an account he serviced for personal use. Mr. Recck was the treasurer of a non-profit organization that maintained an account that he serviced at his firm. Mr. Recck transferred approximately $80,000 from the organization's firm brokerage account to one of the organization's bank accounts. Mr. Recck then converted a total of approximately $140,000 in funds from that bank account and another organization bank account for his personal benefit. FINRA stated that Mr. Recck failed to appear for a FINRA on-the-record interview and indicated that he would not cooperate with FINRA's investigation by providing testimony. Mr. Recck, of Wethersfield, Connecticut, was barred from association with any FINRA member in any capacity.

Broker-dealers must establish and implement a reasonable supervisory system to protect customers from broker misconduct. If broker-dealers do not establish and implement a reasonable supervisory system, they may be liable to investors for damages flowing from the misconduct. Therefore, investors who have suffered damages due to alleged illegal acts such as those alleged against Mr. Recck can bring forth claims to recover losses against broker-dealers like MetLife Securities, which should have prevented Mr. Recck from committing the above described conduct.

Have you suffered losses in your MetLife Securities account due to similar misconduct by your broker? If so, call Robert Pearce at the Law Offices of Robert Wayne Pearce, P.A. for a free consultation. Mr. Pearce is accepting clients with valid claims against MetLife Securities stockbrokers who may have engaged in misconduct and caused investors losses.

The most important of investors' rights is the right to be informed! This Investors' Rights blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida. For over 30 years, Attorney Pearce has tried, arbitrated, and mediated hundreds of disputes involving complex securities, commodities and investment law issues. The lawyers at our law firm are devoted to protecting investors' rights throughout the United States and internationally! Please visit our website, www.secatty.com, post a comment, call (800) 732-2889, or email Mr. Pearce at pearce@rwpearce.com for answers to any of your questions about this blog post and/or any related matter.

MERRILL LYNCH SUBPOENAED BY MASSACHUSETTS REGULATORS OVER SALES OF ALTERNATIVE INVESTMENTS TO SENIORS

Merrill Lynch was subpoenaed by Massachusetts in connection with a sweep investigation, which is looking into sales practices involving alternative investments sold to seniors. Merrill Lynch's principal office is located in New York, New York. On July 10, 2013, the state's securities division sent the subpoena to Merrill Lynch asking for information on sales of the products to state residents who are 65 or over. Some of the non-traditional investments include oil and gas partnerships, private placements, structured products, hedge funds, and tenant-in-common offerings. The state demanded information from Merrill Lynch on any such products that have been sold over the past year, the investors who purchased them, the commissions generated, how the sales were reviewed, and all relevant compliance, training and marketing materials - Merrill Lynch has until July 24 to respond. The state added that being on the list of targeted firms does not indicate wrongdoing.

Although non-traded REITs were not part of the information request, Massachusetts has expressed its heightened concern "that the senior marketplace is being targeted for the sales of these high-risk, esoteric products," Massachusetts Secretary of the Commonwealth William F. Galvin said in a statement. The state has already cracked down on a number of firms for alleged improper sales of non-traded REITs. In February 2013, the state reached a settlement with LPL Financial to pay at least $2 million in restitution and $500,000 in fines related to the sale of non-traded REITs. In May 2013, it settled REIT cases with Ameriprise Financial Services Inc., Commonwealth Financial Network, Lincoln Financial Advisors Corp., Royal Alliance Associates Inc. and Securities America Inc. The five firms agreed to pay a total of $6.1 million in restitution to investors and fines totaling $975,000.

Senior investors have become the targets of unscrupulous brokers, investment advisors and insurance agents. This is due in part to the fact that as we age, our ability to understand newer and complex investments diminishes every year. Therefore, senior retirement savings are ripe for picking and an epidemic of fraud is underway all across America. As a result many states, such as Massachusetts, have enacted laws with harsh penalties and are performing investigative sweeps to protect senior investors.

Broker-dealers have a duty to protect senior investors from broker misconduct by establishing and implementing an adequate supervisory system to oversee sales practices. If broker-dealers do not so, they may be liable to senior investors for damages flowing from an unreasonable recommendation and sale. Are you a senior investor suffering losses in your Merrill Lynch account due to an unreasonable recommendation and sale by your broker? If so, call Robert Pearce at the Law Offices of Robert Wayne Pearce, P.A. for a free consultation. Mr. Pearce is accepting clients with valid claims against Merrill Lynch stockbrokers who may have engaged in misconduct and caused investors losses.

The most important of investors' rights is the right to be informed! This Investors' Rights blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida. For over 30 years, Attorney Pearce has tried, arbitrated, and mediated hundreds of disputes involving complex securities, commodities and investment law issues. The lawyers at our law firm are devoted to protecting investors' rights throughout the United States and internationally! Please visit our website, www.secatty.com, post a comment, call (800) 732-2889, or email Mr. Pearce at pearce@rwpearce.com for answers to any of your questions about this blog post and/or any related matter.

KENNETH PATRICK PETTICOLAS SUSPENDED BY FINRA FOR SELLING AWAY VIATICAL CONTRACTS

Kenneth Patrick Petticolas, a former broker at Cincinnati, Ohio based The O.N. Equity Sales Company, submitted an Offer of Settlement in which he consented to the described sanction and to the entry of the Financial Industry Regulatory Authority's (FINRA) findings that he participated in a private securities transaction sale of a life settlement contract to an investor for approximately $455,925, which was not conducted through his firm. FINRA stated that prior to participating in the sale of the life settlement contract, Mr. Petticolas did not provide any written notice to his firm regarding that transaction. O.N. Equity Sales Company's insurance affiliate prohibited its agents, including Mr. Petticolas, from participating in any kind of viatical or life settlement transaction, except that they were permitted to assist a client who owned a non-variable insurance policy and wished to sell it to a viatical company. The findings also stated that Mr. Petticolas received approximately $50,151.75 from the entity as compensation for the sale of the life settlement contract to the investor. Mr. Petticolas failed to respond in a timely manner to FINRA's requests for documents and information regarding private securities transactions or outside business activities. Mr. Petticolas, of Hayden, Idaho, was suspended from association with any FINRA member in any capacity for one year. The suspension is in effect from May 6, 2013 through May 5, 2014.

"Selling away" is the inappropriate practice of an investment professional who sells or solicits securities or investments not held, approved, or authorized by the brokerage firm with which the professional is associated. Under NASD and FINRA rules, brokerage firms must approve investments offered by their investment professionals and supervise its sales.

Broker-dealers must establish and implement a reasonable supervisory system to protect customers from broker misconduct. If broker-dealers do not establish and implement a reasonable supervisory system, they may be liable to investors for damages flowing from the misconduct. Therefore, investors who have suffered damages due to prohibited investment recommendations can bring forth claims to recover losses against broker-dealers like O.N. Equity Sales Company.

Have you suffered losses in your O.N. Equity Sales Company account due to similar misconduct by your broker? If so, call Robert Pearce at the Law Offices of Robert Wayne Pearce, P.A. for a free consultation. Mr. Pearce is accepting clients with valid claims against O.N. Equity Sales Company stockbrokers who may have engaged in misconduct and caused investors losses.

The most important of investors' rights is the right to be informed! This Investors' Rights blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida. For over 30 years, Attorney Pearce has tried, arbitrated, and mediated hundreds of disputes involving complex securities, commodities and investment law issues. The lawyers at our law firm are devoted to protecting investors' rights throughout the United States and internationally! Please visit our website, www.secatty.com, post a comment, call (800) 732-2889, or email Mr. Pearce at pearce@rwpearce.com for answers to any of your questions about this blog post and/or any related matter.

LPL FINANCIAL SUBPOENAED BY MASSACHUSETTS REGULATORS OVER SALES OF ALTERNATIVE INVESTMENTS TO SENIORS

LPL Financial LLC was subpoenaed by Massachusetts in connection with a sweep investigation, which is looking into sales practices involving alternative investments sold to seniors. LPL Financial's principal office is located in Boston, Massachusetts. On July 10, 2013, the state's securities division sent the subpoena to LPL Financial asking for information on sales of the products to state residents who are 65 or over. Some of the non-traditional investments include oil and gas partnerships, private placements, structured products, hedge funds, and tenant-in-common offerings. The state demanded information from LPL Financial on any such products that have been sold over the past year, the investors who purchased them, the commissions generated, how the sales were reviewed, and all relevant compliance, training and marketing materials - LPL Financial has until July 24 to respond. The state added that being on the list of targeted firms does not indicate wrongdoing.

Although non-traded REITs were not part of the information request, Massachusetts has expressed its heightened concern "that the senior marketplace is being targeted for the sales of these high-risk, esoteric products," Massachusetts Secretary of the Commonwealth William F. Galvin said in a statement. The state has already cracked down on a number of firms for alleged improper sales of non-traded REITs. In February 2013, the state reached a settlement with LPL Financial to pay at least $2 million in restitution and $500,000 in fines related to the sale of non-traded REITs. In May 2013, it settled REIT cases with Ameriprise Financial Services Inc., Commonwealth Financial Network, Lincoln Financial Advisors Corp., Royal Alliance Associates Inc. and Securities America Inc. The five firms agreed to pay a total of $6.1 million in restitution to investors and fines totaling $975,000.

Senior investors have become the targets of unscrupulous brokers, investment advisors and insurance agents. This is due in part to the fact that as we age, our ability to understand newer and complex investments diminishes every year. Therefore, senior retirement savings are ripe for picking and an epidemic of fraud is underway all across America. As a result many states, such as Massachusetts, have enacted laws with harsh penalties and are performing investigative sweeps to protect senior investors.

Broker-dealers have a duty to protect senior investors from broker misconduct by establishing and implementing an adequate supervisory system to oversee sales practices. If broker-dealers do not so, they may be liable to senior investors for damages flowing from an unreasonable recommendation and sale. Are you a senior investor suffering losses in your LPL Financial LLC account due to an unreasonable recommendation and sale by your broker? If so, call Robert Pearce at the Law Offices of Robert Wayne Pearce, P.A. for a free consultation. Mr. Pearce is accepting clients with valid claims against LPL Financial stockbrokers who may have engaged in misconduct and caused investors losses.

The most important of investors' rights is the right to be informed! This Investors' Rights blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida. For over 30 years, Attorney Pearce has tried, arbitrated, and mediated hundreds of disputes involving complex securities, commodities and investment law issues. The lawyers at our law firm are devoted to protecting investors' rights throughout the United States and internationally! Please visit our website, www.secatty.com, post a comment, call (800) 732-2889, or email Mr. Pearce at pearce@rwpearce.com for answers to any of your questions about this blog post and/or any related matter.

RONALD WAYNE NICHTER BARRED BY FINRA FOR FORGING CUSTOMERS' SIGNATURES AND MISAPPROPRIATING THEIR FUNDS

Ronald Wayne Nichter, a former broker at Boston, Massachusetts based Cantella & Co., Inc., submitted a Letter of Acceptance, Waiver and Consent in which he consented to the described sanction and to the entry of the Financial Industry Regulatory Authority's (FINRA) findings that he misappropriated approximately $140,000 from customers. FINRA stated that in order to carry out the misappropriations, Mr. Nichter forged the clients' signatures on Letters of Authorization that instructed his member firm's clearing firm to issue checks made payable to the customers. Mr. Nichter then intercepted the checks, endorsed them, deposited them into his personal account, and utilized the funds for his personal use without the customers' knowledge and consent. Mr. Nichter, of Greenfield, Indiana, was barred from association with any FINRA member in any capacity.

Broker-dealers must establish and implement a reasonable supervisory system to protect customers from broker misconduct. If broker-dealers do not establish and enforce a reasonable supervisory system, they may be liable to investors for damages flowing from any misconduct. Therefore, investors who have suffered damages due to broker misappropriations such as those by Mr. Nichter can bring forth claims to recover losses against broker-dealers like Cantella & Co., which should oversee its brokers and prevent misappropriation and other misconduct.

Have you suffered losses in your Cantella & Co., Inc. account due to any misappropriation by your broker? If so, call Robert Pearce at the Law Offices of Robert Wayne Pearce, P.A. for a free consultation. Mr. Pearce is accepting clients with valid claims against Cantella & Co., Inc. stockbrokers who may have engaged in misconduct and caused investors losses.

The most important of investors' rights is the right to be informed! This Investors' Rights blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida. For over 30 years, Attorney Pearce has tried, arbitrated, and mediated hundreds of disputes involving complex securities, commodities and investment law issues. The lawyers at our law firm are devoted to protecting investors' rights throughout the United States and internationally! Please visit our website, www.secatty.com, post a comment, call (800) 732-2889, or email Mr. Pearce at pearce@rwpearce.com for answers to any of your questions about this blog post and/or any related matter.

WELLS FARGO ADVISORS SUBPOENAED BY MASSACHUSETTS REGULATORS OVER SALES OF ALTERNATIVE INVESTMENTS TO SENIORS

Wells Fargo Advisors was subpoenaed by Massachusetts in connection with a sweep investigation, which is looking into sales practices involving alternative investments sold to seniors. Wells Fargo Advisors' principal office is located in San Diego, California. On July 10, 2013, the state's securities division sent the subpoena to Wells Fargo Advisors asking for information on sales of the products to state residents who are 65 or over. Some of the non-traditional investments include oil and gas partnerships, private placements, structured products, hedge funds, and tenant-in-common offerings. The state demanded information from Wells Fargo Advisors on any such products that have been sold over the past year, the investors who purchased them, the commissions generated, how the sales were reviewed, and all relevant compliance, training and marketing materials - Wells Fargo Advisors has until July 24 to respond. The state added that being on the list of targeted firms does not indicate wrongdoing.

Although non-traded REITs were not part of the information request, Massachusetts has expressed its heightened concern "that the senior marketplace is being targeted for the sales of these high-risk, esoteric products," Massachusetts Secretary of the Commonwealth William F. Galvin said in a statement. The state has already cracked down on a number of firms for alleged improper sales of non-traded REITs. In February 2013, the state reached a settlement with LPL Financial to pay at least $2 million in restitution and $500,000 in fines related to the sale of non-traded REITs. In May 2013, it settled REIT cases with Ameriprise Financial Services Inc., Commonwealth Financial Network, Lincoln Financial Advisors Corp., Royal Alliance Associates Inc. and Securities America Inc. The five firms agreed to pay a total of $6.1 million in restitution to investors and fines totaling $975,000.

Senior investors have become the targets of unscrupulous brokers, investment advisors and insurance agents. This is due in part to the fact that as we age, our ability to understand newer and complex investments diminishes every year. Therefore, senior retirement savings are ripe for picking and an epidemic of fraud is underway all across America. As a result many states, such as Massachusetts, have enacted laws with harsh penalties and are performing investigative sweeps to protect senior investors.

Broker-dealers have a duty to protect senior investors from broker misconduct by establishing and implementing an adequate supervisory system to oversee sales practices. If broker-dealers do not so, they may be liable to senior investors for damages flowing from an unreasonable recommendation and sale. Are you a senior investor suffering losses in your Wells Fargo Advisors account due to an unreasonable recommendation and sale by your broker? If so, call Robert Pearce at the Law Offices of Robert Wayne Pearce, P.A. for a free consultation. Mr. Pearce is accepting clients with valid claims against Wells Fargo Advisors stockbrokers who may have engaged in misconduct and caused investors losses.

The most important of investors' rights is the right to be informed! This Investors' Rights blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida. For over 30 years, Attorney Pearce has tried, arbitrated, and mediated hundreds of disputes involving complex securities, commodities and investment law issues. The lawyers at our law firm are devoted to protecting investors' rights throughout the United States and internationally! Please visit our website, www.secatty.com, post a comment, call (800) 732-2889, or email Mr. Pearce at pearce@rwpearce.com for answers to any of your questions about this blog post and/or any related matter.

ROBERT RONALD LIGGERO FINED AND SUSPENDED BY FINRA FOR SIGNING CUSTOMERS' NAMES ON IRA DOCUMENTS

Robert Ronald Liggero, a former broker at Jacksonville, Florida based Bull and Bear Brokerage Services, Inc., submitted a Letter of Acceptance, Waiver and Consent in which he consented to the described sanctions and to the entry of the Financial Industry Regulatory Authority's (FINRA) findings that he signed customers' names on documents related to the opening of IRA accounts without the customers' knowledge or consent. Mr. Liggero, of Atlantic Beach, Florida, was fined $5,000 and suspended from association with any FINRA member in any capacity for 20 business days. The suspension is in effect from May 20, 2013 through June 17, 2013.

Broker-dealers must establish and implement a reasonable supervisory system to protect customers from broker misconduct. If broker-dealers do not establish and implement a reasonable supervisory system, they may be liable to investors for damages flowing from the misconduct. Therefore, investors who have suffered damages due to prohibited activity such as unauthorized and/or fraudulent signatures can bring forth claims to recover losses against broker-dealers like Bull and Bear Brokerage Services.

Have you suffered losses in your Bull and Bear Brokerage Services, Inc. account due to unauthorized activities or other misconduct by your broker? If so, call Robert Pearce at the Law Offices of Robert Wayne Pearce, P.A. for a free consultation. Mr. Pearce is accepting clients with valid claims against Bull and Bear Brokerage Services, Inc. stockbrokers who may have engaged in misconduct and caused investors losses.

The most important of investors' rights is the right to be informed! This Investors' Rights blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida. For over 30 years, Attorney Pearce has tried, arbitrated, and mediated hundreds of disputes involving complex securities, commodities and investment law issues. The lawyers at our law firm are devoted to protecting investors' rights throughout the United States and internationally! Please visit our website, www.secatty.com, post a comment, call (800) 732-2889, or email Mr. Pearce at pearce@rwpearce.com for answers to any of your questions about this blog post and/or any related matter.