What is FINRA’s Suitability Rule?

In 2012, the suitability rules the Financial Industry Regulatory Authority (FINRA) uses changed. Rule 2111 clarified and codified many precedents that were previously upheld and interpreted through case law. Rule 2111 replaces NASD Rule 2310 and offers clear standards that apply to securities brokerages and professionals. The Stipulations of the Rule Advisement professionals must adhere… Read More

The standard broker-customer agreement usually states that disputes between the client and broker, including claims of fraud, will be settled through arbitration rather than litigation. This arbitration, which will be filed with FINRA (Financial Industry Regulatory Authority), does not involve a judge or jury, but instead allows an arbiter to hear your case in a… Read More

Erez Law is investigating claims regarding Sean Eric Mattson (CRD #4028781, South Lyon, Michigan). Mattson recently submitted an AWC in which he was suspended from association with any FINRA member in any capacity for one month. See FINRA Case #2014040837701. Mattson was associated with Ameriprise Financial Services, Inc., from July 2001 until his termination in… Read More

Erez Law is investigating claims regarding David Alexander Lange (CRD #4198134, Meridian, Idaho). Lange recently submitted an AWC in which he was barred from association with any FINRA member in any capacity. See FINRA Case #2014040505802. Lange was associated with Lincoln Financial Securities Corp., from August 2009 until his termination in March 2014. The Form… Read More

Erez Law is investigating claims regarding John Wendland Handy Jr. (CRD #1580981, Madison, Wisconsin), Jonathan Craig Timson (CRD #2031301, Springfield, Missouri) and Dennis Walker (CRD #1058338, Verona, Missouri). Handy, Timson, and Walker recently submitted an AWC in which they were each assessed a deferred fine of $20,000 and each suspended from association with any FINRA… Read More

Erez Law is investigating claims regarding Jonathan A. Francis (CRD #5204602, Brooklyn, New York). Francis recently submitted an AWC in which he was barred from association with any FINRA member in any capacity. See FINRA Case #2013038988301. Francis formerly was associated with J.P. Turner & Co. (October 2013-November 2013), J.P. Morgan Securities, LLC (October 2012-October… Read More

Erez Law is investigating claims regarding Jerry Irvin Chancy (CRD #1787712, Savannah, Tennessee). Chancy recently submitted an AWC in which he was barred from association with any FINRA member in any capacity. See FINRA Case #2014043629801. Chancy formerly was associated with Legend Equities Corp. (November 2006-January 2015). FINRA found that Chancy refused to appear for… Read More

Erez Law is investigating claims regarding Aaron Robert Parmether (CRD #2546369, Fort Lauderdale, FL), also known as Ron Parmether. Parmether recently submitted an AWC in which he was barred from association with any FINRA member in any capacity. See FINRA Case #2011030405801. Parmether was associated with Wells Fargo Advisors LLC from October 2011 until his… Read More

Erez Law is investigating claims regarding Michael Vincent Borja (CRD #5451360, Miami, Florida). Borja recently submitted an AWC in which he assessed a deferred fine of $5,000 and suspended from association with any FINRA member in any capacity for 45 days. See FINRA Case #2013037029901. Borja formerly was associated with Wells Fargo Advisors, LLC (January… Read More

Erez Law is investigating claims regarding Bernard G. McGee (CRD #1203327, Cazenovia, New York). Following a FINRA hearing, McGee was barred from association with any FINRA member in any capacity; ordered to pay $236,202.50, plus interest, in restitution to a customer; and ordered to pay $59,264, plus interest, in disgorgement. See FINRA Case #2012034389202. McGee… Read More