CALL TOLL FREE
800-760-0912

Investor Rights Blog

The Law Firm of David Chase is reviewing allegations concerning Melville, New Jersey-based Oppenheimer & Co broker Paul E Colchamiro, which are based on a 2017 complaint seeking in excess of $2 million and alleging violations of suitability, churning and failure to supervise. Colchamiro has been employed by Oppenheimer & Co. since 1998 at its Melville, New York location. Unsuitability and churning are serious forms of broker misconduct. A broker’s employing firm is responsible for...
Read More
Under the law, there are several key legal and equitable defenses available​ to a financial advisor who finds himself defending against a promissory note or employee forgivable loan FINRA Arbitration case filed by a former employing broker-dealer seeking the unpaid balance on a note or forgivable loan. While there are variances in state laws, and the facts in a particular case may or may not support the defense, the following are several of the key legal and equitable affirmative defenses I...
Read More
The Law Firm of David Chase is reviewing allegations involving former Atlanta, Georgia-based Merrill Lynch broker Blake P. King concerning the exercise of discretion in a client’s brokerage accounts and unauthorized trading. In January 2017, Blake voluntary resigned from Merrill Lynch for purportedly violating firm policies and improperly exercising discretion in a client’s nondiscretionary accounts. Later in June 2017, FINRA permanently barred King for failure to respond to a FINRA request for information. Unauthorized trading...
Read More
The Law Firm of David Chase is reviewing allegations against former Hilo, Hawaii-based First Allied Securities broker John K Kai (CRD#2163244) involving the improper exercise of discretion in client brokerage accounts, unsuitable investment recommendations and engaging in unauthorized outside business activity. According to FINRA’s BrokerCheck report on Kai, a customer filed a complaint against him while he was employed at Commonwealth Financial Network alleging Kai provided investment advice that was unsuitably risky for the client....
Read More
The Law Firm of David Chase is investigating Athens, Georgia-based Raymond James & Associates (CRD#705) broker John H. Alexander (CRD#4751186) over allegations he excessively traded customer client accounts for the purpose of generating fees and commissions. According to FINRA’s BrokerCheck report on Alexander, a customer filed a complaint against Alexander alleging he churned the customer’s account for the express purpose of generating commissions and fees for himself. Raymond James Associates employed Alexander from February 2013...
Read More
The Law Firm of David Chase is investigating allegations involving Tampa, Florida-based Merrill Lynch (CRD#7691) broker Joel T Summerlin (CRD#2289767) with respect to possible excessive trading (churning) and unsuitable investment recommendations. According to FINRA’s BrokerCheck report on Summerlin, a customer filed a complaint alleging he churned or excessively traded a customer account and rendered unsuitable investment advice from 2010 to 2017. Merrill Lynch has employed Summerlin from December 1992 in Tampa. Unauthorized trading takes place...
Read More
The Law Firm of David Chase is investigating former Boston, Massachusetts based Morgan Stanley (CRD#149777) broker James S Polese (CRD#2636427) concerning allegations of misrepresentation and misappropriation of client funds. According to Polese’s FINRA BrokerCheck report, a customer filed a complaint against Polese in May of 2017 alleging he misrepresented managed account fees from 2015 to 2017. The complaint was later settled for $33,260. Polese has one other disclosure on his BrokerCheck report — in June...
Read More
1 2 3 5