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So far Richard Frankowski has created 573 blog entries.

Corrine Mittag Faces Sanctions From FINRA Over Alleged Email Fraud

Corrine Mittag, formerly a broker with BancWest Investment Services, is looking at sanctions from FINRA for allegedly wiring $34,000 from a client's account without approval and as requested by a fraudulent email, according to the regulator. FINRA ordered that at least one sanction be levied against Mittag, who is now with COR Clearing. In January 2015, Mittag allegedly got an email asking that she sell securities in a client's account. The sales were to generate cash to pay for a wire request to another party in the U.K., according to a Disciplinary Proceeding. Mittag claimed she was the victim of a phishing scheme, her BrokerCheck Report shows. Violating her company's policies that forbade trade requests received via email and which mandated wire requests by confirmed by phone, Mittag never received the appropriate authorization from the client for the sales or approval from the firm. FINRA further claims Corrine Mittag, who has been a registered representative since 1996, misled BancWest, saying [...]

By |March 30th, 2017|Broker Check|
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“My Broker Stole My Money:” Your Rights as a Victim of Securities Fraud and Negligence

For many people, the phrase “securities fraud” is synonymous with Bernie Madoff, the man who ran a multi-billion dollar Ponzi scheme that resulted in thousands of people losing their investment funds. In truth, securities fraud encompasses much more than the stereotypical boiler room: it is any act by a broker, advisor or investment firm that leads an investor to make purchases or sales based on false or incomplete information. As an investor, you have options when your stock broker “steals” your money, either through willful and malicious actions, or through negligence. You can pursue a claim for damages in the civil court system, through settlement negotiations, or through FINRA arbitration proceedings. Regardless of whether or not the government levels federal criminal charges against the individual or the firm, you can still make a claim to recover your losses. The Investor Bill of Rights One or the best ways, of course, to avoid being a victim of securities fraud is to [...]

By |March 29th, 2017|Uncategorized|
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Aegis Capital Investigated By FINRA, SEC, And FINCEN

Aegis Capital Corp., which is a mid-sized brokerage firm out of New York City and has 415 registered representatives, is currently under investigation from three regulators, according to a document filed by the SEC. These regulators include the Financial Industry Regulatory Authority (FINRA), the Securities Exchange Commission (SEC), and the Treasury Department's Financial Crimes Enforcement Network (FINCEN). The document filed by the SEC did not state why Aegis Capital was being investigated. The firm's most recent annual audited financial statement notes, "The company has provided responses to an inquiry and investigative proceeding brought jointly by FINRA, the SEC and FINCEN."  The financial statement covers December 1, 2015, to November 30, 2016. "The matter is in the discovery stage and no estimate of the effects of an adverse conclusion, if any, can be made as of the date of this financial statement." Aegis Capital opened for business in 1984, it currently has twenty-seven disclosures on its FINRA BrokerCheck report.  In an [...]

By |March 16th, 2017|FINRA, SEC|
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Paul Stanley Of Waddell & Reed Barred By FINRA

FINRA announced that it barred former Waddell & Reed Inc. broker Paul Stanley, who was dismissed by Wadell & Reed in January 2016 for failing to comply with the company's professional conduct, supervisory, and compensation policies. Stanley failed to show up for on-the-record testimony sought by the regulator. He, however, reached a settlement with FINRA, neither admitting nor denying its findings. Paul Stanley's BrokerCheck states that he "failed to provide complete information during the firm's internal investigation." Additionally, he "allowed" a representative "who was not properly licensed to participate in solicitation of investment advisory business" and "directed" a representative "to conduct firm business during an internal firm-imposed administrative suspension." Further, Stanley "directly compensated" representatives "outside of firm compensation policies." Stanley began working in the securities industry in 1998. He was registered with eight firms before registering with Waddell & Reed in 2013. Those firms include J.P. Morgan Securities LLC; Chase Investment Services Corp.; Lincoln Financial Advisors Corporation; UBS Financial Services, Inc.; UVEST Financial [...]

By |March 15th, 2017|Broker Check|
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Disclaimer: Mr. Frankowski is licensed in Alabama,Florida and Texas. He is not licensed in any other state including Nevada and California. Mr. Frankowski has represented investors from all over the country in securities cases including: Alabama, California, Colorado, Florida, Georgia, Illinois, Kentucky, Louisiana, Mississippi, Nevada, New Mexico New York, North Carolina, Tennessee, Texas.