Bad Brokers

According to FINRA, Amanda E. Kriss has been suspended from association with any FINRA member firm for failure to provide information or keep information current pursuant to FINRA Rule 9552(d).

The suspension began on February 24, 2025. FINRA Rule 9552 establishes a process for suspending individ...

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According to FINRA, Amanda E. Kriss has been suspended from association with any FINRA member firm for failure to provide information or keep information current pursuant to FINRA Rule 9552(d).

The suspension began on February 24, 2025. FINRA Rule 9552 establishes a process for suspending individuals who fail to provide information or keep their registration information current. This process helps ensure that FINRA has the information it needs to fulfill its investor protection mission.

During the suspension period, the individual cannot associate with any FINRA member firm in any capacity. The suspension remains in effect until the individual either provides the requested information or the suspension converts to a permanent bar.

What Investors Can Learn: Regulatory suspensions are serious matters that prevent individuals from working in the securities industry. Investors should use FINRA BrokerCheck to verify that their financial professionals are properly registered and in good standing. Any disclosed suspensions should be carefully considered.

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According to FINRA, Michael Oakley Thomas has been suspended from association with any FINRA member firm for failure to provide information or keep information current pursuant to FINRA Rule 9552(d).

The suspension began on February 24, 2025. When individuals fail to respond to FINRA's informatio...

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According to FINRA, Michael Oakley Thomas has been suspended from association with any FINRA member firm for failure to provide information or keep information current pursuant to FINRA Rule 9552(d).

The suspension began on February 24, 2025. When individuals fail to respond to FINRA's information requests, they face suspension from the industry. This enforcement mechanism ensures that regulatory inquiries can proceed and that non-compliant individuals cannot continue to work in the securities business.

The suspension affects all capacities—the individual cannot work at a FINRA member firm in any role, whether registered or non-registered. This comprehensive prohibition protects investors from individuals who do not meet their regulatory obligations.

What Investors Can Learn: Cooperation with regulators is a fundamental requirement for securities industry professionals. When your broker faces regulatory sanctions, it's important to understand how this might affect your account and to consider your options. FINRA BrokerCheck provides current information about broker registration status.

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According to FINRA, Eric Jason Abrahams has been suspended from association with any FINRA member firm for failure to comply with an arbitration award pursuant to FINRA Rule Series 9554.

The suspension began on February 21, 2025. FINRA Rule 9554 provides for the suspension of individuals who fail...

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According to FINRA, Eric Jason Abrahams has been suspended from association with any FINRA member firm for failure to comply with an arbitration award pursuant to FINRA Rule Series 9554.

The suspension began on February 21, 2025. FINRA Rule 9554 provides for the suspension of individuals who fail to comply with arbitration awards, settlements, or orders of restitution. This rule exists to ensure that investors who prevail in arbitration proceedings can actually collect the compensation they are owed.

FINRA arbitration is the primary forum for resolving disputes between investors and brokers. When an arbitration panel awards damages to an investor, the broker or firm is obligated to pay. Failure to pay results in suspension from the industry, which continues until the individual satisfies the award or reaches an agreement with the claimant.

The underlying arbitration case was FINRA Arbitration Case #19-03359.

What Investors Can Learn: If you prevail in a FINRA arbitration and the broker fails to pay the award, FINRA can suspend the individual from the industry. However, suspension does not guarantee collection. Investors should consider all collection options and may want to consult with an attorney about enforcement of arbitration awards.

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According to FINRA, James Burchett Cross was suspended from association with any FINRA member firm for failure to comply with an arbitration award pursuant to FINRA Rule Series 9554.

The suspension was in effect from February 5, 2025, through April 1, 2025, indicating that the individual satisfie...

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According to FINRA, James Burchett Cross was suspended from association with any FINRA member firm for failure to comply with an arbitration award pursuant to FINRA Rule Series 9554.

The suspension was in effect from February 5, 2025, through April 1, 2025, indicating that the individual satisfied the arbitration award or reached an agreement with the claimant to lift the suspension.

FINRA's Rule 9554 suspension process incentivizes payment of arbitration awards by preventing non-compliant individuals from working in the securities industry. When individuals cannot earn income from securities activities, they have strong motivation to satisfy their obligations.

The underlying arbitration case was FINRA Arbitration Case #24-01744.

What Investors Can Learn: This case demonstrates that the FINRA Rule 9554 suspension process can be effective in motivating payment of arbitration awards. When brokers face the prospect of losing their ability to work in the industry, many will find a way to satisfy their obligations. Investors who win arbitration awards should ensure that FINRA is informed if payment is not received.

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According to FINRA, Michael Fasciglione has been suspended from association with any FINRA member firm for failure to comply with an arbitration award pursuant to FINRA Rule Series 9554.

The suspension began on February 3, 2025. When arbitration awards go unpaid, FINRA uses the Rule 9554 process ...

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According to FINRA, Michael Fasciglione has been suspended from association with any FINRA member firm for failure to comply with an arbitration award pursuant to FINRA Rule Series 9554.

The suspension began on February 3, 2025. When arbitration awards go unpaid, FINRA uses the Rule 9554 process to suspend the non-compliant individual, preventing them from working in the securities industry until they satisfy their obligation.

The underlying arbitration case was FINRA Arbitration Case #23-01840. The suspension remains in effect until the individual pays the award or reaches an agreement with the claimant.

What Investors Can Learn: Investors who file FINRA arbitration claims should understand that even if they win an award, collection is a separate challenge. Rule 9554 suspensions help by preventing non-paying brokers from continuing to work in the industry, but they do not guarantee payment. Investors may need to pursue additional collection remedies.

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According to FINRA, Jason Michael Fekete's suspension for failure to comply with an arbitration award has been lifted. The suspension was in effect from August 11, 2021, through February 27, 2025—a period of approximately three and a half years.

The underlying arbitration case was FINRA Arbitrati...

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According to FINRA, Jason Michael Fekete's suspension for failure to comply with an arbitration award has been lifted. The suspension was in effect from August 11, 2021, through February 27, 2025—a period of approximately three and a half years.

The underlying arbitration case was FINRA Arbitration Case #20-03558. The lifting of the suspension indicates that the individual has either satisfied the arbitration award or reached an agreement with the claimant.

This case illustrates that Rule 9554 suspensions can remain in effect for extended periods when individuals fail to pay arbitration awards. During this time, the individual cannot work at any FINRA member firm in any capacity, which represents a significant economic consequence.

What Investors Can Learn: The lengthy suspension in this case shows that some brokers may go years without paying arbitration awards. Investors who win awards should be prepared for potential delays in collection and should consider all available remedies, including consulting with an attorney about judgment enforcement options.

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According to FINRA, Jeremy W. Fortner has been suspended from association with any FINRA member firm for failure to comply with an arbitration award pursuant to FINRA Rule Series 9554.

The suspension began on February 24, 2025. The underlying arbitration case was FINRA Arbitration Case #24-02102....

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According to FINRA, Jeremy W. Fortner has been suspended from association with any FINRA member firm for failure to comply with an arbitration award pursuant to FINRA Rule Series 9554.

The suspension began on February 24, 2025. The underlying arbitration case was FINRA Arbitration Case #24-02102. The suspension will remain in effect until the individual satisfies the arbitration award or reaches an agreement with the claimant.

FINRA arbitration provides investors with a relatively efficient forum for resolving disputes with brokers and firms. When investors win awards, they expect to be paid. Rule 9554 helps enforce arbitration awards by imposing professional consequences on individuals who fail to pay.

What Investors Can Learn: If you have a dispute with your broker that cannot be resolved directly, FINRA arbitration is available. While the arbitration process can provide compensation for losses caused by broker misconduct, collecting awards can sometimes be challenging. Rule 9554 suspensions are one tool available to help ensure compliance.

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According to FINRA, Todd Loring Luft has been suspended from association with any FINRA member firm for failure to comply with an arbitration award pursuant to FINRA Rule Series 9554.

The suspension began on February 19, 2025. The underlying arbitration case was FINRA Arbitration Case #24-01964. ...

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According to FINRA, Todd Loring Luft has been suspended from association with any FINRA member firm for failure to comply with an arbitration award pursuant to FINRA Rule Series 9554.

The suspension began on February 19, 2025. The underlying arbitration case was FINRA Arbitration Case #24-01964. Until the award is satisfied or an agreement is reached with the claimant, the suspension prevents the individual from working in the securities industry.

Arbitration awards represent binding decisions that parties are obligated to honor. When brokers fail to pay awards, it undermines the integrity of the arbitration process and leaves harmed investors without the compensation they were awarded.

What Investors Can Learn: Investors considering FINRA arbitration should understand both its benefits and limitations. While arbitration can be faster and less expensive than court litigation, collecting awards from individuals who are unable or unwilling to pay can be difficult. The Rule 9554 suspension process helps by creating professional consequences for non-payment.

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According to FINRA, Andrew Garrett Mandala has been suspended from association with any FINRA member firm for failure to comply with an arbitration award pursuant to FINRA Rule Series 9554.

The suspension began on February 21, 2025. The underlying arbitration case was FINRA Arbitration Case #19-0...

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According to FINRA, Andrew Garrett Mandala has been suspended from association with any FINRA member firm for failure to comply with an arbitration award pursuant to FINRA Rule Series 9554.

The suspension began on February 21, 2025. The underlying arbitration case was FINRA Arbitration Case #19-03359, which is the same case number associated with Eric Jason Abrahams' suspension, suggesting both individuals were respondents in the same arbitration matter.

When multiple individuals are named in an arbitration proceeding and an award is issued against them, each individual is responsible for compliance. Failure by any individual results in a separate suspension action.

What Investors Can Learn: Investors should be aware that arbitration claims can name multiple respondents, including individual brokers and their employing firms. When awards are issued against multiple parties, investors may have multiple sources from which to collect. However, each party's ability and willingness to pay may vary.

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According to FINRA, James J. Mariani has been suspended from association with any FINRA member firm for failure to comply with an arbitration award pursuant to FINRA Rule Series 9554.

The suspension began on February 3, 2025. The underlying arbitration case was FINRA Arbitration Case #23-01840, w...

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According to FINRA, James J. Mariani has been suspended from association with any FINRA member firm for failure to comply with an arbitration award pursuant to FINRA Rule Series 9554.

The suspension began on February 3, 2025. The underlying arbitration case was FINRA Arbitration Case #23-01840, which is the same case number associated with Michael Fasciglione's suspension, indicating both individuals were respondents in the same proceeding.

The suspension remains in effect until the individual satisfies the award or reaches an agreement with the claimant. During this time, the individual cannot engage in any securities-related activities at FINRA member firms.

What Investors Can Learn: When pursuing arbitration claims, investors often name both the individual broker and the firm, or multiple individuals, as respondents. This strategy can increase the likelihood of recovery if the arbitration panel finds in the investor's favor. Consulting with an attorney experienced in securities arbitration can help investors understand their options.

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