12/10/2018 Dalton Strategic Investment Services Archives | Rex Securities Law BLOG

Rex Securities Law BLOG

Category Archives: Dalton Strategic Investment Services

ANNUITIES, DALTON STRATEGIC INVESTMENT SERVICES, DIRECT CAPITAL SECURITIES, FINRA, FINRA INVESTIGATION OF
STOCKBROKER, MISREPRESENTATION

DALTON STRATEGIC INVESTMENT SERVICES

STOCK BROKER SANCTIONED OVER ANNUITY
SALES- CORAL GABLES, FL
DECEMBER 7, 2015 | REX SECURITIES LAW

October 14, 2015-Coral Gables, FL

Andrew M. Abern , entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial
Industry Regulatory Authority (FINRA) to resolve allegations that he failed to appear at an on the
record interview requested by FINRA to answer questions relating to recommendations he made to
customers regarding the purchase and sale of variable annuities.

AWC No.  2015043654301

Abern was barred from the securities industry.

This was not Abern’s rst regulatory issue involving the sale of annuities. In 2012, FINRA accepted a
Letter of Acceptance, Waiver and Consent in which Abern,  consented to ndings by FINRA that
he violated NASD Conduct Rules 2310 and 2111 by providing customers with variable annuity expense
disclosure forms that understated the annual expenses, and by engaging in an unsuitable transaction
with a customer. Abern consented to a $25,000 ne in that matter.

According to FINRA records,Abern  was registered with Dalton Strategic Investment Services  from

2/2010-9/2014. Prior to that he was registered with Direct Capital Securities from 6/2008-2/2010.

If you have losses in an account handled by Abern, you may be able to recover damages from the rm
that employed him. Chat presently offline.
https://blog.rexsecuritieslaw.com/category/brokerage-firms/dalton-strategic-investment-services/ 1/6
12/10/2018 Dalton Strategic Investment Services Archives | Rex Securities Law BLOG

Rex Securities Law , with of ces in Boca Raton, FL,  and  Austin, TX,   provides representation to
 investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of
stockbrokers and broker dealers. If you have questions about how your account has been handled, call
to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are
successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

ANDREW M. ABERN ANNUITY CHURNING ANNUITY SWITCHING

DALTON STRATEGIC INVESTMENT SERVICES COMPLAINT DALTON STRATEGIC INVESTMENT SERVICES PROBLEM

DIRECT CAPITAL SECURITIES COMPLAINT DIRECT CAPITAL SECURITIES PROBLEM RECOVER INVESTMENT LOSSES

STOCKBROKER MALPRACTICE STOCKBROKER NEGLIGENCE

ALLSTATE FINANCIAL SERVICES, ATLAS ONE FINANCIAL, BEST DIRECT SECURITIES, BROKERAGE FIRMS, COBALT CAPITAL,
CREDICORP SECURITIES, DALTON STRATEGIC INVESTMENT SERVICES, EFG CAPITAL INTERNATIONAL, EQUITY STATION,
INTERNATIONAL ASSETS ADVISORY, J.P. TURNER & COMPANY, STOCKBROKER MALPRACTICE, SUN TRUST INVESTMENT
SERVICES, VENECREDIT SECURITIES, VFINANCE INVESTMENTS

FINRA ANNOUNCES OCTOBER 2012

DISCIPLINARY ACTIONS
OCTOBER 19, 2012 | REX SECURITIES LAW

The Financial Industry Regulatory Authority (FINRA) issues a report on disciplinary and other actions
involving registered brokers, investment advisers and brokerage rms every month. 

Chat presently offline.

https://blog.rexsecuritieslaw.com/category/brokerage-firms/dalton-strategic-investment-services/ 2/6
12/10/2018 Dalton Strategic Investment Services Archives | Rex Securities Law BLOG

Here are significant Florida related actions for October 2012. Follow this
link to the FINRA website for the entire report for actions nationwide for the month of October
2012 as well as to access  earlier time periods.

This month Variable Annuities seems to be the common theme in the

Florida matters. These investments are subject to abuse since they
generally offer the selling broker a commission substantially greater
than most of the other options. 

You can access the employment, educational and disciplinary history of any broker by going to the

FINRA Broker Check website which can be accessed here. 

Cobalt Capital, Inc.-Winter Park, FL– was censured and ned $15,000 and ndings were entered that
the rm failed to preserve all of its business-related electronic communications for about two years.

Credicorp Securities, Inc.-Coral Gables, FL– was censured and ned $10,000 and ndings were entered
that the rm failed to report transactions to TRACE and also incorrectly reported some transactions
and that in 31 instances the rm failed to provide proper disclosure to customers. 

EFG Capital International, Corp.-Miami-FL– was censured and ned $32,500 and ndings that the
failed to report the correct contra-party identi er for transactions in TRACE eligible securities to
TRACE and other violations related to TRACE.

Equity Station, Inc.-Boca Raton, FL– censured and ned $10,000 and ndings entered that the rm
conducted securities business while failing to maintain its required net minimum capital and that the
rm booked transactions for which there was no economic substance or support and improperly
classi ed a receivable. It was also found that the rm failed to le early warning noti cations and led
inaccurate monthly FOCUS reports. 

Venecredit Securities, Inc.-Miami, FL– censured and ned $25,000 and FINRA found that for 2 years
most of the rm’s retail business came from foreign nders who were employed by a related entity and
that the rm did not adequately supervise the foreign nders. De ciencies were also found as to the
retention of electronic communications. 
Chat presently offline.
https://blog.rexsecuritieslaw.com/category/brokerage-firms/dalton-strategic-investment-services/ 3/6
12/10/2018 Dalton Strategic Investment Services Archives | Rex Securities Law BLOG

vFinance Investments, Inc.-Boca Raton,FL-censured and ned $22,500 and ndings that is sold
corporate bonds to customers at a price that was not fair. The rm was also ned an additonal $25,000
for failing to maintain minimum net capital requirements, booking transactions for which there was no
economic substance and other infractions.

Adam S. Deane- Naples, FL– censured and ned $25,000 and suspended for three months, with ndings
that Deane recommended and executed a variable annuity replacement in a state where he was not
licensed to sell such a product. The ndings also state that he included false information in the
application. Suspension is from September 4, 2012-December 3, 2012. According to FINRA records,
Deane is not currently registered. He last worked for Best Direct Securities, LLC in Bonita Springs. Prior
to that he was with Merrill Lynch. 

Alice H. Everett-Hialeah, FL-submitted Offer of Settlement in which she was barred from association
with any FINRA member in any capacity. Findings were entered that she failed to respond to FINRA
requests for information regarding a private securities transaction and unsuitable investment
recommendations. According to FINRA records, Everett is not currently registered and last worked for
Allstate Financial Services in Sunny Isles, FL. Prior to that she worked for Intersecurities, Inc. in Hialeah.

Michael J Hester-Tampa, FL-barred by FINRA upon ndings that he engaged in a private securities
transaction by accepting $20,000 from individuals for the purchase of an investment without approval
from his rm. Hester deposited the funds into a bank account controlled by him and converted them to
his personal use. Hester is not currently registered with FINRA and last worked for International Assets
Advisory in Orlando. Prior to that he was with Oppenheimer & Co. 

Alan B. Levin-Coral Springs, FL– ned $10,000 and suspended for 10 days for allowing his rm to
conduct business while not capital de cient and while he was serving as FINOP. Levin is currently
employed by VFinance Investments, Equity Station, Inc. and National Securities Corp. in Boca Raton, FL.

Edgar A Thomas-Winter Haven, FL- ned $5,000 and suspended for 10 days upon ndings that he failed
to supervise a broker who recommended variable annuity purchases and exchanges without reasonable
basis to believe the customer was adequately apprised of the associated costs. Thomas is not currently
registered and last worked for Brookstone Securities, Inc. in Lakeland, FL. Prior to that he was with J.W.
Cole Financial. 

Kris M Thoresen-Ponte Vedra, FL- ned $10,000 and suspended for one year upon ndings that he did
not comply with rm guidelines with regard to the sale of variable annuities. The transactions had a
value in excess of $1.2 million and some were resubmitted directly to the product sponsor after his rm
had rejected them. Thoresen
is not currently registered and last worked for Allstate Financial Services in Jacksonville. 
Chat presently offline.
https://blog.rexsecuritieslaw.com/category/brokerage-firms/dalton-strategic-investment-services/ 4/6
12/10/2018 Dalton Strategic Investment Services Archives | Rex Securities Law BLOG

Stephanie L Webster-Ft. Lauderdale, FL- ned $5,000 and suspended for 15 days upon ndings that she
trying to settle a customer complaint by paying $70,000, without notifying her current or previous
member rm. Webster is not currently registered and last worked for Atlas One Financial Group in
West Palm Beach, FL. Prior to that she was with Capital Guardian, LLC. 

Andrew M. Abern-Miami,FL- ned $25,000 and censured upon ndings that he provided some
customers with variable annuity expense disclosure forms containing inaccurate information. The
proposed transaction was unsuitable since it contemplated using re nancing proceeds from the
customers residence and was too high a concentration level. Abern is registered with Dalton Strategic
Investment Services in Coral Gables, FL. 

Johan Mary-Lyn Akal-Sarasota, FL– named a respondent in a FINRA complaint alleging that she forged,
without authority, a customers signature on withdrawal slips and took over $47,000 from the customers
bank account. Akal is not currently registered. Her last registration was with Suntrust Investment
Services in Sarasota, FL. 

Levinski D Barnes-Lutz, FL-named a respondent in a FINRA complaint that he misled a customer as to

an outside investment, collected $50,000 from the customer and only returned a portion. Barnes is not
currently registered. His last registration was with J.P. Turner & Company. 

If you have questions about losses or other activity in your brokerage account, please do not hesitate to
contact us. We have been helping investors recover stock market losses for more than 20 years. 

Free consultation. Nationwide representation.

Rex Securities Law

561 391 1900

Chat presently offline.

https://blog.rexsecuritieslaw.com/category/brokerage-firms/dalton-strategic-investment-services/ 5/6
12/10/2018 Dalton Strategic Investment Services Archives | Rex Securities Law BLOG

JP TURNER COMPLAINTS JP TURNER FINRA PROBLEM JP TURNER LITIGATION JP TURNER PROBLEM

JP TURNER SEC PROBLEM STOCKBROKER MALPRACTICE

This site is protected by wp-copyrightpro.com

Chat presently offline.

https://blog.rexsecuritieslaw.com/category/brokerage-firms/dalton-strategic-investment-services/ 6/6