FINRA

Respondent Ohel failed to respond to FINRA request for information.

Letter

Bar (Permanent)

All capacities

Indefinite

7/22/2019

Pursuant to FINRA Rule 9552(h) and in accordance with FINRA's Notice of Suspension and Suspension from Association letters dated January 14, 2019 and April 17, 2019, respectively, on July 22, 2019, Ohel is barred from association with any FINRA member in all capacities. Respondent failed to request termination of his suspension within three months of the date of the Notice of Suspension; therefore, he is automatically barred from association with any FINRA member in all capacities.

Bankruptcy

Discharged

Proceedings in FINRA Arbitration Case #17-02849 were stayed by Bankruptcy proceedings in the U.S. Bankruptcy Court, Northern District of Illinois, case #17-37144.

Claimants, as co-trustees of their deceased mother's trust, allege that her former advisor sold shares of her Walgreens stock against her wishes and without her authorization. Claimants allege that the sale of Walgreens stock was unsuitable and, as a result of the sale, their mother owed $49,943 in taxes.

$49,943.00

$30,000.00

Claimant alleges that in 2014 she made several loans to her advisor. Though he made some payments back to claimant, Claimant alleges that she was still owed about $43,560 as of July 2016. Claimant seeks damages exceeding $50,000.

$50,000.00

$30,000.00

cfd Investments, Inc.

Discharged

The firm received a customer complaint alleging excessive trading, breach of fiduciary duty, and unsuitable transactions.

Client alleged Excessive Trading, Breach of fiduciary duty, and lack of suitability with respect to multiple transactions conducted in client's account.

$15,540.63

$15,540.63

The client's attorney alleged the annuities purchased in May of 2015 were unsuitable, unauthorized and misrepresented. It was also alleged that the advisor misappropriated the client's assets.

$115,000.00

$15,860.38

This filing is made based on a U5 filing made by Ameriprise Financial Services, Inc. CFD did not receive the complaint and the details of this matter are not known to CFD, but were identified by Ameriprise in their filing. Adviser's former partner, [Third Party] had joint responsibility for this account, including investment planning and selection, as well as regular contact with the clients regarding the their investments. The clients did not make any complaints to Adviser at any time during the 18 months after the investment was made. Adviser has reason to believe that the clients complained after [Third Party] provided misleading information to client regarding their investments. Adviser has no knowledge of any alleged misappropriation and denies any such allegations.

Michigan

1.The Administrator intends to DENY the SECURITIES AGENT REGISTRATION APPLICATION OF ZIV OHEL, under section 412(1) of the Securities Act, MCL 451.2412(1), because Applicant engaged in dishonest or unethical practices within the last 10 years, which supports the denial of his registration application under the above-cited provisions of the Michigan Uniform Securities Act (2002), 2008 PA 551, MCL 451.2101 et seq.

Stipulation and Order for Withdrawal

Order for Withdrawal

Based on information on the U5 filed by Ameriprise, the client alleged that the advisor made unsuitable recommendations and misrepresented the terms of the annuities purchased February 2015 and February 2016.

$6,521.98

Neither CFD for the financial adviser have received the complaint, or been given the opportunity to respond to the same, despite requests made to Ameriprise regarding the complaint. The information is based on filing made by Ameriprise on their form U5. The subject transaction and all related transactions were approved by Ameriprise. The client was a joint client of the financial adviser and [third party], who was also responsible for the activities in the client account. The client only complained after termined with Ameriprise, and the adviser has reason to believe that the complaint came after misleading information surrounding his termination was provided by Duncan and/or Ameriprise.

Based on information filed by Ameriprise, the client alleged his October 2016 statement showed a transaction that was not authorized.

$30,996.00

Neither CFD for the financial adviser have received the complaint, or been given the opportunity to respond to the same, despite requests made to Ameriprise regarding the complaint. The information is based on filing made by Ameriprise on their form U5. The subject transaction and all related transactions were approved by Ameriprise. The client was a joint client of the financial adviser and [third party], who was also responsible for the activities in the client account. The client only complained after termined with Ameriprise, and the adviser has reason to believe that the complaint came after misleading information surrounding his termination was provided by Duncan and/or Ameriprise.

Based on information filed by Ameriprise, client alleged the advisor moved money into the annuity in June of 2016 without his knowledge and authority, and the move did not match the client's investment situation and needs.

$18,000.00

Neither CFD for the financial adviser have received the complaint, or been given the opportunity to respond to the same, despite requests made to Ameriprise regarding the complaint. The information is based on filing made by Ameriprise on their form U5. The subject transaction and all related transactions were approved by Ameriprise. The client was a joint client of the financial adviser and [customer], who was also responsible for the activities in the client account. The client only complained after termined with Ameriprise, and the adviser has reason to believe that the complaint came after misleading information surrounding his termination was provided by Duncan and/or Ameriprise.

Ameriprise Financial

Discharged

The registered representative was terminated on October 25, 2016 for policy violations including receiving a loan from and being named in fiduciary capacities for a client of the firm.

THE CLIENT ALLEGED THE ADVISOR MADE A POOR RECOMMENDATION FOR A VARIABLE ANNUITY PURCHASED IN NOVEMBER 2014. SEPARATELY, THE CLIENT ALLEGED AN UNAUTHORIZED SALE OF STOCK IN JANUARY 2015.

$7,184.37

ALLEGES SUITABILITY AND FAILURE TO FOLLOW INSTRUCTIONS

$396,116.00

ALLEGES FC ENGAGED UNSUITABILITY, BREACH OF FIDUCIARY DUTY AND NEGLIGENCE FROM NOVEMBER 30, 1999 THROUGH DECEMBER 31, 2002.

$200,659.00

$35,000.00

CLIENT ALLEGED FC MISREPRESENTED APPLICABLE MANAGED ACCOUNT FEES - 2000-2002.

$32,732.00

$11,200.00

THE CLAIM WAS SETTLED FOR $11,200.