Client's daughter alleged her mother's account was coded aggressive and high risk while her mother was a conservative investor. Requests reimbursement for losses on Puerto Rico bonds. Time frame is 4/2008 to 9/2012.

$32,714.73

$32,714.73

Claimants allege investments in unsuitable energy corporate bonds with negligent supervision resulting in alleged damages of at least $375,000-$400,000.

$400,000.00

$70,000.00

Claimants allege unsuitable investments in corporate and municipal bonds in the period of 2014 to 2016.

$220,000.00

$35,000.00

Claimant alleges unsuitable recommendations in corporate and municipal bonds in the period of 2013 to 2016

$500,000.00

$250,000.00

Clients allege unsuitable recommendations of Puerto Rico bonds, in period 2010 to present.

$400,000.00

$50,000.00

FINRA

Without admitting or denying the findings, Blum consented to the sanction and to the entry of findings that he refused to appear for on-the-record testimony during the course of an investigation in connection with customer complaints and arbitration claims alleging, among other things, unsuitable trading.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All capacities

Indefinite

8/14/2017

Client alleges unsuitable recommendations leading to an overconcentration of energy bonds and Puerto Rico municipal bonds. Estimated period is 2009 to 2015.

$250,000.00

$117,500.00

Claimants alleges that the representative was involved as an intermediary or conduit in alleged unsuitable recommendations of energy sector corporate bond investments, in an unknown time period.

$525,000.00

$15,000.00

Clients allege financial consultant recommended unsuitable corporate energy bonds, in period 5/2013 to 9/2015.

$200,000.00

$45,000.00

Claimants alleges that the representative was involved as an intermediary or conduit in alleged unsuitable recommendations of energy sector corporate bond investments. Period at issue is unstated.

$6,000,000.00

$875,000.00

Client alleges claims that the client's account was excessively traded and was concentrated in oil and gas bonds. Recent time frame is 2014 to 2016.

$300,000.00

$137,500.00

Claimant alleges that the representative was involved as an intermediary or conduit in unsuitable recommendations of energy sector corporate bond investments.

$75,000.00

$17,500.00

Claimant alleges that the representative was involved as an intermediary or conduit in unsuitable recommendations of energy sector corporate bond investments.

$2,250,000.00

$285,000.00

On behalf of the client, an attorney alleges that investments were misrepresented and that three purchases which occurred in the client's account were unsuitable and unauthorized. Time frame is 7/2015 to 9/2015

$45,000.00

$29,000.00

Clients allege unsuitble and concentrated recommendations & unauthorized transactions in corporate energy bonds, in an approximate period of 2009 to late 2015.

$445,600.00

$162,500.00

Claimant alleges that the representative was involved as an intermediary or conduit in unsuitable recommendations of energy sector corporate bond investments.

$325,000.00

$65,000.00

On behalf of client, POA verbally complains that the client suffered losses due to unsuitable investments and excessive activity. Time frame is 1/2014 to 1/2016.

$600,000.00

$393,000.00

Client alleges investments in energy bonds were unsuitable and RBC failed to provide ongoing material information regarding the investments, in period 2010 to 2015.

$1,200,000.00

$220,000.00

Client claims that he was unaware of his stated investment objective and risk tolerance and that his financial advisor never informed him of the risk of his portfolio. Time frame is approximately 5/2013 to 1/2016.

Clients allege the financial advisor recommended unsuitable and over-concentrated investments in the energy sector, in period 12/2009 to 12/2015.

$886,070.00

$750,000.00

Client alleges that her financial advisor told her that "B" taxable bonds were the same as "A" tax free bonds. She is not happy with her investments and wants to know if the firm will do anything to help her.

$150,000.00

Client complains that her financial advisor was negligent in recommending the purchase of bonds which have since defaulted. Time frame is Feb 2009 to Apr 2014.

$450,000.00

$52,352.25

Client complains of losses experienced in bonds which she does not feel were appropriate for a moderate investor. Time frame is 3/05 to 1/15

$140,000.00

$64,000.00

CLAIMANTS ALLEGE EXCESSIVE TRADING OF CLIENTS' TRUST ACCOUNTS, IN PERIOD 2006 TO 2010.

$333,000.00

$110,000.00

CLAIMANTS ALLEGED THAT I INDUCED THEM TO PURCHASE PLAID CLOTHING BONDS USING UNSPECIFIED UNTRUE STATEMENTS AND OMISSIONS OF ADVERSE MATERIAL INFORMATION. CLAIMANTS ALLEGE DAMAGES IN EXCESS OF $1,000,000.00 AS A RESULT OF THEIR PURCHASE

$468,000.00

$468,000.00

CLAIMANTS HAVE SETTLED ALL CLAIMS AGAINST ALL PARTIES FOR $468,000 I NEVER MADE AN UNTRUE STATEMENT CONCERNING PLAID CLOTHING. I PROVIDED ALL MATERIAL INFORMATION THAT WAS AVAILABLE TO ME. THIS WAS A CLIENT WHO I ENJOYED A TEN YEAR RELATIONSHIP IN GOOD STANDING UNTIL THIS SITUATION OCCURRED.

ALLEGED MISREPRESENTATION CONCERNING PURCHASES OF PLAID CLOTHING BONDS.

$50,000.00

CLAIMANT SETTLED ALL CLAIMS AGAINST ALL PARTIES FOR $50,000 I NEVER MADE AN UNTRUE STATEMENT CONCERNING PLAID CLOTHING. I PROVIDED ALL MATERIAL INFORMATION THAT WAS AVAILABLE TO ME AT THAT TIME. THIS WAS A CLIENT WHO I ENJOYED A TEN YEAR RELATIONSHIP IN GOOD STANDING UNTIL THIS SITUATION OCCURRED. I CONTINUED TO BE THE CLAIMANT'S BROKER AFTER THE SETTLEMENT WAS MADE AND CONTINUED TO ENJOY AN EXCELLENT RELATIONSHIP WITH HER UNTIL YEARS LATER WHEN SHE PASSED AWAY.

CUSTOMER ALLEGED THAT HER 1993 PURCHASE OF $52,000 OF PLAID CLOTHING BONDS WAS UNSUITABLE

$25,000.00

[CUSTOMER'S] CLAIMS WERE SETTLED FOR $25,000

CUSTOMER ALLEGED MISREPRESENTATION CONCERNING PLAID CLOTHING BONDS.

$107,259.25

CLAIMANT SETTLED ALL CLAIMS AGAINST ALL PARTIES FOR $107,259.25. I NEVER MADE AN UNTRUE STATEMENT CONCERNING PLAID CLOTHING. I PROVIDED ALL MATERIAL INFORMATION THAT WAS AVAILABLE TO ME AT THAT TIME. THIS WAS A CLIENT WHO I ENJOYED A TEN YEAR RELATIONSHIP IN GOOD STANDING UNTIL THIS SITUATION OCCURRED.