FINRA’s Allegations

FINRA alleged that it initiated an investigation into Ronald G. Smith regarding allegations that he engaged in excessive trading or churning in a customer account.  He provided a partial response to FINRA’s investigation but did not provide all of the requested documents and information.

It is a violation of FINRA Rule 8210 to refuse to respond to or cooperate with a FINRA investigation.  Violations of FINRA Rule 8210 often result in suspensions or expulsions from the securities brokerage industry, and Smith was barred by FINRA.

Ronald Smith’s Industry History

Ronald Smith was affiliated with Spartan Capital Securities from 2013 to December 2023.  He worked in a New York City office.  In addition, he has been the subject of two customer complaints.

Spartan Capital Securities’ Potential Responsibility

Under FINRA Rule 3110, broker-dealers like Spartan Capital Securities must reasonably supervise the activities of their representatives.  If a firm does not adequately supervise their representatives, it could be liable for any investor harm.

Our firm represents investors throughout the country as well as New York, who have been victims of broker misconduct, unsuitable investment recommendations, and fraud.  If you were a client of Ronald G. Smith and believe he acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View Ronald Smith FINRA AWC
• View his BrokerCheck Report

Contact Us for a Free Case Evaluation

Call us today at (720) 599-3505 or (206) 795-5798 or fill out our contact form to learn more about your rights.

Allegations Against Matthew Winthrop

FINRA BrokerCheck discloses that Matthew Winthrop was fired by Equitable Advisors in September 2025.  According to BrokerCheck, Equitable Advisors disclosed that he was “discharged for excessive trading in client brokerage accounts”.  Excessive trading also is commonly referred to as “churning”, when an advisor makes a number of trades primarily to increase his compensation or commissions without any significant benefit to the client.

Background of Matthew Winthrop

Matthew Winthrop was licensed with Equitable Advisors from January 2022 to September 2025 in Easton, Connecticut.  He is now registered with Aegis Capital and was previously with Aegis Capital from September 2017 to January 2022.  Winthrop has also been the subject of five customer complaints in his 31 years in the securities industry. 

Is Equitable Advisors Responsible for Winthrop’s Conduct?

FINRA Rule 3110 states that securities broker-dealers like Equitable Advisors must adequately monitor the activity of its advisors.  Brokerage firms could be responsible for investor losses if it failed to reasonably supervise him.

We Help Investors in Connecticut

We represent investors throughout the United States as well as Connecticut, who have been victims of broker misconduct, unsuitable investment recommendations, and fraud.  If you were a client of Matthew Winthrop and believe he acted improperly, you may be entitled to recover losses through FINRA arbitration.

• View Winthrop’s BrokerCheck Report

Contact Us for a Free Case Evaluation

Call us today at (720) 599-3505 or (206) 795-5798 We have experience representing Connecticut investors and are ready to help you recover what you deserve.

FINRA has brought a regulatory action against Dennis Herrera of Aegis Capital in Miami, Florida, alleging that he violated Regulation Best Interest (Reg BI) by excessively trading or churning two customers’ accounts.  If you lost money investing with Herrera, you may have legal options to recover your losses. The securities arbitration law firm of Israels & Neuman is reviewing a FINRA action involving Dennis Herrera, a former representative of Aegis Capital.

As evidence of the excessive trading, FINRA alleged that the two accounts had cost-to-equity ratios of 25% and 28% respectively.   This means that the accounts had to earn profits of 25% and 28% just to break even from the costs of trading, making it very difficult, if not impossible, for the investor to realize any gains.

Background on Dennis Herrera

Dennis Herrera had been a representative of Aegis Capital between March 2016 and October 2023.  He worked at a Miami, Florida and a New York City office.  He also operated companies called Nuday Capital and Nuday Assets.  Herrera was also the subject of a customer complaint made in 2020, which settled for $56,817.

What If I Have Investment Losses?

Florida investors have the right to pursue claims through FINRA arbitration, a legal forum designed to help recover funds lost due to broker misconduct or unsuitable investment recommendations.

Dennis Herrera may be individually liable for misrepresentation, unsuitable advice, or breach of fiduciary duty. However, Aegis Capital may also bear responsibility if they failed to properly supervise Herrera or ignored warning signs.

We Represent Investors in Miami and Across Florida

At Israels & Neuman, we have helped thousands of investors nationwide recover money lost to financial advisor misconduct and represent investors throughout Florida. Our attorneys have extensive experience handling claims involving Aegis Capital.

Find Herrera’s FINRA AWC here

Find Herrera’s BrokerCheck report here

Free Case Review — Speak to a Securities Fraud Attorney Today

If you invested with Dennis Herrera, contact us for a free case evaluation. Our attorneys are here to help you understand your rights and determine whether a claim through FINRA arbitration is right for you.

(720) 599-3505 or (206) 795-5798