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FINRA cites ex-Schwab rep for hiding profit-sharing agreement on unapproved comms

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Photo: Edward Berthelot/Getty Images

Julie DiMauro

2 min read
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Rep allegedly exchanged thousands of text messages and emails with customer he had a profit-sharing agreement with, using personal mobile device.

FINRA has suspended a former Charles Schwab & Co rep for two years, fined him $15,000 and ordered him to pay $80,747 for concealing a profit-sharing agreement with a Schwab client.

Daniel Michael Roper was charged with making improper use of a customer’s securities or funds, exercising unauthorized discretion in a customer’s

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