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FINRA disciplinary action update 2024/23

Montage of person walking by the FINRA sign.
GRIP Montage: Getty Images

Disciplinary decisions issued June 8 – 14, 2024.

Securities representative barred for alleged unethical conduct

The representative facilitated the designation of his wife as the beneficiary of two accounts of a senior customer. The representative’s wife was identified as the customer’s niece in order to disguise from the firm the fact that this was a “prohibited beneficiary designation.”

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