Former securities representative barred for allegedly refusing to appear for on-the-record testimony
FINRA Rule 2010 FINRA Rule 8210
Securities representative suspended and fined for allegedly falsely certifying that he had personally completed the continuing education required to hold an insurance license
Another person had completed 15 hours of insurance continuing education on his behalf.
FINRA Rule 2010
Former securities representative suspended and fined for allegedly appending electronic signatures to documents without the permission of customers
All transaction in affected were authorized by the customers.
FINRA Rule 2010 FINRA Rule 4511
Former securities representative suspended and fined for allegedly borrowing money from his customer
Two repayments on the loan were made prior to the customer’s death at which point no further payments were made and the representative “refused to make any future payments to the customer’s estate”.
FINRA Rule 2010 FINRA Rule 3240
Walton RE Securities censured and fined for allegedly conducting securities business while failing to maintain its required minimum net capital
In addition the firm also failed to:
- properly accrue liabilities from an expense sharing agreement;
- notify FINRA and the SEC of its net capital deficiencies;
- maintain an accurate general ledger;
- prepare accurate net capital computations.
One inaccurate FOCUS reports was also submitted by the firm.
SEA 1934 Rule 17a-3 SEA 1934 Rule 17a-5 SEA 1934 Rule 17a-11 SEA 1934 Rule 15c3-1 FINRA Rule 2010 FINRA Rule 4110 FINRA Rule 4511
Securities representative barred for allegedly refusing to appear for on-the-record testimony
FINRA Rule 2010 FINRA Rule 8210
Former securities representative barred for allegedly refusing to appear for on-the-record testimony
FINRA Rule 2010 FINRA Rule 8210
Securities representative suspended and fined for allegedly exercising discretion in two accounts without prior authorization
FINRA Rule 2010 FINRA Rule 3260 NASD Rule 2510
NewEdge Securities censured and fined for allegedly charging unfair prices in corporate and municipal bond transactions
The firm “used inter-dealer bid or offer quotations to determine the prevailing market price when a contemporaneous inter-dealer transaction price was available” to the detriment of customers.
The firm’s system supervising fair price calculations was deemed inadequate.
A restitutionary payment of $44,927.83 plus interest has also been imposed.
FINRA Rule 2010 FINRA Rule 2121 FINRA Rule 3110 MSRB Rule G-17 MSRB Rule G-27 MSRB Rule G-30
Securities representative barred for allegedly refusing to appear for on-the-record testimony
FINRA Rule 2010 FINRA Rule 8210
Former investment principal suspended and fined for allegedly borrowing money from customers
One of two loans was not repaid and resulted in a complaint from a customer that the principal settled without obtaining his firm’s approval.
FINRA Rule 2010 FINRA Rule 3240
Former securities representative suspended for alleged excessive trading in customer accounts
The excessive trading resulted in high turn-over rates and cost-to-equity ratios and led to significant losses.
The representative also borrowed money from a customer without providing notice to or obtaining written approval from his firm.
SEA 1934 Rule 15l-1 FINRA Rule 2010 FINRA Rule 2111 FINRA Rule 3240
| Unless otherwise noted all respondents accepted and consented to FINRA’s findings without admitting or denying them. |