Former securities representative suspended and fined for allegedly holding beneficial interest in two outside brokerage accounts without firm approval
FINRA Rule 2010
FINRA Rule 3210
Former associated person barred for allegedly refusing to provide information and documents
FINRA Rule 2010
FINRA Rule 8210
Former securities representative barred for allegedly failing to provide documents and information
FINRA Rule 2010
FINRA Rule 8210
Former securities representative suspended and fined for allegedly associating with a member firm while suspended
Despite a suspension and statutory disqualification, the representative continued to engage in securities business and did not inform his customers that he was suspended.
FINRA By-Laws Article III Section 3
FINRA Rule 2010
Securities principal suspended and fined for allegedly failing to reasonably supervise traders
The two traders in question were inaccurately marking the value of positions on their trading books to conceal millions of dollars in unrealized losses from the firm.
The principal failed to:
- review the marks entered by the traders;
- reasonably investigate or respond to red flags suggesting that the traders were mismarking their positions.
The principal has consented to a requirement to attend and complete 10 hours of continuing education concerning supervisory responsibilities.
FINRA Rule 2010
FINRA Rule 3110
Former securities representative barred for allegedly failing to provide requested documents and information
FINRA Rule 2010
FINRA Rule 8210
Former securities principal suspended and fined for alleged Reg BI violations
The principal recommended the purchase of speculative, unrated corporate bonds to a customer with a conservative risk tolerance and a stated investment objective of income and capital conservation.
A partial restitution of $100,000 plus interest has also been ordered.
FINRA Rule 2010
SEA 1934 Rule 15l-1
Former securities representative suspended and fined for allegedly circumventing firm procedures concerning beneficiary designations
The procedures prohibited registered individuals and immediate family members from becoming beneficiaries of firm clients.
The representative assisted a customer with designating the representative’s immediate family members as beneficiaries on six of the customer’s accounts held at the firm.
FINRA Rule 2010
Former securities representative barred for allegedly refusing to appear for on-the-record testimony
FINRA Rule 2010
FINRA Rule 8210
Former securities representative suspended and fined for allegedly forging customer signatures
The underlying transactions were authorized and none of the customers complained.
FINRA Rule 2010
| Unless otherwise noted all respondents accepted and consented to FINRA’s findings without admitting or denying them. |
