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FINRA sanctions PFS Investments for failure to obtain written notice of outside business activity

Photo: Anya Berkut/Getty Images

Alexander Barzacanos

1 min read
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Action arises from an anonymous complaint about the OBA’s advertising.

FINRA has sanctioned PFS Investments Inc (PFSI) of Duluth, Ga, for failing to enforce the requirement that representatives submit written notice of participation in an outside business activity (OBA).

The failure to comply with FINRA Rule 3270 has resulted in a censure and a $60,000 fine.

According to the Letter of Acceptance

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