Former products representative barred for allegedly refusing to provide documents and information
FINRA Rule 2010 FINRA Rule 8210
Former securities representative barred for allegedly refusing to provide on-the-record testimony
FINRA Rule 2010 FINRA Rule 8210
Elevation LLC censured and fined for alleged supervisory system failures
The firm did not have in place a surveillance and review system that would monitor for fraudulent trading, including spoofing, layering, and wash trades.
FINRA Rule 2010 FINRA Rule 3110
Former securities representative suspended and fined for allegedly communicating with firm customers by way of personal text messaging
The firm’s policy required the use of firm approved devices and applications for communications with customers.
The representative exchanged hundreds of text messages with 14 firm customers. The messages included authorization for the purchase and sale of stocks as well as investment recommendations, market updates and conversations about account performance.
FINRA Rule 2010 FINRA Rule 4511
RCM Securities censured and fined for alleged compliance failures connected to Form CRS
The firm failed to file and deliver Form CRS in a timely fashion. The firm also failed to disclose the existence of legal or disciplinary history in the form.
The firm has agreed to an imposition of an undertaking requiring that the remediation of the deficiencies identified be certified in writing by a registered principal of the firm.
Exchange Act Rule 17a-14 FINRA Rule 2010
Investment adviser charged with allegedly paying securities commissions to an unregistered person
The unregistered person in question solicited new customers, attended meetings, made recommendations, maintained customer records and “received commissions from securities transactions” – all conduct that would have required registration.
Please note that this is a complaint and not an AWC.
FINRA Rule 2010 FINRA Rule 2040
Securities representative suspended and fined for alleged unauthorized trading in a customer’s account
FINRA Rule 2010
Former products representative barred for allegedly refusing to produce information and documents requested by FINRA
FINRA Rule 2010 FINRA Rule 8210
Former securities representative suspended and fined for allegedly exercising discretion in a customer’s account without written authorization
FINRA Rule 2010 FINRA Rule 3260
Former products representative barred for allegedly refusing to appear for on-the-record testimony
FINRA Rule 2010 FINRA Rule 8210
Purshe Kaplan Sterling Investments censured and fined for allegedly failing to share material information with investors
Three investors were not informed that the issuer of the securities being sold to them had delayed the filing of its audited financial statements.
A partial restitution of $16,000 plus interest has also been ordered.
FINRA Rule 2010
Former securities representative barred for allegedly refusing to provide documents and information
FINRA Rule 2010 FINRA Rule 8210
Former securities representative barred for allegedly refusing to provide documents and information
FINRA Rule 2010 FINRA Rule 8210
Former securities representative barred for allegedly refusing to provide documents and information
FINRA Rule 2010 FINRA Rule 8210
Former securities representative suspended and fined for allegedly engaging in outside business activity without notifying his employer
The representative had been appointed as executor of a customer’s estate and served in this role. He did not receive compensation for this role.
FINRA Rule 2010 FINRA Rule 3270
| Unless otherwise noted all respondents accepted and consented to FINRA’s findings without admitting or denying them. |