TerraNova Capital Equities censured and fined for allegedly selling unregistered securities
TerraNova served as placement agent for three private offerings claiming an exemption from registration. The issuers, however, did not file a Form D for each offering within the required time-period, and so failed to qualify the securities for the safe harbour exemption. TerraNova sold the securities to 12 investors who invested $966,875.
The firm did not have in place adequate systems and procedures that would have ensured that the firm did not participate in a distribution of unregistered or non-exempt securities.
The firm has agreed to the imposition of an undertaking requiring it to certify in writing the remediation of the issues identified.
FINRA 2010 FINRA 3110
Former products representative barred for allegedly refusing to provide information and documents as well as refusing to appear for on-the-record testimony
FINRA Rule 2010 FINRA Rule 8210
Securities representative suspended and fined for allegedly borrowing from a customer without obtaining approval from her employer
FINRA Rule 2010 FINRA Rule 3240
Voya Financial Advisors censured and fined for allegedly making transaction-based payments to an unregistered entity
The firm paid approximately $2.9m in connection with the sale of variable universal life insurance to a limited liability company primarily owned by an insurance agent who was not registered with FINRA.
FINRA Rule 2010 FINRA Rule 2040
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
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
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
| Unless otherwise noted all respondents accepted and consented to FINRA’s findings without admitting or denying them. |