Securities representative suspended and fined for allegedly falsely certifying that he had personally completed the continuing education required to renew an insurance license
Another person had completed 18 hours of insurance continuing education on his behalf.
FINRA Rule 2010
Products representative suspended and fined for allegedly falsely certifying that he had personally completed the continuing education required to renew an insurance license
Another person had completed 15 hours of insurance continuing education on his behalf.
FINRA Rule 2010
Crown Capital Securities censured and fined for allegedly failing to effectively supervise direct business transactions
The firm was aware that its representatives placed some transactions directly with product sponsors on behalf of firm customers.
While the representatives were requires to submit such transactions for approval, the firm did not have any systems or procedures in place to ensure that they appeared on the firm’s daily trade blotter.
As a result 9,000 direct business transactions were not run through the exception reports that the firm used to monitor for unsuitable activity.
A restitutionary payment of $116,390.58 plus interest has been ordered.
FINRA Rule 2010 FINRA Rule 3110 NASD Rule 3010
Products representative suspended and fined for allegedly falsely certifying that he had personally completed the continuing education required to renew 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. |