FINRA Bars Former Jefferies Advisor After Refusal to Cooperate with Regulatory Probe
From the desk of Jim Eccleston at Eccleston Law
Nicholas Coubrough, a former wealth advisor with Jefferies Financial Group Inc. in Miami, has been permanently barred from the securities industry following his refusal to cooperate with an investigation by the Financial Industry Regulatory Authority (FINRA).
As reported by ThinkAdvisor, the regulator initiated the inquiry after receiving a regulatory tip and reviewing disclosures related to Coubrough’s exit from Jefferies. While the firm did not accuse him of participating in alleged “impermissible money-wire transfers” or “off-channel” communications that prompted the dismissal of several other Miami-based advisors, Jefferies reportedly terminated Coubrough for soliciting improper payments from colleagues in exchange for withholding damaging information about their conduct.
ThinkAdvisor reports that FINRA requested documents and information from Coubrough related to the investigation, but he declined to comply. As a result, FINRA issued a permanent bar, citing his failure to cooperate with its request. Coubrough consented to the sanction through a FINRA Acceptance, Waiver and Consent (“AWC”) — without admitting or denying its findings.
Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, transition, regulatory, and disciplinary matters.
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