A broker who left JPMorgan's banking channel to join Merrill Lynch has agreed to a preliminary injunction barring him from soliciting his former clients as the parties await a FINRA arbitration proceeding.
Tagged with "FINRA"
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JPMorgan wins round in fight over client contacts with Merrill broker
Posted on March 31st, 2020 at 9:07 AM
FINRA Suspends Broker for 2 years for Cheating on Exams
Posted on March 25th, 2020 at 4:30 PM
Broker Barred for Failure to Appear for On-the-Record Interview
Posted on March 24th, 2020 at 5:20 PM
James Blake Daughtry, a former representative at Kestra Investment Services, has agreed to a bar from the securities industry. On March 5, 2020, Daughtry signed a letter of Acceptance, Waiver and Consent (“AWC”), agreeing to be barred from associating with any FINRA member firm in any capacity for his failure to appear for an on-the-record interview (“OTR”) with FINRA.
Former Merrill Lynch Adviser Barred by SEC
Posted on March 20th, 2020 at 2:02 PM
The Securities and Exchange Commission (“SEC”) has barred Marcus Boggs. Boggs had previously been terminated from Merrill Lynch and barred by the Financial Industry Regulatory Authority (“FINRA”).
FINRA Enforcement Suspends Rep for Outside Business Activity
Posted on March 12th, 2020 at 3:34 PM
Former Morgan Stanley Manager, Ben Fujihara, agreed to a $5,000 fine and a 30-day suspension from association with any FINRA member firm, following allegations by FINRA Enforcement that Fujihara failed to notify his FINRA-member firm about the full nature of his participation in an outside business activity, in violation of FINRA Rules 3270 and 2010.
FINRA Enforcement Numbers for 2019
Posted on March 9th, 2020 at 3:06 PM
In 2019, FINRA Enforcement ordered firms and associated persons to pay $70 million in fines, restitution and disgorgement. Of the $70 million, $44 million was in the form of fines, including 9 fines of over $1 million. These 9 “supersized” fines totaled $27.9 million. Additionally, FINRA ordered roughly $24 million in restitution and $2 million in disgorgement in 2019.
Law Firms File Claims against GPB Funds
Posted on March 6th, 2020 at 2:42 PM
Several law firms have redoubled their efforts to solicit investors in the GPB fraud Ponzi scheme. One law firm recently filed a GPB fraud case against Pruco Securities and Kalos Capital for wrongful sale of private placements, including GPB Capital on behalf of an elderly investor who purportedly has suffered investment losses over $250000.
Responding to FINRA Enforcement 8210 Inquiries – Part 2
Posted on February 25th, 2020 at 3:31 PM
This is the second part of a three-part series.
As discussed in part one of this three-part series, written inquiries made pursuant to FINRA Rule 8210 are a tool used by FINRA Enforcement when investigating registered representatives for potential violations. Rule 8210 requires registered representatives to comply with FINRA’s requests for information and documents.
FINRA Suspends Registered Representative for Serving as an Undisclosed Power of Attorney
Posted on February 20th, 2020 at 2:07 PM
William J. Schnepp has agreed to a two-month suspension form association with any FINRA member firm in any capacity, as well as a deferred fine of $5,000, for violations of FINRA Rule 2010.
FINRA Bars Maryland Broker for Converting Funds
Posted on February 18th, 2020 at 2:22 PM
Ronald “Ramone” Knight has agreed to be barred from association with any FINRA member firm in any capacity after FINRA found that he falsified expense reports.
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