FINRA Files Complaint Against Dawn Bennett
FINRA filed a complaint against Dawn Bennett for failing to testify in its investigation of possible fraud related to her clothing company. Bennett did not appear for testimony on four different occasions between April and September of this year, violating FINRA’s rules, according to FINRA’s complaint. The charges come roughly a year after the regulator […]
Oppenheimer & Co. Fined By FINRA
FINRA fined Oppenheimer & Co. $3.4 Million for failures in reporting internal discipline, giving information in arbitration cases, and offering sales discounts to customers. [su_spacer size=”10″] Between 2008 and 2016, the firm was on average four years late making 365 filings with FINRA, pertaining to disciplinary actions it took against its own brokers and arbitration […]
Mark Tauzin Suspended For Unsuitable Trading
FINRA suspended former LPL Financial broker Mark Tauzin for engaging in unsuitable short-term trading of unit investment trusts as well as maintaining blank, signed forms in customer files. He was suspended for eight months from any FINRA registered broker-dealer, fined $20,000 and required to pay $205,000 plus interest to 14 sets of clients. That sum represents the […]
PIABA Issues Report On BrokerCheck’s Shortcomings
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Debra Ferrara Suspended For Fraudulent Wire Transfer
Debra Ferrara, a former client administrator at Morgan Stanley, was fined and suspended by FINRA for fraudulently transferring a total of $108,680 out of a client’s account to third party bank accounts and for falsifying records. Morgan Stanley terminated Ferrara in December 2011 for falsifying information recorded in its books. Ferrara agreed to be fined […]
Gregory Bauer Barred By FINRA
FINRA barred former Waddell & Reed Inc. broker Gregory Bauer from the securities industry for making over $400,000 in unauthorized withdrawals from his parents’ accounts. [su_spacer size=”10″] Bauer, was registered with Waddell & Reed from 2004 to 2013. According to the settlement, for numerous years at the firm, Bauer was the registered representative serving his parents […]
Jeffrey Howell Barred From Securities Industry
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FINRA Bars Jay Jules Gruenebaum
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A Record Year for FINRA Fines
With the levying of some very hefty fines, FINRA is set to beat last year’s amount by nearly 70%, according to a recent Investment News article. In the first half of 2016 alone, FINRA assessed four fines over $5 million dollars each. The article called attention specifically to the $20 million dollar fine MetLife Inc. […]
FINRA Bars Broker Douglas Wayne Studer
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