Donna Jean Hines (CRD #4275524) was barred by FINRA from serving as a financial advisor in all capacities in November 2021 after refusing to appear for on-the record testimony. FINRA requested Hines’s testimony in connection with its investigation into whether Hines facilitated a client’s bitcoin investment away from Cetera Advisors, her member firm, for compensation. Hines initially cooperated with FINRAs investigation but ceased doing so in September 2021.
Hines submitted a Letter of Acceptance Waiver and Consent accepting FINRA’s findings and sanction. Hines first associated with a FINRA in 2000 before working for Cetera Advisors LLC. She became registered with FINRA as a General Securities Representative through her association with Cetera. After seven years of employment, Cetera filed a Uniform Termination notice for Hines in May 2021, terminating her FINRA registration.
FINRA Rule Violation
FINRA Rule 8210(a)(1) states that FINRA has the right to “require a member, person associated with a member, or any other person subject to FINRA’s jurisdiction to provide information orally, in writing, or electronically (if the requested information is, or is required to be, maintained in electronic form) and to testify at a location specified by FINRA staff, under oath or affirmation administered by a court reporter or a notary public if requested, with respect to any matter involved in the investigation, complaint, examination, or proceeding.”
FINRA Rule 8210(c) states that “no member or person shall fail to provide information or testimony or to permit an inspection and copying of books, records, or accounts pursuant to this Rule.”
Hines violated FINRA Rule 8210 by refusing to appear for on-the-record testimony as requested by FINRA in connection with her alleged involvement in a bitcoin investment.