FINRA has suspended a Senior Managing Director at Cantor Fitzgerald & Co., Riaz Haidri, for three weeks for disclosing confidential information regarding a customer’s trading strategy and later confirming the customer’s identity to another customer. Mr. Haidri was the co-head of Cantor Fitzgerald’s high yield fixed income trading desk at…
**Update: November 11, 2021** On November 8, 2021, Aegis Capital Corp agreed to pay nearly $2.7 million in sanctions for supervisory failures related to excessive and unsuitable trading by its brokers from July 2014 through December 2018. Click on the following link to read more: Aegis Capital Corp. Ordered to…
The Financial Industry Regulatory Authority (“FINRA”) has suspended financial advisor Mark Larry Delgadillo from the securities industry for one month. Mr. Delgadillo consented to the suspension after FINRA alleged that he engaged in discretionary trading without written authorization for 16 customers between August 1, 2019, and October 31, 2019, executing…
The Financial Industry Regulatory Authority (“FINRA”) has suspended financial advisor John O’Bannon for 15 business days over allegations that Mr. O’Bannon, while registered with Edward Jones in West Des Moines, Iowa, attempted to settle a customer complaint without the knowledge or approval of his firm. FINRA also fined Mr. Hansen…
The Financial Industry Regulatory Authority (“FINRA”) has barred broker Chad Mackland from the securities industry. Mr. Mackland was barred from the brokerage industry for refusing to cooperate with a FINRA investigation into alleged theft and fraudulent sales practices. According to his BrokerCheck report, Mr. Mackland is facing four felony charges…
The Financial Industry Regulatory Authority (“FINRA”) has barred compliance officer Corey White from the securities industry and fined him $20,000. Mr. White was expelled from the brokerage industry for supervisory failures during his tenure as a compliance officer for Financial West Group in Westlake Village, CA, from January 2013 to…
FINRA has suspended Buckman, Buckman and Reid broker Allan Katz from associating with any FINRA member for 20 business days for reusing an elderly customer’s signature pages on account transfer forms. The alleged conduct took place while Katz was associated with another FINRA member, Royal Alliance. In addition to his…
FINRA has suspended financial advisor Trevor B. Rahn from the securities industry for 18 months and fined him $10,000. FINRA alleged that Mr. Rahn engaged in a pattern of breaking up customer orders for execution in violation of FINRA Rules. Specifically, from January 2014 to September 2018, Mr. Rahn recommended…
FINRA has suspended FMN Capital broker Jeffrey Stanga from the securities industry for 12 months for failing to fully disclose the nature of his outside business activities and for participating in private securities transactions without providing the required written notice to or receiving written approval from his firm. Stanga was…
FINRA has suspended former Purshe Kaplan Sterling broker Tonya Nicole Smoake from the securities industry for 12 months for participating in private securities transactions without her firm’s knowledge or approval. Smoake was also fined $5,000. She is no longer associated with a FINRA member but remains subject to FINRA’s jurisdiction.…