The Securities and Exchange Commission of the U.S. (the SEC) recently fined J.P. Morgan Securities $18,000,000 for taking various steps to prevent securities whistleblowers from contacting the SEC or other securities regulators. J.P. Morgan agreed to the Order which can be found here. The alleged wrongdoing centered on the language…
Lickhai Quach, a Silver Spring, Maryland broker/agent of Transamerica Financial Advisors, Inc., was recently barred by FINRA from association with any FINRA firm. The FINRA Letter of Acceptance, Waiver, and Consent states that Mr. Quach refused to produce documents or information to investigators as required by FINRA Rule 8210. Mr.…
FINRA has announced on its website that it has barred Tennessee financial advisor D. Wray Rodgers of Collierville. According to FINRA’s Letter of Acceptance, Waiver, and Consent, Mr. Rodgers was registered with the firm Vining-Sparks IBG, LLC, and FINRA had begun an investigation regarding “whether Rodgers engaged in an outside…
FINRA recently suspended an Edward Jones financial advisor from Sunset Beach, California for borrowing money from a customer without firm authorization. The FINRA Letter of Acceptance, Waiver and Consent against Scott P. Smith can be found here. According to the AWC, Mr. Smith borrowed money in five different loans from…