The FINRA Department of Enforcement filed a complaint against a firm and several associated persons for allowing a formerly registered representative to continue to engage in securities activities after he was statutorily disqualified. FINRA alleged that the disqualified individual continued to discuss investments with the firm's customers and receive compensation under the guise of being an "analyst."
FINRA is requesting that the panel make a final judgment ordering that the firm and its associated persons (i) disgorge any ill-gotten gains and/or make full and complete restitution, including interest, and (ii) bear the costs of the proceeding.
Originally published April 23, 2020.
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