The Tampa, Florida-based Calton & Associates, Inc. has agreed to pay $37,500.00 to settle Financial Industry Regulatory Authority (FINRA) charges that it allegedly violated municipal securities rules, including allegedly failing to disclose required mark-up and mark-down information on hundreds of retail customer confirmations.
According to an article from Fidelity.com, the $37,500.00 fine for violating Municipal Securities Rulemaking Board rules was imposed as part of a wider FINRA disciplinary action that fined Calton & Associates for a total of $75,000.00. The settlement document that fined and censured Calton & Associates was accepted by FINRA on May 20, 2025.
The allegations against Calton & Associates appear on FINRA’s BrokerCheck, available to the public on FINRA’s website. Without admitting or denying the findings, Calton consented to sanctions and FINRA's findings that it allegedly failed to disclose required mark-up or mark-down information on hundreds of retail customer confirmations for municipal securities transactions and corporate and agency debt securities transactions.
According to the Fidelity article, FINRA found that between May of 2018 and April of 2021, Calton & Associates issued approximately 250 confirmations for municipal securities transactions to retail customers that failed to include any of the mark-up or mark-down information required under MSRB Rule G-15. FINRA also found that between July of 2018 and May of 2022, the firm allegedly violated MSRB Rule G-14 by failing to report the correct time of trade "to the second" when reporting more than 7,800 municipal securities transactions to the MSRB's Real-time Transaction Reporting System. Also, Calton violated MSRB Rule G-27 by failing to set up and maintain a supervisory system reasonably equipped to achieve compliance with the applicable disclosure and reporting obligations of MSRB Rules G-14 and G-15.
Contact the Florida-based Soreide Law Group and speak to an experienced securities lawyer at no cost to discuss this article or any other securities issues at: 888-760-6552.
Soreide Law Group represents our clients nationwide before FINRA on a contingency fee basis, no fee if no recovery.
Soreide Law Group has filed a FINRA arbitration on behalf of our clients (Claimants) against: CONCORDE INVESTMENTS SERVICES, LLC, and BERTHEL, FISHER & COMPANY FINANCIAL SERVICES, INC (Respondents). The Claimants are in their late 70s, retired, and according to the lawsuit, were not looking to take any unnecessary risks with their retirement savings. The Claimants […]
THEODORE WILLIAM BYRER (THEODORE W BYRER, TED BYRER) was registered as a broker with MORGAN STANLEY of Indianapolis, Indiana, from 11/11/2013 - 04/20/2023. He was most recently registered with INTERNATIONAL ASSETS ADVISORY, INC of Westfield, Indiana, from 05/09/2023 - 09/17/2024. According to his BrokerCheck CRD report, dated 7/23/2026, THEODORE W BYRER was suspended for 14 […]
MARK LAWRENCE SULLIVAN (MARK SULLIVAN, MARK L SULLIVAN), formerly with UBS Wealth Management USA in New York City, was fined $10,000 and suspended for three months by the Financial Industry Regulatory Authority (FINRA) over allegations that he traded in customers’ accounts without the proper approval. Sullivan was previously registered both as a broker and as an […]
Phone:
Fax: 1-954-760-6553
Email: info@securitieslawyer.com