Moloney Securities Co., Inc. (CRD #38535, Manchester, Missouri) was censured and fined $20,000 for allegedly allowing their representatives to recommend and sell non¬traditional ETFs to their clients. FINRA's report stated that Moloney Securities' Written Supervisory Procedures (WSPs) didn't address the sale or the supervision of non-traditional exchange traded funds (ETFs), and Moloney Securities did not […]

Turner & Company, L.L.C. (CRD #43177, Atlanta, Georgia) was censured and fined $65,000 by FINRA for allegedly failing to establish, maintain, and enforce Written Supervisory Procedures (also known as WSPs) designed to comply with securities laws and regulations. These laws include prohibiting insider trading and NASD Rule 3050, which requires brokers to have duplicate copies […]

Infinex Investments, Inc. (CRD #35371, Meriden, Connecticut) was censured, fined $75,000 by FINRA, and ordered to pay $287,171.75 in restitution to it's clients. Infinex Investments, Inc., allegedly failed to review non-traditional exchange-traded funds (ETFs) at the same level that other new products offered for sale to their customers. FINRA's findings stated that Infinex Investments registered […]

Dawson James Securities, Inc. (CRD #130645, Boca Raton, Florida) was censured, fined $75,000, and required by FINRA to revise its Written Supervisory Procedures (WSPs). According to the FINRA report, Dawson James Securities WSPs allegedly failed to provide for one or more of the four minimum requirements for adequate WSPs in several subject areas required. FINRA's […]

Carolina Financial Securities, LLC (CRD #41970, Brevard, North Carolina) was censured and fined $50,000 by FINRA for allegedly selling an unregistered private placement offering to their investors for approximately $1.1 million. FINRA's findings stated that allegedly Carolina Financial Securities failed to follow their own procedures in regards to the selling of private placements and conduct […]

The former brokerage, Howe Barnes Hoefer & Arnett of Chicago, which in 2010 was acquired by Raymond James Financial, Inc., was fined $200,000 by FINRA, the Financial Industry Regulatory Authority. The reason for the fine and censure was because of excessive markups of U.S. Treasury and agency STRIPS and zero-coupon municipal bonds. FINRA also allegedly […]

The following list of individual brokers who were barred by FINRA, appeared on FINRA's website under, ""Disciplinary and Other Actions, June, 2014." Individuals Barred for Failure to Provide Information or Keep Information Current Pursuant to FINRA Rule 9552(h) (If the bar has been vacated, the date follows the bar date.) Christopher Bryan Babbitt (CRD #6123929) […]

The following list was obtained on FINRA's "Disciplinary and Other Actions, June, 2014." The following are the Firms Suspended for "Failure to Supply Financial Information Pursuant to FINRA Rule 9552" (According to FINRA, the date the suspension began is listed after the entry. If the suspension has been lifted, the date follows the suspension date.) […]

This summation of information was found on FINRA’s website under “Disciplinary and Other FINRA Actions, June, 2014.” Soreide Law Group (888) 760-6552. World Trade Financial Corporation (CRD #42638, San Diego, California), Jason Troy Adams (CRD #2137404, La Mesa, California), Frank Edward Brickell (CRD #3257725, Encinitas, California) and Rodney Preston Michel (CRD #1275392, San Diego, California). […]