FINRA Issues Sanction To Securities Broker Enoch Booth

It appears that FINRA barred securities broker Enoch Stanley Booth (CRD#: 4370233, Columbia, South Carolina). Evidently, the financial industry watchdog decided on July 20, 2021 to bar Booth as securities broker. This is for his alleged failure to provide documents to FINRA throughout its investigation that focused on private securities transactions. FINRA wanted to see if Booth may have violated industry rules. Not only that, BrokerCheck shows that Valic Financial Advisors Inc., who Booth worked for in December 2020, disaffiliated with him for alleged misconduct. Here’s more about those disclosures.

FINRA Bars Enoch Booth As Securities Broker Effective July 2020 For Alleged Investigation Violation

Notably, Enoch Booth agreed to be barred as a securities broker to resolve FINRA’s allegations that he refused to participate in an investigation in violation of FINRA rules. As a FINRA-member securities broker, Booth was supposed to cooperate with FINRA’s requests during an investigation which meant handing documents and other information over if the regulator asked for it.
Here, FINRA reviewed the circumstances of Enoch Booth’s termination from Valic with concern. Namely, when a securities broker does not get permission from their employer for private securities transactions, they not only potentially violate company policy but also FINRA rules. Allegations relating to Booth’s termination involve private securities transactions and nondisclosure of an IRA. The regulator also looked into whether Booth’s actions with clients violated FINRA rules.
It appears that Enoch Booth had an opportunity to clarify what happened that caused Valic to part ways with him. Booth did not give the information over in response to a June 2021 request and later specified with FINRA that he was not cooperating going froward. For this reason, FINRA says that Booth cannot work as a securities broker for any firms with FINRA membership (most major securities brokerages in the US).

Valic Disaffiliates With Booth For Alleged Nondisclosures Of Securities Transactions, Selling Away

Three reasons are specified for Valic’s discharge of Enoch Booth in December 2020. First of all, the firm claimed that Booth omitted mention of a series of private securities transactions (selling away activities). Secondly, Booth purportedly omitted a self-directed IRA that he was supposed to disclose. Thirdly, Booth supposedly provided clients with gift cards violating company policy.

Did You Suffer Damages By Investing Through Enoch Booth?

Did you experience losses because of broker Enoch Booth? If so, call Soreide Law Group at (888) 760-6552. You can speak with a skilled securities lawyer about a potential recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered compensation for hundreds of United States investors who have incurred losses because of their financial advisors and securities brokers. Booth denies all allegations of his sales practice violations.