FINRA Sanctions Nicholas Ash

The Financial Industry Regulatory Authority (FINRA) reports important information about securities broker Nicholas Ash [CRD#: 6244799, Topeka, KS]. However, Ash denies the allegations. Read on to learn more about the allegations against Ash.

OFG Financial Services Securities Broker Ash Sanctioned By FINRA For Outside Business Activities

Evidently, FINRA issued Case #: 2020068668803 on June 8, 2022 sanctioning Nicholas Ash for infractions. Allegedly, Ash engaged in an undisclosed outside business activity. Therefore, on June 8, 2022, FINRA issued a two-month suspension and a $5,000 fine.

Supposedly, from November 2017 through August 2018, and also during October 2019 and July 2019, during the time that he was associated with OFG Financial Services Inc., Ash was involved in two outside business activities while failing to provide prior written notice to OFG. Specifically, in November 2017, Ash became involved in a limited liability company that purchased and operated rental properties. Ash owned 12.5% of the company. The other co-owners of the company were OFG registered representatives who collectively owned 75% of the company. The broker, along with the other owners, caused the company to purchase properties from OFG clients. Evidently, Ash did not inform OFG of his outside business activities until August 2018. Supposedly, the broker received roughly $1,500 in compensation due to his involvement with the company.

Additionally, between October 2019 and July 2021, Ash was involved with a separate real estate company as an independent contractor. This company owned and leased a property to an OFG client. Ash's involvement with the company centered around him performing repair and maintenance projects in exchange for compensation. The broker received approximately $500 from this company for his services. Ash did not inform OFG of this activity, and it was only discovered by OFG through FINRA's investigation in April 2021. Ash violated FINRA Rules 2010 and 3270.

Recent Employer Information

Ash has been employed by OFG Financial Services in Topeka, KS, as a securities broker since August 12, 2014.

Did OFG Financial Services Securities Broker Nicholas Ash Cause You To Experience Damages?

Have you experienced damages by investing with Nicholas Ash? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with a securities lawyer about a possible recovery of your investment losses. Notably, Soreide Law Group has successfully recovered money for investors in all 50 states. The firm represents clients on a contingency fee basis and advances all costs. Ash and brokerage firms Ash was employed by deny any and all allegations of sales practice violations.