Soreide Law Group, (888) 760-6552, has obtained the following information on FINRA’s website under “Disciplinary and Other FINRA Actions, September, 2013.”
Adam A. Pflum (CRD #5220575, Registered Representative, Clayton, North Carolina)
was suspended from association with any FINRA member in any capacity for one year. Without admitting or denying the findings, Adam A. Pflum consented to the described sanction and to the entry of findings that he formed a hedge fund, for the purpose of trading his own funds.
FINRA's findings stated that Adam Pflum’s member firm through an outside email, detected this outside business activity and requested that he submit an outside business activity (OBA) form. Pflum's firm denied his request for approval to create and engage in business through the hedge fund. Without disclosure to the firm, Pflum filed documents with the North Carolina Division of Corporations to create the fund listing Pflum as a managing member. Pflum opened multiple securities accounts titled to the fund and directed securities trading on behalf of the fund.
FINRA's findings also stated that Pflum opened with another FINRA member firm, numerous securities accounts in the name of the fund and failed to disclose to his firm that he had opened securities accounts with another FINRA member firm, had trading authorization over the securities accounts, and had participated in the execution of transactions in the undisclosed securities accounts.
The suspension is in effect from August 5, 2013, through August 4, 2014.
(FINRA Case #2011028988901)
Adam A. Pflum was previously registered with FINRA at the following brokerage firms:
SCOTTRADE, INC.
CRD# 8206
GARNER, NC
08/2009 - 08/2011
This ends the information obtained on FINRA's website.
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