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 […]

FINRA, the Financial Industry Regulatory Authority, has eased up on a controversial interpretation of its new suitability rule in a move that is bound to make the industry happy writes Dan Jamieson in a recent artilce in InvestmentNews.com. The new guidance issued December 10th., 2012, FINRA backtracked from an earlier interpretation of the rule, which […]

John Brian Busacca III (CRD #2302780, Registered Principal, Orlando, Florida) was fined $30,000 and suspended from association with any FINRA member in any principal capacity for six months. The SEC sustained the sanctions following appeal of a NAC decision. The U.S. Court of Appeals denied Busacca’s petition for review.   The sanctions were based on […]

The following information is from FINRA’s website under “Disciplinary Actions, April, 2012:” Headwaters BD, LLC (CRD #117042, Denver, Colorado), Paul Edward Janson (CRD #4992234, Registered Principal, Avon, Connecticut), Roberta Ann Laraway (CRD #4845302, Registered Principal, Lone Tree, Colorado) and Philip Williams Seefried Jr. (CRD #1747086, Registered Principal, Denver Colorado) submitted an Offer of Settlement in […]

The following information is from FINRA's website under "Disciplinary Actions, March, 2012:   Spartan Securities Group, LTD (CRD #104478, Clearwater, Florida)   submitted a Letterof Acceptance, Waiver and Consent in which the firm was censured, fined $52,500 and required to revise its WSPs regarding its supervisory system, procedures and qualifications;order handling; best execution; anti-intimidation/coordination; trade […]

The following information was obtained on FINRA’s website’s ‘Disciplinary Actions, February 2012.”   Bulltick Securities, LLC (CRD #132092, Miami, Florida)   submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $125,000. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry […]

The following information was obtained on FINRA’s website’s ‘Disciplinary Actions, February 2012.”   Revere Securities Corp. (CRD #14178, Boca Raton, Florida)   submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured, fined $15,000 and required to revise its WSPs (Written Supervisory Procedures)  regarding OATS (Order Audit Trail System) reporting.   […]