Soreide Law Group obtained the following information from FINRA's December 2021 Disciplinary Report. William A Fochi Jr (BILL FOCHI JR, WILLIAM A FOCHI) (CRD #1773450, Hebron, Connecticut) On October 6, 2021, an Acceptance, Waiver and Consent (AWC) was issued in which William A Fochi Jr was fined $10,000 and suspended from association with any FINRA […]

James Orlow Maloney (CRD #1056257, South Colorado Springs, Colorado) was assessed a deferred fine of $10,000 and suspended by FINRA for 10 months for allegedly selling equity-indexed annuities (EIAs) outside the scope of his employment with his member firm and without providing the firm any notice of the business activity. FINRA's findings stated that Jim […]

Phillip John Bucaro (CRD #2171289, West Chicago, Illinois) was fined $7,500 and suspended by FINRA for four months for allegedly selling unapproved equity-indexed annuities (EIAs) to the clients in his firm and Bucaro receiving approximately $203,000 for those sales. FINRA's findings stated that the firm had an approved EIA list that it allowed its representatives […]

Recently, on the Financial Regulatory Industry Authority's (FINRA) website, they posted a very valuable article on equity-indexed annuities. The following information is from this article. "Sales of equity-indexed annuities (EIAs)—also known as "fixed-indexed insurance products" and "indexed annuities"—have grown considerably in recent years. Although one insurance company at one time included the word "simple" in […]

The following information is from FINRA’s website under “Disciplinary and Other FINRA Actions, February, 2013.” David Arthur Tetley (CRD #1511967, Registered Representative, Fairfield, Connecticut) was fined $5,000 and suspended from association with any FINRA member in any capacity for four months. Without admitting or denying the findings, Tetley consented to the described sanctions and to […]