Kyle Timothy Holland (CRD #2308543, Registered Principal, Austin, Texas)  was barred from association with any FINRA member in any capacity. Without admitting or denying the allegations, Holland consented to the described sanction and to the entry of findings that, acting in the capacity of his member firm’s managing director, he engaged in activities requiring […]

  Randy Craig Hester (CRD #1382578, Registered Representative, Highland Park, Illinois)   was censured, fined $5,000 and suspended from association with any member firm in any capacity for one year. The fine must be paid either immediately upon Hester’s reassociation with a FINRA member firm following his suspension, or prior to the filing of any […]

Thomas Eugene Hendricks (CRD #2622427, Registered Representative, Salem, Ohio) was barred from association with any FINRA member in any capacity. Without admitting or denying thefindings, Hendricks consented to the described sanction and to the entry of findings that he borrowed $3,000 from a customer/personal friend to be repaid by a certain date, but failed to […]

FINRA, the Financial Industry Regulatory Authority Inc., issued an investor alert about the risks of ETNs, exchange-traded notes, after an investigation of Credit Suisse and Barclays ETNs this year. ETNs are often thought of as as ETFs, exchange-traded funds, but in reality, the two are very different.  ETNs are promissory notes written by banks to deliver the returns of an […]

  Brett Henderson (CRD #2420629, Registered Representative, North Salt Lake City, Utah) was fined $95,000, which includes restitution of $82,505 payable to customers, and suspended from association with any FINRA member in any capacity for 11 months. Henderson consented to the described sanctions and to the entry of findings without admitting or denying the allegations, […]

  Sean K. Hannon (CRD #4296260, Registered Representative, Cary, North Carolina)   has submitted an Offer of Settlement in which he was barred from association with any FINRA member in any capacity. Hannan, without admitting or denying FINRA's allegations, consented to the described sanction and to the entry of findings that he failed to provide investigative […]

Soreide Law Group, PLLC, has begun investigating potential claims against Money Concepts Capital Corp. and broker, Gurudeo "Buddy" Persaud. The Securities and Exchange Commission charged a former broker in Orlando, Fla., who defrauded investors in an astrology-based Ponzi scheme. The SEC alleges that Gurudeo “Buddy” Persaud lured family, friends, and others into investing in his firm, White Elephant Trading […]

  Thomas Brown Hammond (CRD #2389080, Registered Representative, Fair Oaks, California) was barred from association with any FINRA member in any capacity.  Hammond consented to the described sanction and to the entry of findings that he solicited both his brokerage firm customers and customers of his consulting business to invest funds in a fictitious private […]

FINRA announced Thursday that Bank of America Merrill Lynch was fined $2.8 million  for supervisory lapses that led to its overcharging customers $32 million for the past eight years. According to the Financial Industry Regulatory Authority Inc. (FINRA) and the Bank of America Corp., Merrill Lynch has repaid 95,000 customers who were charged unwarranted fees due to computer coding issues […]