Soreide Law Group obtained the following information on FINRA’s website under, “Disciplinary and Other FINRA Actions, December 2016.” Robert James Batchen (CRD #2106288, Wheeling, Illinois) was assessed a deferred fine of $15,000, and suspended by FINRA for five months for allegedly effecting discretionary trades in a client’s accounts. FINRA’s findings stated that although the client […]

Moloney Securities Co., Inc. (CRD #38535, Manchester, Missouri) was censured and fined $20,000 for allegedly allowing their representatives to recommend and sell non¬traditional ETFs to their clients. FINRA's report stated that Moloney Securities' Written Supervisory Procedures (WSPs) didn't address the sale or the supervision of non-traditional exchange traded funds (ETFs), and Moloney Securities did not […]

Infinex Investments, Inc. (CRD #35371, Meriden, Connecticut) was censured, fined $75,000 by FINRA, and ordered to pay $287,171.75 in restitution to it's clients. Infinex Investments, Inc., allegedly failed to review non-traditional exchange-traded funds (ETFs) at the same level that other new products offered for sale to their customers. FINRA's findings stated that Infinex Investments registered […]

The following information is from FINRA’s website under “Disciplinary and Other FINRA Actions, October, 2013.” Michael Eugene French (CRD #819126, Registered Supervisor, Essex, Vermont) was fined $25,000 and suspended from association with any FINRA member in any capacity for three months. Without admitting or denying the findings, French consented to the described sanctions and to […]

The following information is from FINRA’s website under “Disciplinary and Other FINRA Actions, October, 2013.” Michael Eugene French (CRD #819126, Registered Supervisor, Essex, Vermont) was fined $25,000 and suspended from association with any FINRA member in any capacity for three months. Without admitting or denying the findings, French consented to the described sanctions and to […]

Recently, Morgan Keegan entered into a settlement with FINRA for conduct surrounding non traditional etfs sold to retail customers. The following is information from FINRA's website. Morgan Keegan & Company, Inc. (CRD #4161, Memphis, Tennessee) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $365,000. The firm consented […]