The Financial Industry Regulatory Authority, also known as FINRA, has been enforcing all types of annuity transaction misdeeds nationwide according to recent enforcement reports from the agency, writes Elizabeth Festa in a recent article for LifeHealthPro.com. FINRA recently censured a firm and fined it $40,000 to settle allegations that the firm failed to maintain required […]

Alison Marie Janke (CRD #4409155, Registered Representative, Port Richey, Florida) was fined $7,500 and suspended from association with any FINRA member in any capacity for six months. Without admitting or denying the findings, Janke consented to the described sanctions. According to FINRA's findings, she borrowed $100,000 from a customer which was based upon a personal […]

 The following information is from FINRA’s website under “Disciplinary Actions, April, 2012:” E*Trade Capital Markets LLC (CRD #111528, Chicago, Illinois)  submitted a Letter of  Acceptance, Waiver and Consent in which the firm was censured, fined $45,000, required to pay $812.13, plus interest, in restitution to customers and to revise its WSPs regarding trade reporting. Without […]

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.   […]

Brookstone Securities, Inc. (CRD® #13366, Lakeland, Florida), David William Locy (CRD #4682865, Registered Principal, Overland Park, Kansas), Mark Mather Mercier (CRD #1884246, Registered Principal, Lutz, Florida) and Antony Lee Turbeville (CRD #1721014, Registered Principal, Lakeland, Florida) submitted Offers of Settlement in which the firm was censured and fined $200,000; Locy was fined $10,000 and suspended […]