HOMAS STUDER (Villages, Florida) Barred By FINRA
Thomas Studer (CRD#: 6300308, The Villages, FL) is one of the latest securities brokers who the Financial Industry Regulatory Authority (“FINRA”) barred from the securities industry for attempts at thwarting a FINRA investigation. FINRA found Studer uncooperative when investigating his allegedly unauthorized activities.
On May 20, 2019, Studer – a Thrivent Investment Management Inc. broker from May 2014 to October 2018 – submitted a Letter of Acceptance, Waiver, and Consent (“AWC”) #: 2018060478101 to FINRA’s Office of Disciplinary Affairs, who accepted the AWC three days later. Crucially, FINRA found Studer in violation of Rule 8210. Here’s more on the disciplinary action which has practically ended Thomas Studer’s career in the securities industry:
Thrivent Tells FINRA That Thomas Studer Violated Policy And Caused Firm To Execute Unauthorized Transaction
Namely, FINRA says Thomas Studer violated FINRA Rule 8210 for failing to comply with FINRA requests while under investigation. FINRA says it was investigating a disclosure which Thrivent Investment Management made regarding Studer’s termination. Thrivent supposedly disaffiliated with Studer because he chose not to follow its rules governing power of attorney documentation. Because of Studer’s failure to follow instructions, according to Thrivent, the brokerage firm honored a transaction placed by a person not authorized on an account. It is possible an investor suffered harm because of Studer’s actions.
Thomas Studer Refuses To Comply With FINRA When Under Investigation
FINRA Department of Enforcement says that according to Rule 8210, it could “require” a member (e.g. Thomas Studer) to provide information and testify when under investigation. Securities brokers failing to cooperate with FINRA’s requests violate not only FINRA Rule 8210, but also Rule 2010. Here, on May 16, 2019, FINRA told Studer that it wanted him to testify about why Thrivent alleged he violated its policies. But when Studer responded, it was only to tell FINRA that he was not going to testify. Later, Studer executed the AWC, formally declaring that he refused to appear for sworn testimony mandated under Rule 8210. Therefore, Studer cannot associate with a FINRA member, under any circumstances, while barred.
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