Anida Venniro (also known as Enida Kerciku and Enida Venniro), of Farmington Hills, Michigan, a stockbroker formerly registered with LPL Financial LLC, has been fined $5,000.00 and suspended for one month from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Venniro engaged in an outside business activity without providing prior written notice to LPL Financial. Letter of Acceptance, Waiver, and Consent No. 2021070890701 (September 2020).
FINRA Rule 3270 requires that stockbrokers must inform their securities broker dealer in writing before engaging in any business activities outside of their primary job with the firm. This rule helps to ensure that securities broker dealers are aware of other activities in which registered represenatives may be involved to among other things prevent the sale of unapproved investments, any conducting undisclosed busniness with firm customers. If a stockbroker violates this rule, they also violate FINRA Rule 2010.
According to the AWC, Venniro violated FINRA rules by providing property management and commercial real estate services to two customers of LPL Financial from June 2014 to June 2020. She expected to receive compensation for these services but failed to inform her securities broker dealer in writing about this outside business activity. This lack of disclosure prevented the securities broker dealer from overseeing her activities. Therefore, she violated FINRA Rules 3270 and 2010.
Venniro was associated with Ameriprise Financial Services LLC in Farmington Hills, Michigan, from March 30, 2021, to June 25, 2024. Venniro was associated with LPL Financial LLC in Farmington Hills, Michigan, from December 16, 2010, to March 30, 2021.
