Benjamin Joseph Rosamond, of Lake Mary, Florida, a stockbroker previously registered with Robinhood Financial LLC, was sanctioned by Financial Industry Regulatory Authority (FINRA) on January 14, 2025, for failing to disclose outside business activities while employed at Robinhood Financial LLC and Robinhood Securities LLC. Letter of Acceptance, Waiver, and Consent No. 2023078321201 (January 14, 2025).
According to the AWC, Rosamond engaged in an undisclosed outside business activity and private securities transactions without providing prior written notice to the securities broker dealer, resulting in a four-month suspension and a fine of $7,500. His suspension is effective from January 21, 2025, through May 20, 2025.
Rosamond served as an officer for an investment club organized as a limited liability company, facilitating securities transactions for accredited investors. Between October 2020 and July 2023, while employed at Robinhood, he executed over 400 trades amounting to approximately $500,000 in principal value through brokerage accounts at other member firms. These transactions were carried out without prior written notification to Robinhood, violating FINRA Rules 3270, 3280, and 2010.
FINRA Public Disclosure shows that prior to this regulatory action, Rosamond was discharged from Robinhood Financial LLC on June 6, 2023, after suspicions arose that he was engaged in an outside business activity with an entity called Wayout Future. The securities broker dealer stated that this activity had not been disclosed or approved.
He was associated with Robinhood Financial LLC and Robinhood Securities LLC from October 2020 until his termination in July 2023.
