Brett Alexander Ashy of Jackson Mississippi is a registered representative formerly employed with MWA Financial Services Inc. who has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any and all capacities based upon consenting to findings that he failed to cooperate with FINRA in an investigation into allegations of Ashy’s unauthorized trading in a customer’s account. Letter of Acceptance Waiver and Consent No. 2017053798601 (Feb. 7 2018).
According to the AWC, on January 19, 2018, FINRA requested that Ashy provide recorded testimony in regard to unauthorized trades that he allegedly executed in a customer’s account which led the customer to file a complaint. The AWC stated that Ashy’s counsel communicated with FINRA on January 26, 2018, stating that Ashy understood what FINRA asked of him but would not be making an appearance to testify at any point in time. FINRA found Ashy’s failure to cooperate in the investigation to be violative of FINRA Rules 2010 and 8210.
This is not the first time that Ashy has been subject of a FINRA disciplinary action in reference to his misconduct. Particularly, on July 22, 2016, Ashy was fined $5,000.00 and suspended from associating with any FINRA member in any capacity based upon his consent to findings that while employed with NY Life Securities, he improperly completed and signed and dated customers’ variable annuity applications and furnished those applications to his firm for processing. Letter of Acceptance, Waiver and Consent, No. 2014042781901 (July 22, 2016). Ashy’s conduct was found by FINRA to be violative of FINRA Rule 2010.
Ashy was fired by MWA Financial Services on February 29, 2016, based upon Ashy having been sanctioned by Minnesota Department of Commerce. Particularly, Ashy was fined $1,000.00 and subject of the revocation of his securities registration and insurance producer license by Minnesota Department of Commerce according to an Order containing findings that Ashy failed to make an appearance before the Department of Commerce in regard to his termination from NY Life Securities.
FINRA Public Disclosure reveals that on January 29, 2015, a customer initiated investment related complaint was settled for $21,190.38 in damages founded on allegations that customers’ variable annuity applications submitted by Ashy contained unauthentic customer signatures.
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