Archie Abel Blood Jr. (also known as Bud Blood), of Holland, Michigan, a stockbroker registered with Cambridge Investment Research Inc., has been fined $5,000.00 and suspended for four months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Blood engaged in private securities transactions. Letter of Acceptance, Waiver, and Consent No. 2021071992801 (February 1, 2023).
According to the AWC, between June of 2020 and January of 2021, during the time that he was associated with Cambridge Investment Research, Blood introduced firm customers to an investment company concerning an offering. The Unit Purchase Agreement for the offering indicated that the investment was an unregistered security. Blood sent the customers the Unit Purchase Agreement and made sure that the funds to be invested were wired to complete the transaction. Blood did not seek permission from his firm for this activity, nor did he provide prior written notification. Blood also falsely attested that he did not advise, assist, or facilitate any private securities transactions. Therefore, Blood violated FINRA Rules 2010 and 3280.
Blood was associated with Cambridge Investment Research Inc. in Holland, Michigan, as a stockbroker from June of 2011 to November of 2021.