Raymond Ellis Jennison of Dallas, Texas, the former Chief Executive Officer of First Canterbury Securities Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Jennison failed to testify when FINRA investigated Jennison and the firm for possible violations of FINRA rules. FINRA Enforcement (AWC) No. 2020065342802 (Sept. 16, 2022).
According to the AWC, Jennison was associated with First Canterbury Securities Inc., up until March 2021. At that time, Jennison’s registration was terminated as a result of the cancellation of Canterbury’s FINRA membership. FINRA began an investigation into Jennison in 2022 when he was sent a request by FINRA on May 18, 2022, to appear for testimony. In a phone call with FINRA staff, Jennison indicated that he received FINRA’s request but would not appear for recorded testimony at any time. Jennison violated FINRA Rules 2010 and 8210 as a result. Rule 8210 requires that FINRA “members, associated persons and persons subject to FINRA’s jurisdiction to provide FINRA staff and adjudicators with requested books, records and accounts. In specifying the books, records and accounts “of such member or person,” paragraph (a) of the rule refers to books, records and accounts that the broker-dealer or its associated persons make or keep relating to its operation as a broker-dealer or relating to the person’s association with the member.”
This is not the first time that Jennison has been the subject of a regulatory action concerning his conduct in the securities industry. FINRA Public Disclosure shows that Jennison has been censured by NASD based upon allegations that Jennison engaged in unauthorized activities. Case No. C06980010 (Aug. 4, 1998).
On May 26, 2011, Jennison was fined $7,500.00 based upon allegations that Jennison failed to prepare an annual report concerning supervision. Case No. 2009016267601.
FINRA Public Disclosure shows that Jennison is referenced in customer initiated investment related disputes concerning Jennison’s conduct while associated with securities broker dealers, including First Canterbury Securities Inc. On October 24, 2006, a customer initiated investment related FINRA securities arbitration claim involving Jennison’s conduct in which Jennison and First Canterbury Securities Inc. were held liable on the customer’s claims of unauthorized trading. FINRA Arbitration No. 06-03648.
On March 19, 2008, a customer initiated investment related FINRA securities arbitration claim involving Jennison’s conduct was settled for $40,000.00 in damages based upon allegations that Jennison failed to supervise in connection with the recommendation and sale of mutual funds when Jennison was associated with First Canterbury Securities Inc. FINRA Arbitration No. 08-00684.
Raymond Jennison was associated with First Canterbury Securities Inc. from December 6, 1983 to March 24, 2021.
