Norman Kirby Farra, Junior, of Tampa, Florida, a stockbroker formerly registered with International Assets Advisory, LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in a FINRA investigation into allegations of his involvement in undisclosed private securities transactions and outside business activities. Letter of Acceptance, Waiver and Consent, No. 2017053368201 (Mar. 24, 2017).
According to the AWC, on January 20, 2017, Farra was sent a letter from FINRA, based on Rule 8210, in which Farra was asked to provide FINRA with information and documentation in reference to allegations of Farra’s involvement in private securities transactions and outside business activities that had not been disclosed to International Assets Advisory LLC. The AWC stated that Farra did not provide FINRA with a response by a February 3, 2017 deadline, prompting FINRA to submit another request to Farra on February 8, 2017. Apparently, FINRA never received a response from Farra. Consequently, FINRA found that Farra’s failure to cooperate in the investigation was conduct violative of FINRA Rules 2010 and 8210.
FINRA Public Disclosure reveals that on June 28, 1998, a customer was awarded $116,000.00 in damages according to an investment related arbitration claim involving Farra’s misconduct, based upon allegations that Farra breached his contractual duties to the customer, negligently handled the customer’s investment account, and made misrepresentations and omissions to the customer in order to induce the customer’s penny stock transactions.
Farra’s registration with International Assets Advisory, LLC was terminated on November 15, 2016. Since April 4, 1991, Farra has been associated with ten different broker dealers, seven of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct. #cockroach
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