Michael Ray Lancaster, a former stockbroker with Edward Jones in Lincoln, Nebraska, has been permanently barred by Financial Industry Regulatory Authority (FINRA). The disciplinary action resulted from Lancaster’s refusal to provide written information and documents requested by FINRA during an investigation into his termination. Letter of Acceptance, Waiver, and Consent (AWC) No. 2024081173101.
Edward Jones terminated Lancaster on January 4, 2024, alleging that he failed to follow the securities broker dealer’s complaints policy. Following the termination, FINRA made formal requests for documents on April 29, 2024, and May 23, 2024. Although Lancaster acknowledged receiving the requests, he refused to comply, as confirmed in calls with FINRA staff on May 29, 2024, and August 7, 2024.
FINRA concluded that Lancaster’s refusal violated FINRA Rule 8210, which requires individuals under its jurisdiction to provide requested information during investigations, and Rule 2010, which upholds standards of ethical business conduct. Without admitting or denying the findings, Lancaster agreed to the sanctions through a Letter of Acceptance, Waiver, and Consent (AWC). As a result, FINRA imposed a permanent bar effective October 9, 2024, prohibiting him from associating with any FINRA member firm in any capacity.
Lancaster was registered with Edward Jones from October 18, 2018, until February 2, 2024, and worked in Lincoln, Nebraska. Following this disciplinary action, he can no longer work in any role for FINRA-registered firms.
