Bettye Clements Hays, of Mobile, Alabama, a stockbroker formerly registered with Principal Securities, Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that she failed to provide FINRA with information about her business activities. FINRA Case No. 2017053749201 (June 6, 2017).
FINRA Public Disclosure reveals that Hays has been identified in four customer initiated investment related disputes pertaining to allegations of her improper conduct during the time that she was associated with Principal Securities, Inc. Specifically, on April 20, 2017, a complaint involving Hays’ activities was settled for $74,500.00 in damages supported by allegations that Hays inappropriately took the customer’s money that was intended for a charitable organization investments, and promised the customer that a return on investment would be provided.
On September 14, 2017, three additional customer initiated investment related complaints were settled for a total of $582,825.37 in damages resting on accusations that customers provided Hays with funds to deliver to a charitable organization, where customers were misled into believing that a return on their investment would be provided.
Hays was fired from Principal Securities, Inc. on March 27, 2017, based upon her alleged misconduct as asserted by customers.
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