Securities Arbitration Investment Fraud Lawyers » Investment and Regulatory News » FINRA Bars Emerging Growth Stockbroker For Failure To Comply

Sign of the Financial Industry Regulatory Authority

Robert Anthony Powers of Bryn Mawr Pennsylvania a stockbroker formerly registered with Emerging Growth Equities Ltd. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that he did not provide information to FINRA upon request. Case No. 2018060604701 (June 17, 2019).

According to the regulator, the stockbroker was asked for information in 2019. Powers failed to cooperate which resulted in him being issued a Notice of Suspension letter from FINRA on March 12, 2019 and a Suspension from Association letter on April 5, 2019. Powers was provided by FINRA with three months to seek the termination of his suspension but he failed to comply with FINRA by the June 16, 2019 deadline.

This is not the first time that Powers has been sanctioned by the regulator. On September 8, 2015, he was fined and suspended for two months from associating with any FINRA member in any capacity supported by findings that he concealed liens and judgements that were entered against him while he was registered with Emerging Growth Equities. Letter of Acceptance Waiver and Consent No. Case No. 2014041244002 (Aug. 6, 2015).

FINRA Public Disclosure additionally confirms that a customer filed an investment related complaint involving Powers’ conduct in which the customer requested $250,000.00 in damages based upon allegations that unauthorized over-the-counter equities trades were executed in the customer’s account while Powers was registered with Emerging Growth Equities.

Powers’ registration with Emerging Growth Equities has been terminated as of November 20, 2018.