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 allegations that Powers failed to provide information to FINRA in response to its request. Case No. 2018060604701 (June 17, 2019).
FINRA Public Disclosure indicates that Powers was asked for information by FINRA in 2019. The stockbroker’s failure to comply resulted in him being named in Notice of Suspension on March 12, 2019 and Suspension from Association letter on April 5, 2019. He was informed by FINRA that he could request the termination of its suspension on the grounds of his cooperation with its requests. Powers did not cooperate with the regulator by the June 16, 2019 deadline.
This is not the first time that Powers has been sanctioned by FINRA. He has been fined $5,000.00 and suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Powers failed to report that he was the subject of civil lawsuits where judgements had been entered against him. Powers’ registration was revoked between November 2, 2015 and December 13, 2017 for neglecting to pay the fine imposed by FINRA.
FINRA Public Disclosure also reveals that a customer filed an investment related complaint involving Powers’ conduct in which the customer requested $250,000.00 in damages supported by accusations that unauthorized over-the-counter equities trades were effected in the customer’s account during the time that Powers was associated with Emerging Growth Equities.
Powers’ registration with Emerging Growth Equities was terminated on November 20, 2018.