Bruce Page Barber, of Colorado Springs, Colorado, a registered representative formerly associated with Securities America, Inc., has been 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 an investigation into accusations of his outside business activities. Letter of Acceptance, Waiver and Consent, No. 2017053346301 (Sept. 5, 2017).
According to the AWC, Securities America Inc. notified FINRA on February 22, 2017, that Barber was terminated based upon allegations that he solicited the firm’s customers to make purchases of products which the firm did not authorize. The firm additionally cited Barber for engaging in unapproved outside business activities.
The AWC revealed that FINRA launched an investigation following Barber’s termination, and requested on June 6, 2017, that Barber hand over information and documents to the Department of Enforcement pertaining to his advisory role with ABC, LLC directors. FINRA particularly sought information about Barber’s alleged solicitation of fifteen customers’ securities transactions away from Securities America, Inc., and the warrants provided to Barber as a result of his sales efforts.
The AWC reported that on June 23, 2017, Barber acknowledged FINRA’s request but stated that he would not provide the information and documentation to the regulator. FINRA concluded that Barber’s failure to cooperate constituted violations of FINRA Rules 2010 and 8210.
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