Kenneth Bostian Neuner, of Dallas, Texas, a stockbroker formerly registered with Summit Brokerage Services, Inc., has been permanently barred in all capacities from associating with any Financial Industry Regulatory Authority (FINRA) member by consenting to findings that he failed to cooperate in a FINRA investigation into his unauthorized trading in Summit customers’ investment accounts. Letter of Acceptance, Waiver and Consent, No. 2017053555601 (Oct. 11, 2017).
According to the AWC, on March 14, 2017, FINRA was notified from Summit Brokerage Services that Neuner was fired based upon allegations that he exercised discretion in customer accounts. FINRA followed up with an investigation into Neuner’s alleged wrongdoing, where on July 7, 2017, Neuner was asked by FINRA staff to provide recorded testimony regarding his trading activities.
Apparently, FINRA’s request was confirmed by Neuner to have been received; however, Neuner failed to make an appearance and testify on August 23, 2017. The AWC stated that on August 28, 2017, FINRA made another request for Neuner to make an appearance to testify on September 12, 2017. Neuner reportedly contacted FINRA staff on September 5, 2017, stating that he would not be cooperating. Neuner then confirmed on September 14, 2017, that he would not be participating in any manner within FINRA’s investigation. FINRA concluded that Neuner’s failure to cooperate was conduct violative of FINRA Rules 2010 and 8210.
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