Tag Archives: FINRA Rule 2010

Citigroup Global Fined $2 Million for Failure to Supervise

May 03, 2012  |   Posted by :   |   Failure To Supervise, Investment and Regulatory News   |   0 Comments

Citigroup Global Markets Inc. has been fined $2 million by the Financial Industry Regulatory Authority (FINRA) for failure to supervise and for making unsuitable recommendations in connection with the sale of complex financial products known as non-traditional exchange-traded funds. The firm submitted a Letter of Acceptance, Waiver and Consent (AWC) to settle a FINRA disciplinary […]

Read More »

AXA Advisors Fined $50K for Failure to Supervise Thieving Broker

April 19, 2012  |   Posted by :   |   Failure To Supervise, Investment and Regulatory News   |   0 Comments

AXA Advisors LLC has been fined $50,000 by the Financial Industry Regulatory Authority (FINRA) and censured for its failure to supervise a broker who misappropriated $122,000 from the money market account of a customer, 70 percent of the account’s value. Letter of Acceptance Waiver and Consent The firm submitted a Letter of Acceptance Waiver and […]

Read More »

Former MetLife Securities Broker Barred For Misappropriation

Roland Craig Matatics, a former broker with MetLife Securities Inc. in Keene, N.H., has been permanently barred from the financial industry for misappropriating $10,000 from a customer suffering from dementia. Roland Craig Matatics Submits an AWC The money was later returned and Matatics submitted a Letter of Acceptance, Waiver and ConsentĀ (AWC) to settle an action […]

Read More »

Broker Sanctioned for Selling Securities without Firm’s Permission or Proper License

Jimmy Wayne Freeman, a broker with Texas-based PlanMember Securities Corp., was ordered by the Texas Securities Board to pay more than $500,000 in restitution to investors after he sold them securities issued by an outside firm without his firm’s permission and without holding the appropriate securities license. Freeman was also suspended for 12 months from […]

Read More »

Principal of Cantone Research Fined & Suspended for Failure to Supervise

The Financial Industry Regulatory Authority (FINRA) has sanctioned Christine L. Cantone and her firm for their failure to supervise a broker who sold fictitious investments to customers through which he misappropriated over $1.6 million. Cantone & Cantone Research Inc. Censored & Fined Pursuant to an FINRA order dated Feb. 22 that accepted an offer of […]

Read More »

Former Edward Jones Administrator Permanently Barred for Misappropriation of Funds

A former Edward Jones administrator has been permanently barred from the financial industry after misappropriating a total of $63,000 from 21 customers. According to a default decision issued by the Financial Industry Regulatory Authority (FINRA) on Feb. 15, Carolyn Avia Harmon misappropriated $63,000 in customer funds between November 2006 and September 2009. She also failed […]

Read More »