Wray Rodgers of Memphis, Tennessee, a stockbroker registered with Vining Sparks IBG LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Rodgers failed to testify when FINRA investigated the stockbroker for possible violations of FINRA rules. Letter of Acceptance, Waiver, and Consent No. 2023078315401 (June 7, 2023).
Vining-Sparks submitted a Form U5 on May 20, 2022, informing FINRA that Rodgers left the firm voluntarily. On May 5, 2023, the regulator asked Rodgers to testify before FINRA personnel under FINRA Rule 8210. FINRA made this request while investigating if Rodgers conducted business outside of his securities broker dealer without informing it and if he misused funds belonging to customers. Rodgers, through his lawyer’s email on May 11, 2023, confirmed that he received FINRA’s request but refused to testify. FINRA found that Rodgers violated Rules 2010 and 8210 because of his refusal to cooperate in the investigation.
Public Disclosure shows that Rodgers is also referenced in a customer initiated investment related FINRA securities arbitration claim that was settled for $105,000.00 in damages based upon allegations that Rodgers made omissions of material fact regarding the risks of FHLMC and FNMA shares when Rodgers was registered with Vining Sparks IBG LLC. FINRA Arbitration No. 11-03129 (August 19, 2013).
Rodgers was registered with Vining Sparks IBG LLC as a stockbroker between February 18, 1997, and May 20, 2022.
