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FINRA DISCIPLINARY ACTION

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FINRA disciplinary action has been taken against the following firms and individuals for violations of FINRA rules; federal securities laws, rules and regulations; and the rules of the Municipal Securities Rulemaking Board (MSRB).

FINRA disciplinary action – Procedures

FINRA disciplinary action is taken through two separate procedures: a settlement or a formal complaint. With a settlement, a firm or broker can opt to settle with FINRA and sign an Accept, Waiver and Consent form (AWC). A formal complaint is filed with and heard before FINRA’s Office of Hearing Officers. The office assigns to the case a professional hearing officer who is responsible for ensuring the complaint is resolved fairly and expeditiously. The case is heard by a three-person panel made up of the hearing officer and two industry panelists.

“FINRA disciplinary action and the FINRA misconduct disclosure process are essential to informing customers about potential problem brokers and supervision breakdowns at brokerage firms,” Attorney Mark Tepper who represents investors seeking recovery against stockbroker fraud said.

Firms Recently Disciplined by FINRA

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