Articles Posted in FINRA Membership Suspended

Toby Blackwood, a registered representative formerly with PFS Investments in Oklahoma was suspended from FINRA membership for violations of Rule 9552

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

provides if a member, person associated with a member or person subject to FINRA’s jurisdiction fails to provide any information, report, material, data, or testimony requested or required to be filed pursuant to the FINRA By-Laws or FINRA rules, or fails to keep its membership application or supporting documents current, FINRA staff may provide written notice to such member or person specifying the nature of the failure and stating that the failure to take corrective action within 21 days after service of the notice will result in suspension of membership or of association of the person with any member. In January, 2016 Toby Blackwood was suspended from FINRA membership for violating Rule 9552.

Keith Bettex, a registered representative formerly with Pruco Securities in Raleigh, NC was suspended from FINRA membership for violations of Rule 9552

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

provides if a member, person associated with a member or person subject to FINRA’s jurisdiction fails to provide any information, report, material, data, or testimony requested or required to be filed pursuant to the FINRA By-Laws or FINRA rules, or fails to keep its membership application or supporting documents current, FINRA staff may provide written notice to such member or person specifying the nature of the failure and stating that the failure to take corrective action within 21 days after service of the notice will result in suspension of membership or of association of the person with any member. In January, 2016 Keith Bettex was suspended from FINRA membership for violating Rule 9552.

Tatyana Andreyeva, a registered representative formerly with Wetspark Capital, Fordham Financial and John Carris Investments was suspended from FINRA membership for violations of Rule 9554

FINRA Rule 9554. Failure to Comply with an Arbitration Award or Related Settlement or an Order of Restitution or Settlement Providing for Restitution

provides that a registered representative or a firm that fails to comply with a FINRA arbitration award or a settlement agreement entered into as a result of a FINRA arbitration or mediation proceeding, shall have their license suspended 21 days after notice of the intent to suspend has been sent. In December, 2015 Tatyana Andreyeva was suspended from FINRA membership for violating Rule 9554.

Gene Smietana, a registered representative formerly with LPL Financial in Traverse City, MI was suspended from FINRA membership for violations of Rule 9552

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

provides if a member, person associated with a member or person subject to FINRA’s jurisdiction fails to provide any information, report, material, data, or testimony requested or required to be filed pursuant to the FINRA By-Laws or FINRA rules, or fails to keep its membership application or supporting documents current, FINRA staff may provide written notice to such member or person specifying the nature of the failure and stating that the failure to take corrective action within 21 days after service of the notice will result in suspension of membership or of association of the person with any member. In December, 2015 Gene Smietana was suspended from FINRA membership for violating Rule 9552.

Andreas Kentrotas, a registered representative formerly with Morgan Stanley in Manhasset, NY was suspended from FINRA membership for violations of Rule 9552

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

provides if a member, person associated with a member or person subject to FINRA’s jurisdiction fails to provide any information, report, material, data, or testimony requested or required to be filed pursuant to the FINRA By-Laws or FINRA rules, or fails to keep its membership application or supporting documents current, FINRA staff may provide written notice to such member or person specifying the nature of the failure and stating that the failure to take corrective action within 21 days after service of the notice will result in suspension of membership or of association of the person with any member. In December, 2015 Andreas Kentrotas was suspended from FINRA membership for violating Rule 9552.

In November, 2015, the Financial Industry Regulatory Authority (“FINRA”) announced that registered representative Matt Schomburg of Houston, Texas and formerly associated with State Frm VP Management submitted a letter of Acceptance, Waiver and Consent in which he was assessed a deferred fine of $15,000 and suspended from association with any FINRA member in any capacity for six months. Without admitting or denying the findings, Schomburg consented to the sanctions and to the entry of findings that he engaged in private securities transactions without first providing prior written notice to his member firm.

The findings stated that Matt Schomburg made personal investments totaling approximately $12,500 in a limited liability company formed for the purpose of investing in a medical appliance enterprise and in a Texas-based bank. Schomburg failed to give the requisite notice to the firm until he disclosed the investments to his securities supervisor during the course of his annual branch audit.

The findings also stated that Matt Schomburg engaged in outside business activities without providing prior and/or prompt written notice to the firm. Schomburg did not update his outside business activity disclosures to reflect the company or request approval to engage in any outside business activities with the company until he disclosed the company’s existence and name change to his securities supervisor during the course of his annual branch audit.

Eddie Sitton, a registered representative formerly with several broker dealers in Scottdale and Tempe was suspended from FINRA membership for violations of Rule 9554

FINRA Rule 9554. Failure to Comply with an Arbitration Award or Related Settlement or an Order of Restitution or Settlement Providing for Restitution

provides that a registered representative or a firm that fails to comply with a FINRA arbitration award or a settlement agreement entered into as a result of a FINRA arbitration or mediation proceeding, shall have their license suspended 21 days after notice of the intent to suspend has been sent. In September, 2015 Eddie Sitton was suspended from FINRA membership for violating Rule 9554.

Tiffany Peacock Asakawa, a registered representative formerly with Merrill Lynch in Kailua Kona, HI was suspended from FINRA membership for violations of Rule 9554

FINRA Rule 9554. Failure to Comply with an Arbitration Award or Related Settlement or an Order of Restitution or Settlement Providing for Restitution

provides that a registered representative or a firm that fails to comply with a FINRA arbitration award or a settlement agreement entered into as a result of a FINRA arbitration or mediation proceeding, shall have their license suspended 21 days after notice of the intent to suspend has been sent. In September, 2015 Tiffany Peacock was suspended from FINRA membership for violating Rule 9554.

Aviv Hen, a registered representative formerly with Obsidian Financial Group in Woodbury, NY was suspended from FINRA membership for violations of Rule 9554

FINRA Rule 9554. Failure to Comply with an Arbitration Award or Related Settlement or an Order of Restitution or Settlement Providing for Restitution

provides that a registered representative or a firm that fails to comply with a FINRA arbitration award or a settlement agreement entered into as a result of a FINRA arbitration or mediation proceeding, shall have their license suspended 21 days after notice of the intent to suspend has been sent. In September, 2015 Aviv Hen was suspended from FINRA membership for violating Rule 9554.

Stephen DeGroat, a registered representative formerly with Matrix Capital in New York, NY was suspended from FINRA membership for violations of Rule 9554

FINRA Rule 9554. Failure to Comply with an Arbitration Award or Related Settlement or an Order of Restitution or Settlement Providing for Restitution

provides that a registered representative or a firm that fails to comply with a FINRA arbitration award or a settlement agreement entered into as a result of a FINRA arbitration or mediation proceeding, shall have their license suspended 21 days after notice of the intent to suspend has been sent. In September, 2015 Stephen DeGroat was suspended from FINRA membership for violating Rule 9554.