Articles Posted in FINRA Enforcement Actions 2011

FINRA Securities Arbitration Attorney, Russell L. Forkey, Esq. June, 2011: John Brady Benson Sr. (CRD #18588, Registered Representative, Minneapolis, Minnesota, formerly licensed with Morgan Stanley Smith Barney) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for 45 days.…

FINRA Arbitration Lawyer, Russell L. Forkey, Esq. June, 2011: Shanoa Adrianne Rose Akins (CRD #4552640, Associated Person, Sunrise, Florida) submitted a Letter of Acceptance, Waiver and Consent in which she was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, Akins consented to the described sanction and to…

Florida FINRA Arbitration Attorney, Russell L. Forkey, Esq. Recently, The Financial Industry Regulatory Authority Inc. (FINRA) created an online data base, which contains more information about its disciplinary actions. The new Disciplinary Actions Online database, provides access to FINRA complaints against firms and individual brokers, settlement agreements (known as Letters of Acceptance Waivers and Consent,…

FINRA Arbitration Lawyer, Russell L. Forkey, Esq. June, 2011: NFP Securities, Inc. (CRD #42046, Austin, Texas) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $50,000. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that it approved…

FINRA Arbitration Lawyer, Russell L. Forkey, Esq. June, 2011: Morgan Stanley & Co. Incorporated (CRD #8209, New York, New York) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $375,000. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of…

FINRA Arbitration Fraud, Mismanagement and Breach of Fiduciary Duty Attorney, Russell L. Forkey, Esq. August, 2011: Morgan Stanley & Co. Incorporated nka Morgan Stanley & Co. LLC (CRD #8209, New York, New York) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $575,000. Without admitting or denying the…

FINRA Unit Investment Trust Fraud and Misrepresentation Attorney, Russell L. Forkey, Esq. July, 2011: Morgan Stanley & Co. Incorporated (CRD #8209, New York, New York) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured, fined $100,000 and ordered to provide remediation to customers who purchased Unit Investment Trusts (UITs) and…

FINRA Arbitration Lawyer, Russell L. Forkey, Esq. June, 2011: Monex Securities, Inc. (CRD #30362, Houston, Texas) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $25,000. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that it failed…

FINRA Arbitration Attorney, Russell L. Forkey, Esq. June, 2011: Geoffrey Richards Securities Corp. (CRD #120007, Hypoluxo, Florida) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $25,000. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that it…

FINRA Arbitration Attorney, Russell L. Forkey, Esq. June, 2011: Canaccord Genuity, Inc. fka Canaccord Adams, Inc. (CRD #1020, Boston, Massachusetts) submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured, fined $22,500, required to review its supervisory system and procedures concerning research reports and the supervision of research analysts for compliance…