South Florida Broker/Dealer Negligent Supervision, Breach of Fiduciary, Selling Away and Unapproved Outside Business Activity FINRA Arbitration and Litigation Attorney:
The Financial Industry Regulatory Authority, Inc. (FINRA) is a self-regulatory authority assigned the responsibility, by the Securities and Exchange Commission, to license, regulate and discipline securities broker/dealers and their employees, including account executives. In the event that FINRA elects to institute an enforcement action, firms and licensed individuals have the responsibility to reflect such action on their U-4 and/or U-5 filings, which can be viewed on the FINRA website under the broker-check section of the site or by viewing the monthly disciplinary information also provided on the FINRA site.
The monthly disciplinary information is referenced on the FINRA site generally in alphabetical order. This post relates to the following company or individuals. If the reader would like to review the entire FINRA release or the broker-check information concerning this matter, you can follow these highlighted links:
January 2014 Disciplinary and Other FINRA Actions:
Harry Shaw Hammond (CRD #2261856, Registered Principal, Sarasota, Florida) submitted a Letter of Acceptance, Wavier and Consent in which he was fined $10,000 and suspended from associations with any FINRA member in capacity for 12 months. The fine must be paid either immediately upon Hammond’s reassociation with a FINRA member firm following his suspension, or prior to the filing of any application or request for relief from any statutory disqualification, whichever is earlier. Without admitting or denying the findings, Hammond consented to the described sanctions and to the entry of findings that he participated in private securities transactions without his member firm’s approval by referring individuals and entities to invest with private investment company that purportedly specialized in private investment in public equity (PIPE) transactions. FINRA Case No. 2013035961601. To review the entire FINRA release relative to this matter, please follow one of the above referenced links.
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