South Florida Broker/Dealer and Account Executive Selling Away and Unregistered Promissory Note and Negligent Supervision FINRA Arbitration, Litigation and Probate Estate 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
Michael Andrew DeRosa (CRD #2491296, Registered Representative, Bethesda, Maryland) submitted a Letter of Acceptance, Wavier and Consent in which he was barred from association with any FINRA member in any capacity. Without admitting or denying the findings, DeRosa consented to the described sanction and to the entry of findings that he failed to appear and provide testimony regarding his involvement, if any, in a company’s offer and sale of promissory notes. The findings stated that DeRosa, through counsel, informed FINRA that he would not appear and provide on-the-record testimony. FINRA Case No. 2013035683401
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