Unlawful Reimbursement of Customer Losses – Boca Raton, Florida 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:
November 2015 Disciplinary and Other FINRA Actions:
Rushton Leigh Ardrey III (CRD #1598393, Newbury, Massachusetts) submitted an AWC in which he was suspended from association with any FINRA member in any capacity for 10 business days. In light of Ardrey’s financial status, no monetary sanction has been imposed. Without admitting or denying the findings, Ardrey consented to the sanction and to the entry of findings that without his member firm’s prior written authorization, he caused a wire of $33,000 to be sent from his personal bank account to that of a customer in order to reimburse the customer for losses sustained in her account.
The suspension was in effect from September 21, 2015, through October 2, 2015.(FINRA Case #2013039039501).
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