News Releases & Statements

WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that a FINRA hearing panel has expelled John Carris Investments, LLC (JCI) and barred CEO George Carris from the securities industry for fraud and suitability violations. The panel found that JCI and George Carris recklessly sold shares of stock and promissory notes issued by JCI's parent company using misleading statements and by omitting material facts.

Washington, D.C. — The Financial Industry Regulatory Authority (FINRA) announced today that a hearing panel has expelled John Thomas Financial (JTF), of New York, NY, and barred its Chief Executive Officer, Anastasios "Tommy" Belesis, from the securities industry for violations in connection with the sale of America West Resources, Inc. (AWSR) common stock, including trading ahead of customers' orders, recordkeeping violations, violating just and equitable principles of trade, and for providing false testimony.

WASHINGTON — The Financial Industry Regulatory Authority (FINRA) today released its 2015 Regulatory and Examination Priorities Letter  highlighting significant risks and issues that, if not properly addressed, could adversely affect investors and m

Firm's President Fined and Suspended WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that it has ordered Monex Securities Inc. to pay $1,100,000 in disgorgement of commissions, plus interest, obtained by unregistered foreign individuals who sold securities on the firm's behalf. FINRA also fined Monex $175,000 for failing to register the foreign representatives and for related supervisory deficiencies over a period of two and a half years.

WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that it has censured and fined Pershing LLC $3 million for violating the Customer Protection Rule and for related supervisory failures. The Securities and Exchange Commission (SEC) rule creates requirements to protect customers' funds and securities from broker-dealer misuse and requires that assets be available for distribution in the event of the broker-dealer's insolvency.

WASHINGTON—The Financial Industry Regulatory Authority (FINRA) issued a new Investor Alert called E-Cigarette Stock Scams: New Smoking Technology Could Light Up Pump-and-Dump Fraud warning investors of aggressive promotions touting stocks that claim to capitalize on the e-cigarette and vaporizer, or "vape," market.

WASHINGTON — The Financial Industry Regulatory Authority (FINRA) today announced that it has signed an agreement with the Chicago Board Options Exchange® (CBOE®) and C2 Options Exchange (C2) to provide market surveillance, financial surveillance, examinations, investigations, and disciplinary services to CBOE and C2, in addition to other regulatory services. FINRA, the independent, non-governmental regulator for all securities firms doing business with the public in the United States, will begin to perform these services on January 1, 2015.

WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that it has permanently barred Jeffrey C. McClure from the securities industry for converting nearly $89,000 from an elderly customer's bank account while working for Wells Fargo Advisors, LLC and an affiliated bank in Chico, California. The affiliated bank has made the customer whole for her losses.

Firms Failed to Subject Over 200,000 New Accounts to Identity Verification WASHINGTON — The Financial Industry Regulatory Authority (FINRA) today announced that it has ordered two St. Louis-based broker-dealers under common control, Wells Fargo Advisors (WFA) and Wells Fargo Advisors Financial Network (WFAFN), to pay a joint fine of $1.5 million for anti-money laundering (AML) failures.

WASHINGTON — The Financial Industry Regulatory Authority (FINRA) issued a new Investor Alert called Physical Precious Metals: Tips to Avoid Tarnishing Your Portfolio. FINRA's new Alert warns investors of the risks involved with investing in physical precious metals such as silver, gold, palladium or platinum.