Between February 2016 and October 2019, Carroll violated FINRA Rules 2111, 2330,1122, and 2010 by recommending unsuitable variable annuity exchanges, which caused customers to incur surrender charges. For these and other violations, Carroll is suspended for 12 months and fined $10,000. Between February 2016 and December 2025, the firm’s supervisory system and written supervisory procedures were not reasonably designed to supervise certain exchanges and purchases of variable annuities.