In February 2024, while associated with FBL, Hostert falsified a claim form. As a result, Hostert violated FINRA Rule 2010 and is suspended for four months in all capacities and fined $5,000.

From January 2021 through August 2024, Stephens violated MSRB Rule G-27 by failing to establish, maintain, and enforce a supervisory system, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with the provisions of MSRB Rule G-37(b) governing political contributions by firms and municipal finance professionals (MFPs). For this violation, Stephens is censured and fined $90,000.

From August 2019 to July 2024, PFS Investments failed to establish and maintain a system reasonably designed to supervise the application of sales charge waivers and fee rebates to which customers were entitled through rights of reinstatement offered by mutual fund companies. Consequently, customers paid $710,738.55 in excess sales charges and fees during the relevant period. Therefore, PFS Investments violated FINRA Rules 3110(a) and 2010.

From June 2019 to October 2023, Larsen exercised discretion without written authority in 14 brokerage accounts by effecting 165 trades. As a result, Larsen violated FINRA Rules 3260(b) and 2010 and is suspended for one month and fined $5,000...