25-00303.pdf
Expungement Award
FINRA.org will undergo scheduled maintenance Sunday, Nov. 1, from 8 p.m. to Monday, Nov. 2, 4 a.m. ET, with a brief five-minute outage during this window.
20-00994(5).pdf
Notice of Appeal
20-00994(4).pdf
Order to Confirm
2023078794801 Donald Franklin Spivey CRD 847360 AWC lp (2025-1755735606779).pdf
In July 2025, Spivey refused to appear for on-the-record testimony requested by FINRA pursuant to FINRA Rule 8210, in violation of FINRA Rules 8210 and 2010.
24-01761.pdf
Award
Award 23-00567.pdf
Award
2023077014001 Integral Wealth Securities LLC fka Amera Securities LLC CRD 36143 AWC gg (2025-1755476394604).pdf
Between April 2021 and February 2025, Integral Wealth Securities failed to timely file
with FINRA offering documents related to 18 private placements, in violation of FINRA
Rules 5123 and 2010. For these violations, Integral Wealth Securities is censured and
fined $20,000.
2023079598001 Daniel Michael Roper CRD 6188279 AWC vr (2025-1755476394291).pdf
From October 2020 through January 2022, Roper engaged in various types of misconduct in connection with a profit-sharing agreement with a Schwab customer. Roper violated FINRA Rules 2150(c) and 2010 by directing the trades in the customer's account for a share of the customer's profits without receiving written authorization from Schwab or the customer.
Regulatory Notice 25-08
FINRA has adopted amendments to exempt business development companies (BDCs) from FINRA Rule 5130 (Restrictions on the Purchase and Sale of Initial Equity Public Offerings) and from paragraph (b) (Spinning) of FINRA Rule 5131 (New Issue Allocations and Distributions). The amendments maintain the integrity of the public offering process while facilitating vibrant capital markets by expanding access to initial public offerings (IPOs) through a highly regulated entity. The amendments will become effective on July 23, 2025.