From January through December 2023, while associated with Pruco Securities, Carter recommended that two retail customers, a married couple, engage in options trading that was not in their best interest or suitable for them. As a result, Carter willfully violated Rule 15l-1(a)(1) of the Securities Exchange Act of 1934 and violated FINRA Rules 2360(b)(19)(A) and 2010.

From November 2023 to February 2025, Jean-Bart failed to timely respond to requests for information and documents issued pursuant to FINRA Rule 8210. As a result, Jean- Bart violated FINRA Rules 8210 and 2010 and is suspended for ten months and fined $5,000.

FINRA’s research rules provide important investor protections and foster trust in the capital formation process by requiring transparency of conflicts in research reports that may inform investment decisions. Between January 2007 through May 2025, Deutsche Bank violated multiple research report disclosure requirements, impacting approximately 110,000 debt and equity research reports, in violation of FINRA Rules 2241 and 2242 and predecessor NASD rules.

Between October 2019 and December 2020, Oakwood Capital Securities, while under previous management, failed to establish and maintain a supervisory system, including written supervisory procedures, reasonably designed to surveil rates of deferred variable annuity exchanges. Accordingly, Oakwood violated FINRA Rules 3110, 2330(d), and 2010. For these violations, Oakwood is censured and fined $20,000.

Between September and October 2023, while associated with LPL, Buchholz effected 11 unauthorized transactions totaling more than $590,000 in the accounts of four customers, the adult daughters (the Customers) of a deceased senior customer. The transactions generated more than $16,000 in commissions. By this conduct, Buchholz effected unauthorized transactions in violation of FINRA Rule 2010 and is suspended for one month, fined $7,500, and ordered to disgorge $7,480 plus interest.