In October 2025, Berg made a payment of $14,394 to settle a complaint made by a firm customer without the knowledge or approval of his firm. As a result, he violated FINRA Rule 2010 and is suspended in all capacities for 15 business days and fined $2,500.

Since 2022, Revere has underwritten or served as a selling group member in approximately 60 small-cap initial public offerings (IPOs), more than 40 of which involved issuers based in Hong Kong or China. Some offerings had hallmarks of potential manipulation, such as concentrated allocations to few accounts, coordinated trading, and post-IPO price spikes and collapses that produced millions in secondary market losses.

The Department of Enforcement alleges: Respondent Andrew Paul Schneider failed to respond to two FINRA staff requests to provide information and documents made pursuant to FINRA Rule 8210 as part of FINRA staff’s investigation into possible misconduct by Schneider in connection with an outside business activity. As a result, Schneider violated FINRA Rules 8210 and 2010.