Proving once again that it is always best for brokers to inform their firms about any outside business activities, whether it’s selling insurance or even running the office at a vet clinic, the Financial Industry Regulatory Authority sanctioned a former Thrivent representative for engaging in three undisclosed outside business activities.
Without admitting or denying the findings, Angela Marie Chatfield signed a FINRA letter of acceptance, waiver and consent Feb. 12 in which she agreed to a three-month suspension from associating with any FINRA member firm and pay a $5,000 fine. FINRA accepted the letter Friday.
Chatfield is no longer registered as a broker, according to FINRA’s BrokerCheck website.
“We believe the FINRA Letter of Acceptance, Waiver and Consent relating to the individual otherwise speaks for itself,” Thrivent said in a statement Tuesday.
Chatfield entered the securities industry in January 2016 when she became associated with Thrivent Investment Management as a non-registered fingerprint individual. In June 2016, she became registered with Thrivent as a general securities representative, according to FINRA.
From January 2016 through July 2017, Chatfield engaged in three outside business activities through which she was compensated for providing accounting and bookkeeping services, while serving as office manager and trustee, without providing prior written notice to Thrivent, according to the FINRA letter.
As the office manager for Deer Creek Animal Hospital, Chatfield provided bookkeeping, accounting, real estate management and/or personal management services to the hospital, its owner, “SH,” and related entities, according to FINRA. Chatfield also served as a director and treasurer for DCH, according to FINRA and a report on the Securities Exchange Commission website.