The Financial Industry Regulatory Authority last week provided another reminder to brokers that ignoring its information requests or lying to it during an investigation can lead to them being booted from the industry as it barred ex-reps of JPMorgan Securities and TGP Securities.
First, without admitting or denying FINRA’s findings that included a claim she didn’t cooperate with an investigation, former JPMorgan rep Forouzan Pooladi submitted a letter of acceptance, waiver and consent to FINRA July 30 in which she agreed to FINRA’s sanction. FINRA accepted the letter Wednesday.
JPMorgan and Pooladi didn’t immediately respond to requests for comment Monday.
Pooladi was registered with FINRA through JPMorgan as an investment company shares and variable contracts representative starting in May 2016, according to FINRA.
The firm filed a Form U5 on Oct. 4, 2019, saying she was “terminated for violating affiliate bank policy governing personal finances by conducting numerous transactions under the currency transaction reporting threshold; and for performing an affiliate bank transaction between a business customer and husband’s personal affiliate bank account,” according to the AWC letter.
Second FINRA Action
Without admitting or denying FINRA’s findings that included a claim he provided false written statements and testimony, former broker Andrew M. Arthur submitted a letter of acceptance, waiver and consent to FINRA Aug. 9 in which he agreed to FINRA’s sanction. FINRA accepted the letter Thursday.