Bad Brokers

According to FINRA, Joseph Gordon Nelson was permanently barred from association with any FINRA member firm in January 2026 pursuant to FINRA Rule 9552(h), for failure to provide information or keep information current as required by FINRA rules. The bar became effective January 20, 2026.FINRA's Rul...

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According to FINRA, Joseph Gordon Nelson was permanently barred from association with any FINRA member firm in January 2026 pursuant to FINRA Rule 9552(h), for failure to provide information or keep information current as required by FINRA rules. The bar became effective January 20, 2026.FINRA's Rule 9552(h) permanent bar provision exists to protect investors by removing from the securities industry individuals who fail to maintain the basic transparency required of all registered persons. The obligation to keep registration information current and to respond to FINRA's requests for information is a non-negotiable condition of operating in the securities industry. When individuals fail to meet this obligation and do not cure the deficiency after notice, FINRA's summary bar procedure ensures they cannot continue to operate under FINRA's regulatory umbrella.The specific circumstances of Nelson's information failure are not described in detail in the public disciplinary report. However, the permanent nature of the bar means Nelson is no longer permitted to associate with any FINRA member firm in any capacity. Investors who worked with Nelson should review their account records for any concerns and can check FINRA BrokerCheck for his complete regulatory history. Permanent bars issued under Rule 9552(h) reflect FINRA's determination that the individual's failure to cooperate with the regulator's basic oversight requirements warrants permanent exclusion from the industry to protect the investing public.

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According to FINRA, Andy O. Okala was permanently barred from association with any FINRA member firm in January 2026 pursuant to FINRA Rule 9552(h), for failure to provide information or keep information current as required by FINRA rules. The bar became effective January 26, 2026.FINRA Rule 9552(h)...

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According to FINRA, Andy O. Okala was permanently barred from association with any FINRA member firm in January 2026 pursuant to FINRA Rule 9552(h), for failure to provide information or keep information current as required by FINRA rules. The bar became effective January 26, 2026.FINRA Rule 9552(h) provides FINRA with authority to permanently bar individuals who fail to comply with their obligation to maintain current registration information or respond to regulatory information requests, and who do not cure the deficiency within the applicable cure period. All registered persons in the securities industry have an ongoing obligation to keep their registration information accurate and current, and to cooperate with FINRA's oversight requests. This transparency is essential to the integrity of FINRA's regulatory system and to the accuracy of public records accessible to investors through FINRA BrokerCheck.The specific circumstances underlying Okala's information failure are not described in detail in the public disciplinary report. The permanent bar means Okala may no longer associate with any FINRA member firm in any capacity. Investors who worked with Okala should review their account history for any concerns and can access his regulatory record through FINRA BrokerCheck. FINRA's ability to protect investors depends on the cooperation and transparency of all registered persons, and individuals who fail to maintain that transparency are subject to permanent removal from the industry.

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According to FINRA, Steven A. Pusterla was permanently barred from association with any FINRA member firm in January 2026 pursuant to FINRA Rule 9552(h), for failure to provide information or keep information current as required by FINRA rules. The bar became effective January 5, 2026.All registered...

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According to FINRA, Steven A. Pusterla was permanently barred from association with any FINRA member firm in January 2026 pursuant to FINRA Rule 9552(h), for failure to provide information or keep information current as required by FINRA rules. The bar became effective January 5, 2026.All registered persons and associated persons of FINRA member firms are required to maintain current registration information and to cooperate with FINRA's requests for information as a basic condition of operating in the regulated securities industry. FINRA Rule 9552(h) provides a mechanism for permanently barring individuals who fail to meet these requirements and do not cure the deficiency within the applicable period. A permanent bar is the most severe individual sanction available to FINRA and signals that the individual is no longer permitted to work in the securities industry in any capacity with a FINRA member firm.The specific circumstances of Pusterla's information failure are not detailed in the public disciplinary report. Investors who worked with Pusterla should review their account history for any concerns and can access his regulatory record through FINRA BrokerCheck. FINRA's registration transparency system protects investors by ensuring that the background of any registered person is publicly accessible. When individuals fail to maintain that transparency and refuse to remedy the deficiency, permanent removal from the industry is the appropriate investor protection response.

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According to FINRA, Michael Joseph Whitaker was permanently barred from association with any FINRA member firm in January 2026 pursuant to FINRA Rule 9552(h), for failure to provide information or keep information current as required by FINRA rules. The bar became effective January 26, 2026.FINRA Ru...

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According to FINRA, Michael Joseph Whitaker was permanently barred from association with any FINRA member firm in January 2026 pursuant to FINRA Rule 9552(h), for failure to provide information or keep information current as required by FINRA rules. The bar became effective January 26, 2026.FINRA Rule 9552(h) enables FINRA to permanently bar individuals from the securities industry when they fail to comply with requirements to provide information or maintain current registration disclosures and do not cure those deficiencies within the prescribed period. The requirement to keep registration information current and respond to regulatory inquiries is a foundational condition for operating within FINRA's regulatory framework. This system protects investors by ensuring that all registered persons remain subject to ongoing regulatory oversight and that accurate information about their background is publicly accessible through FINRA BrokerCheck.The specific circumstances of Whitaker's information failure are not described in detail in the public disciplinary report. The permanent bar means Whitaker may no longer associate with any FINRA member firm in any capacity. Investors who worked with Whitaker should review their account history for any concerns and can access his complete regulatory record through FINRA BrokerCheck. Investors are always encouraged to research a broker's regulatory history before opening an account or entrusting their savings to any registered professional.

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According to FINRA, Joshua Aaron Dean was suspended from association with any FINRA member firm in January 2026 pursuant to FINRA Rule 9552(d), for failure to provide information or keep information current as required by FINRA rules. The suspension became effective January 20, 2026.FINRA Rule 9552(...

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According to FINRA, Joshua Aaron Dean was suspended from association with any FINRA member firm in January 2026 pursuant to FINRA Rule 9552(d), for failure to provide information or keep information current as required by FINRA rules. The suspension became effective January 20, 2026.FINRA Rule 9552(d) provides a summary suspension mechanism for individuals who fail to comply with their obligation to maintain current registration information or respond to FINRA's information requests. Unlike a permanent bar, a suspension under Rule 9552(d) can be lifted if the individual cures the underlying deficiency within a specified timeframe. If the deficiency is not cured, the suspension can escalate to a permanent bar under Rule 9552(h).The specific circumstances underlying Dean's information failure are not detailed in the public disciplinary report. A suspension prevents Dean from associating with any FINRA member firm during the suspension period, which protects investors from exposure to an individual who has not met basic regulatory transparency requirements. Investors who worked with Dean should review their account history for any concerns and can check FINRA BrokerCheck for his complete regulatory record, including the status of this suspension. FINRA's ability to oversee the securities industry and protect investors depends on all registered persons maintaining current and accurate information and cooperating with regulatory requests.

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According to FINRA, Patrick Michael Roraff was suspended from association with any FINRA member firm in January 2026 pursuant to FINRA Rule 9552(d), for failure to provide information or keep information current as required by FINRA rules. The suspension became effective January 26, 2026.FINRA Rule ...

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According to FINRA, Patrick Michael Roraff was suspended from association with any FINRA member firm in January 2026 pursuant to FINRA Rule 9552(d), for failure to provide information or keep information current as required by FINRA rules. The suspension became effective January 26, 2026.FINRA Rule 9552(d) is a summary suspension mechanism used when registered persons fail to meet their ongoing obligations to provide information or maintain accurate registration disclosures. A suspension under this rule is distinct from a permanent bar—it can be lifted if the individual cures the underlying deficiency within the applicable timeframe. However, failure to remedy the situation can lead to a permanent bar under Rule 9552(h). The requirement to maintain current information is a bedrock obligation for all registered persons, enabling FINRA to monitor industry participants and allowing investors to rely on accurate public records through tools like FINRA BrokerCheck.The specific circumstances of Roraff's information failure are not described in detail in the public disciplinary report. His suspension prevents him from associating with any FINRA member firm for the duration of the suspension period. Investors who worked with Roraff should review their account history for any concerns and can check FINRA BrokerCheck for his regulatory record and suspension status. Investors should always verify a broker's current registration status before engaging their services, as suspended individuals are not permitted to conduct a securities business on behalf of a FINRA member firm.

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According to FINRA, Phillip Curtis Anderson was suspended from association with any FINRA member firm in January 2026 pursuant to FINRA Rule Series 9554, for failure to comply with a FINRA arbitration award or related settlement or an order of restitution. The suspension became effective January 15,...

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According to FINRA, Phillip Curtis Anderson was suspended from association with any FINRA member firm in January 2026 pursuant to FINRA Rule Series 9554, for failure to comply with a FINRA arbitration award or related settlement or an order of restitution. The suspension became effective January 15, 2026 (FINRA Arbitration Case #23-02039).FINRA's arbitration forum is a primary mechanism through which investors resolve disputes with broker-dealers and their registered representatives. When a FINRA arbitration panel issues an award—whether in favor of a customer or another party—the parties are generally obligated to comply with the award within specified timeframes. FINRA Rule Series 9554 provides FINRA with authority to suspend members and associated persons who fail to comply with arbitration awards, settlements, or restitution orders. The purpose of this rule is to enforce the integrity of the arbitration system and ensure that investors who win arbitration awards are actually able to collect what they are owed.The specific nature of the arbitration award or settlement at issue in this case is not detailed in the public disciplinary report. The suspension prevents Anderson from associating with any FINRA member firm for the duration of the suspension period, which can be lifted once he demonstrates compliance with the outstanding award or settlement obligation. Investors who had disputes involving Anderson that resulted in an arbitration award should consult FINRA for information on collecting the award. Anyone considering investing with or through Anderson should verify his regulatory status through FINRA BrokerCheck, as a suspended individual may not conduct a securities business on behalf of a FINRA member firm.

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