According to FINRA, Andrew Stephen Mogol was assessed a deferred fine of $5,000 and suspended from association with any FINRA member firm in all capacities for six months, effective January 20, 2026 through July 19, 2026, for initiating electronic transfers totaling approximately $85,000 from his personal bank account to his firm brokerage account while knowing that his bank account lacked sufficient funds to cover the transfers.FINRA found that Mogol made these transfers knowing there were insufficient funds in his bank account to support them. He then used the funds credited to his brokerage account—before the transfers were reversed due to insufficient funds—essentially floating an unauthorized short-term loan from his firm. When the transfers were reversed, Mogol deposited sufficient funds to cover the outstanding balances, so neither his bank nor his member firm ultimately incurred any financial losses.This type of conduct, sometimes called check-kiting or float manipulation, exploits the temporary credit provided during the electronic funds transfer process. Even when no ultimate financial loss results, deliberately initiating transfers known to be unsupported by sufficient funds undermines the integrity of the financial system and violates FINRA's standards requiring members to observe high commercial standards and just and equitable principles of trade.The deferred nature of the fine reflects FINRA's consideration of the fact that no parties ultimately suffered a financial loss, and that Mogol resolved the situation upon discovery. However, the six-month suspension signals that such conduct—even without lasting financial harm—is treated seriously by regulators because it involves intentional manipulation of the settlement system.For investors, this case is a reminder that the securities industry is built on trust and accurate dealing. Brokers who manipulate financial processes—even temporarily and without lasting harm—demonstrate a willingness to bend the rules in ways that investors should find concerning. Checking FINRA BrokerCheck before working with a registered representative can reveal any prior disciplinary history or concerning patterns of conduct.