According to FINRA, Robert Henderson Jr. was fined $30,000 and suspended from association with any FINRA member in all capacities for 13 months for engaging in outside business activities without providing written notice to his member firm and for willfully failing to timely amend his Form U4 to disclose federal tax liens totaling $368,221. This decision was issued by the National Adjudicatory Council affirming an Office of Hearing Officers decision.

Henderson did not disclose all his outside business activities when he became associated with the firm and later formed an additional company while employed with the firm that he did not disclose. Henderson disclosed his activities in an amended Form U4 filing after an on-the-record interview with FINRA during which he was asked about his failure to disclose his outside business activities.

Additionally, Henderson willfully failed to timely amend his Form U4 to disclose federal tax liens totaling $368,221. As a result of Henderson's willful failure to disclose material information that was required to be stated on the Form U4, Henderson is statutorily disqualified.

The suspension was in effect from March 6, 2023, through April 8, 2024.

This case involves serious violations related to disclosure obligations. Henderson failed to disclose multiple outside business activities to his firm, which prevented the firm from evaluating potential conflicts of interest and ensuring appropriate supervision. Outside business activities can create situations where a registered person's obligations to customers or the firm conflict with their obligations to the outside business.

More seriously, Henderson willfully failed to disclose federal tax liens totaling over $368,000 on his Form U4. Tax liens are important disclosure items because they can indicate financial difficulties that may create incentives for misconduct. The willful nature of the failure means Henderson knew or should have known about his disclosure obligation and chose not to comply.

As a result of the willful failure to disclose, Henderson is now statutorily disqualified, which means he cannot associate with a FINRA member firm without special permission. Statutory disqualification is a serious consequence that can effectively end a securities career.