According to FINRA, Haleh Farshi Farshi was barred from association with any FINRA member in all capacities for refusing to provide information and documents requested by FINRA in connection with its investigation.

FINRA initiated an investigation into circumstances surrounding a Form U5 filed by Farshi's member firm stating that it had terminated her after she informed the firm that she had pled guilty to a conspiracy to commit bank and wire fraud charge. When FINRA requested information and documents as part of its investigation, Farshi refused to comply with the request.

Pleading guilty to conspiracy to commit bank and wire fraud is an extremely serious criminal matter that raises significant concerns about an individual's fitness to work in the securities industry. FINRA's investigation was necessary to understand the full scope of the criminal conduct and determine appropriate regulatory action. By refusing to provide information and documents, Farshi obstructed FINRA's ability to protect investors and maintain industry integrity.

Federal bank and wire fraud statutes prohibit schemes to defraud financial institutions or obtain money through false pretenses using wire communications. Individuals convicted of such offenses demonstrate a willingness to engage in dishonest conduct that is fundamentally incompatible with the trust required in the broker-customer relationship. The combination of a guilty plea to serious financial crimes and refusal to cooperate with regulatory investigation warrants permanent removal from the industry.

Investors should use FINRA BrokerCheck to research their broker's background, including any criminal history or regulatory actions. A criminal conviction for fraud is a major red flag that should prompt immediate action to transfer accounts to another broker. The securities industry is built on trust, and individuals who commit fraud or refuse to cooperate with regulators have no place serving investors. A permanent bar protects the public from individuals who have demonstrated both criminal conduct and contempt for regulatory oversight.