According to FINRA, Robert William Fort of Dallas, Texas was fined $5,000 and suspended from association with any FINRA member in all capacities for one month for failing to timely amend his Form U4 to disclose a felony charge.

After being arrested for a non-financial-related criminal offense, Fort disclosed the arrest to his member firm and told the firm he anticipated that his arrest would result in a felony charge. When he was subsequently indicted and charged with a felony, Fort failed to notify the firm and failed to amend his Form U4 as required.

Eight months later, the firm discovered the felony charge during a routine background recheck. Fort's Form U4 was then amended to disclose the charge.

Form U4 requires disclosure of certain criminal charges within 30 days. This requirement ensures that firms and regulators have current information about registered persons and can evaluate whether the conduct affects the person's fitness to work in the securities industry.

Even for non-financial criminal matters, disclosure is required because it allows for appropriate oversight and ensures customers and firms can make informed decisions. The disclosure requirement applies to charges, not just convictions, because the existence of pending charges is relevant information.

Fort's failure to disclose for eight months deprived his firm and its customers of this information during that period.

The suspension was in effect from June 2 through July 1, 2025.

For investors, all disclosed regulatory events and criminal charges are available through FINRA BrokerCheck. Reviewing this information before working with a broker can help you make informed decisions about whom you trust with your investments.