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/CRD 2853847 /Rhode Island
Kenneth Gerard Schaefer Suspended by FINRA Under Rule 9554 for Failure to Comply with Arbitration Award
Suspended under FINRA Rule 9554 for failure to comply with arbitration award
D. Allen Blankenship Accused of Unsuitable Mutual Fund Trading and Missing Breakpoints
" prevents firms from identifying unsuitable transactions and deprives customers of breakpoint discounts they would receive if purchases were properly combined.",
The complaint also alleges Blankenship caused his firm to maintain inaccurate books and records by mismarking mutual fund purchases as unsolicited when he actually solicited these investments. These are allegations in an unadjudicated complaint
and deliberately evading firm supervision."
Four Firms Sanctioned $2.6 Million for Fully Paid Securities Lending Violations
" when in fact the customers received no compensation at all.",
Grant Douglas Johnson Suspended Six Months for Undisclosed Private Securities Transactions
and suitability determinations.
Johnson’s failure to disclose his participation meant his firm could not evaluate the potential conflicts of interest created by his ownership stake in the management entity
or his entitlement to carried interest compensation. The firm also could not supervise his communications with investors or determine whether the investments were suitable for customers who participated.,
David Robert McDonnell Barred for Refusing to Cooperate with Investigation into Private Securities Transactions
and lack of suitability review.
Serving as trustee of a trust while working as a registered representative creates potential conflicts of interest and must be disclosed to the firm as an outside business activity. Firms need to know about such relationships to ensure proper supervision and identify potential conflicts.
McDonnell’s refusal to provide information prevented FINRA from investigating the circumstances of these alleged violations and determining whether investors were harmed. The refusal to cooperate obstructed FINRA’s ability to fulfill its investor protection mission.
This case illustrates that when firms terminate representatives for cause
Bentley Edward Blackmon Suspended for Participating in Undisclosed Private Securities Transaction
conflicts of interest arise that require firm oversight.,
Deutsche Bank Securities Fined $2 Million for Best Execution Violations
subjecting them to potentially lower fill rates.,