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Articles Posted in rogue brokers

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Dallas, Texas-Based Wells Fargo Broker Expelled by FINRA

The Financial Industry Regulatory Authority (FINRA) has barred J. Gordon Cloutier, Jr. (Cloutier), a former Wells-Fargo (WFC) broker based in the Dallas area of Frisco, Texas, after he allegedly tried to make an unauthorized trade and requested a loan from a client.  Cloutier, who had worked at the firm for…

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FINRA Promises To Take Tougher Stance With Rogue Brokers

The Financial Industry Regulatory has barred Lawrence M. Thomas, an ex-Woodbury Financial Services Inc. broker who was under investigation for unauthorized product sales. Thomas was previously registered with Essex Securities. Last year, Thomas was fined $5K and suspended for three months after he consented to findings that he told an…

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Massachusetts Regulator Accuses Broker-Dealers of Not Properly Supervising Rogue Brokers

According to the Massachusetts Securities Division, brokerage firms that hire brokers with troubled disciplinary records are not doing a proper job of supervising them. The state, which recently released its findings from its examination of 241 broker-dealers who are registered in the state and retain an above average number of…

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