FINRA Sanctions Financial Advisors Over Allegedly Selling Away $8M in Promissory Notes

FINRA has suspended former Columbia Capital Securities brokers Josiah Jennings and William Pugh for 10 months after they allegedly sold $8 million in unapproved private equity promissory notes involving undisclosed conflicts of interest. The law firm Shepherd Smith Edwards and Kantas is offering free case consultations to help affected investors explore legal claims against the brokerage firm for failed supervision and selling away.

The Financial Industry Regulatory Authority (FINRA) has suspended two former Columbia Capital Securities financial advisors for 10 months for allegedly improperly selling $8 million in promissory notes from a private equity fund in which they purportedly had conflicts of interest. Josiah D. Jennings and William N. Pugh, who were allowed to resign from the broker-dealer, remain registered investment advisers with Vela Consulting.