HomeLife InsuranceFINRA: Dealer Barred After Making an investment $2M With out Company’s Approval

FINRA: Dealer Barred After Making an investment $2M With out Company’s Approval

The Monetary Business Regulatory Authority barred an ex-broker who was once affiliated with Momentum Impartial Community after he participated in 19 non-public securities transactions involving promissory notes totaling $2 million between about February 2018 and August 2022 with out first getting his company’s approval.

Why it issues: Momentum is an associate of Hilltop Securities, a countrywide full-service RIA and municipal funding financial institution, headquartered in Dallas with workplaces around the U.S. Barring a dealer is the hardest sanction in FINRA’s arsenal.

What to understand: Momentum discharged Leslie D. Jackson in January 2023, after 31 years with the company, for violating company coverage, consistent with the FINRA letter of acceptance, waiver and consent he signed Sept. 14. A legal professional for FINRA signed the letter Tuesday.

Jackson additionally didn’t reveal that he won periodic bills from the issuers in quantities equivalent to a few% of each and every funding each and every yr, paid per thirty days, FINRA stated.

He additionally “falsely answered to questions on whether or not he had participated in non-public securities transactions on 3 compliance questionnaires between 2019 and 2022,” consistent with FINRA.



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