On August 12, 2020, Morgan Stanley and FINRA entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) over allegations that it failed to reasonably supervise its former broker Kevin Gunnip. As part of the AWC, Morgan Stanley agreed to pay a $175,000 fine and was censured by FINRA. It…
FINRA has suspended Frank Venturelli from the securities industry for 11 months. Frank Venturelli was a financial advisor and registered representative at the following firms: Arive Capital Markets, Bay Ridge, NY (September 2019 to December 2019); and First Standard Financial Company LLC, Red Bank, NJ (November 2014 to September 2019).…
FINRA has permanently barred Jeffrey A. Broten from the securities industry. Jeffrey Broten was a financial advisor and registered representative at the following firms: Newbridge Securities Corporation (affiliated with Black River Wealth Management LTD), Morristown, NJ (August 2019 to December 2019); First Standard Financial Company LLC, Red Bank, NJ (February…
The Financial Industry Regulatory Authority (FINRA) has postponed in-person arbitration hearings and mediations through January 1, 2021. The latest FINRA administrative postponement follows the health crisis’ evolving nature and affects all active cases scheduled for a hearing before a FINRA arbitration panel through that date. In response, customers have sought…