FINRA Bars Broker For Insider Trading

FINRA AWC Letter No. 20110259827-01

May 2, 2011

FINRA announced that it has barred a former representative of an Illinois-based broker-dealer for engaging in insider trading and failing to truthfully respond to questioning by FINRA investigators. The action alleges that the representative knowingly traded on the basis of insider information, and then falsely testified to FINRA that he did not know anyone currently or formerly employed at the company in whose shares he traded.

Cross References

FINRA News Release

FINRA Rules 2010, 2020, 8210

Exchange Act Rule 10b-5

Exchange Act § 10(b)