FINRA Bars Broker for Refusal to Provide Documents

FINRA barred a broker for refusing to provide documents requested during an investigation into undisclosed outside investments and trading accounts.

According to the AWC, the broker acknowledged receiving FINRA’s request for information but stated that he would not produce the requested materials. FINRA said the inquiry originated from a regulatory tip regarding the broker’s potential failure to disclose certain outside accounts and investments, including investments in purported crypto asset mining companies.

FINRA found that the broker's refusal to provide the information violated FINRA Rules 8210 ("Provision of Information and Testimony and Inspection and Copying of Books") and 2010 ("Standards of Commercial Honor and Principles of Trade").

To settle the charges, the broker agreed to a bar from associating with any FINRA member in all capacities.