FINRA Podcast: July Quarterly Disciplinary Review

FINRA published its Quarterly Disciplinary Review Podcast, which reviews specific FINRA rule violations by registered representatives. The podcast discusses cases highlighting the following specific conduct that led to disciplinary action:

• recommending unsuitable securities - specifically, a registered representative recommended short exchange-traded funds ("ETFs") to customers when he did not understand short ETFs well enough to form a "reasonable basis for recommending them";
• failing to provide notice of outside business activities;
• making unauthorized trades in customers' accounts - specifically, a registered representative made close to 30 transactions in 13 customers' accounts during a one-month period;
• refusing to provide on-the-record testimony to FINRA; and
• failing to disclose two outstanding judgments on Form U4.

See: FINRA Podcast; Transcript of Podcast.