The Financial Industry Regulatory Authority (FINRA) is the largest independent regulator for all securities firms doing business in the United States. FINRA’s chief role is to protect investors by maintaining the fairness of the U.S. capital markets.
All stockbrokers and broker dealers (brokerage firms) are required to be licensed by and subject to the rules and regulations of FINRA. Each month FINRA publishes disciplinary actions against brokers and broker dealers. Discipline can range from monetary fines and suspensions, or in extreme cases, revocation of licensing and a bar from the securities industry.
See the FINRA website for current and historical disciplinary actions.
Joseph Anthony Carpenter Jr. (CRD #4998111, Registered Representative, Palm Harbor,Florida-currently unregistered, last registered with Wells Fargo Advisors, LLC) submitted a Letter of Acceptance, Waiver and Consent in which he was barred
from association with any FINRA member in any capacity. Without admitting or denying the findings, Carpenter consented to the described sanction and to the entry of findings that a customer gave Carpenter $5,000 to open and fund a Roth Individual Retirement Account (IRA) at his member firm. The findings stated that Carpenter opened the account but failed to fund it. Carpenter improperly kept the funds, converting some for his own purposes,until after the customer complained.
The findings also stated that Carpenter reimbursed his member firm, which earlier reimbursed the customer.
(FINRA Case #2011029984102)
If you have questions about investment losses or the way your brokerage account has been handled, please contact us to discuss your legal rights.
Rex Securities Law , located in Boca Raton, FL, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
561 391 1900