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.
Martin Firestone Bowers (CRD #1018570, Registered Supervisor, Berwyn, Pennsylvania-currently registered with Janney Montgomery Scott) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $5,000 and suspended from association with any FINRA member in any capacity for five business days.
Without admitting or denying the findings, Bowers consented to the described sanctions and to the entry of findings that he exercised discretion in customers’ accounts without obtaining each customer’s written authorization and his member firm’s acceptance of the accounts as discretionary.
The suspension was in effect from July 1, 2013, through July 8, 2013. (FINRA Case #2011030316201)
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