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.
Roy Bernard Harris II (CRD #1064750, Registered Representative, Fayetteville, Tennessee) submitted a Letter of Acceptance, Waiver and Consent in which he was fined $10,000 and suspended from association with any FINRA member in any capacity for 30 business days. Without admitting or denying the findings, Harris consented to the described sanctions and to the entry of findings that he effected discretionary transactions in customers’ accounts without obtaining the customers’ prior written authorization and without having his member firm’s acceptance of the accounts as discretionary accounts.
The suspension is in effect from August 19, 2013, through September 30, 2013. (FINRA Case
FINRA records report Harris’ registration history as follows:
Harris not currently registered.
Next Financial Group
Wells Fargo Advisors
A.G. Edwards & Sons
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