UPDATE March 2016–FINRA records report that Bruce Harada has been named in 23 customer disputes, 22 of which have been settled and one of which is still pending. In January 2014 Harada was sentenced to 20 years for securities fraud and money laundering.
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.
Original Post —September 2013
Bruce Martin Harada (CRD #2324524, Registered Representative, Honolulu, Hawaii) 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, Harada consented to the described sanction and to the entry of findings that he convinced some of his customers to withdraw funds from their securities accounts and write personal checks payable to him. Harada represented that he would invest these funds in a personal asset management product. In reality, the product did not exist. Instead of investing these funds as Harada represented, he converted at least $792,612 to his personal use over a three-year period. The findings stated that Harada failed to respond to FINRA requests for information. (FINRA Case #2012032670901)
FINRA records report Harada’s registration history as follows:
ING Financial Partners
01/2011-5/2012
ING Financial Advisers
01/2007-01/2011
Financial Network Investment Corp
03/1999-12/2006
Harada is not registered as of September 2013.
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.
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