April 9, 2015-Point Pleasant, NJ
Douglas William Finlay, Jr. , entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that effected an unsuitable transaction in the account of a customer of Cadaret Grant by over-concentrating the customer’s assets in an illiquid real estate investment trust (REIT).
In addition, the findings in the AWC state that Finlay failed to adequately disclose information to the customer about the REIT and falsified a firm document that misrepresented the customer’s net worth and income.
Finlay was suspended from the industry for 18 months, fined $15,000 and ordered to pay disgorgement of $6,639.
Disciplinary Proceeding NO. 2013035576601
According to FINRA records , Finlay was registered with Cadaret, Grant & Co. from 4/ 1998-12/2013. He is not currently registered.
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