Ruarri Serpa 10:30 a.m., July 31
FINRA disciplines two brokers
Also charges unauthorized use of customer's credit card
The Financial Industry Regulatory Authority (FINRA) has announced discipline against two San Diego County brokers, both of whom neither confirmed nor denied the charges. Jon Herbert Green of Escondido was suspended for two years for obtaining a $6,000 loan from an elderly customer and promising to repay it in six months. He only repaid in increments and still owned $2,300 when he told the customer he couldn't pay more. His firm did not know about the loan. Jay Sheldon Potter Jr. was fined $10,000 and suspended for 18 months for failing to disclose that he had made a confidential settlement with a customer that restricted the customer's ability to communicate with regulatory authorities.
Theresa I. Reyes has been accused by FINRA of adding her husband as an authorized user of a credit card issued by JPMorgan Chase, for which Reyes was then working as a personal banker. She failed to appear before FINRA and is no longer registered with a FINRA member. The unauthorized personal charges came to $15,277.35, according to FINRA.
More like this:
- FINRA disciplines six area customers' representatives — Sept. 17, 2013
- Carlsbad broker suspended, fined for trust activity — May 17, 2013
- SD Firm, Individuals Disciplined — May 27, 2012
- Two Brokers Disciplined — Feb. 16, 2012
- Broker Banned for Churning Teenager's Account — Jan. 31, 2012