Super Lawyers
Million Dollar Advocates Forum

FINRA Suspends Representatives In March 2019


Publicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on March 18, 2019 list 15 brokers and/or investment advisers reported as subject to FINRA sanctions suspending them in that month. The individuals named below have signed letters of Acceptance, Waiver and Consent (AWC Letters) consenting to these disciplinary actions, though they have not admitted to or denied the alleged underlying conduct. Some suspensions may impact the individual’s operation in a principal capacity or other capacities, and some actions may have lifted before or after report was published by FINRA. The fines listed below, additionally, may not encompass all penalties paid, which may also include restitution and/or disgorgement. The individuals include Paul Wishingrad, sanctioned in connection to allegations he improperly exercised discretion in customer accounts; Suresh Basnet, sanctioned in connection to allegations he participated in private securities transactions; Gary Pevey, sanctioned in connection with allegations he participated in undisclosed and unapproved private securities transactions; Deming Payne, sanctioned in connection to allegations he made false statements to his firm and caused it to maintain inaccurate books and records; Michael Holder, sanctioned in connection to allegations he exercised unauthorized and unapproved discretion; Jenna Brown, sanctioned in connection to allegations she forged signatures on investment advisory agreements; and Joshua Miller, sanctioned in connection to allegations he participated in a check-kiting scheme. More information is available at FINRA’s disciplinary action homepage.

Name Current/Former Employers Fine Paid Length of Suspension
Richard Allen Riemer Jr. Equity Services $5,000 6 months
Megan Nina Weakland Raymond James & Associates $3,500 2 months
Paul Steven Wishingrad UBS Financial Services $5,000 15 days
Suresh Basnet Corecap Investments $5,000 45 days
Frank Fornshell Venable III Morgan Stanley $5,000 10 days
Gary Lyle Pevey Mutual Securities $10,000 12 months
Barbara Bonnie Fox SunTrust Investment Services n/a 3 months
Gregory Joseph Rusnak Sigma Financial Corporation $5,000 15 days
Deming Anthony Payne Charles Schwab & Company $5,000 90 days
Michael Brian Holder Jr. Merrill Lynch $5,000 20 days
Bruce Anthony Zaro International Assets Advisory $5,000 2 months
Jenna A. Brown Lifemark Securities Corporation $5,000 3 months
Joshua Zev Miller Raymond James & Associates $7,500 12 months
Guy Patrick Wyser-Pratte Wyser-Pratte & Company $9,000 6 months
John Francis Davenport Liberty Partners Financial Services $20,000 2 months
Posted in:

Comments are closed.

Contact Information