FINRA | Agency Checklists

The Financial Industry Regulatory Authority, FINRA, is an independent regulator for all securities firms doing business in the United States. FINRA licenses individuals and admits firms to the securities industry, writes rules to govern their behavior, examines them for regulatory compliance, and is authorized by the U.S. Securities and Exchange Commission (SEC) to discipline registered representatives and member firms that fail to comply with federal securities laws and FINRA’s rules and regulations. It provides education and qualification examinations to industry professionals. FINRA’s mission is to protect investors by making sure the United States securities industry operates fairly and honestly.

DOI Revokes Producer License & Fines Agent $1000 For Application Misstatement
January 10, 2016 - An analysis of a December 2015 decision by the Division of Insurance against a licensed producer in Massachusetts.
Agent Loses License For Cashing Dead Mother’s Social Security Checks For 14 Years
February 18, 2016 - The Non-Resident Producer worked for the Teachers Insurance & Annuity Association of America out of Charlotte, North Carolina.
Agent Serves A Year and A Day and Loses Licenses For Forging and Converting Policy Loans
March 1, 2016 - The agent also lost her licenses for forging and converting policy loans.
Cindy Prouty Joins The SAN Group As Regional Vice President of Eastern MA
March 19, 2016 - SAN Group announced the incorporation of Ms. Prouty who will serve the alliance's Massachusetts.
Producer’s Misrepresentation Regarding Paying Child Support Results in $5,500 Fine
On May 23, 2016, a Division of Insurance Hearing Officer fined Germone A. Gadsden, of Charlotte, North Carolina a total of $5,500 arising out of a license misrepresentation regarding the payment of child support.
$137,500 Settlement with Insurance Agent and Reverse Mortgage Broker Over Deceptive Practices
Attorney General announces settlement with insurance agent and reverse mortgage broker on scheme to use elder citizens home equities to fund unsuitable insurance products.
Appointments, Promotions & Accolades In The Massachusetts Insurance Industry
This week features announcements from Optisure Risk Partners, Boston Software, Boston CPCU Society and the MAIW.
Mass. DOI Hearing Officers Revoke Two Producers’ Licenses and Impose Fines Totaling $2,500
Division hearing officers revoke and fine two nonresident producers for failure to report criminal charges and out-of-state administrative actions.
Acton Agent Sentenced To 8.5 Years For Stealing $3.8 Million From Clients
An Acton financial adviser and insurance agent has been sentenced to federal prison for stealing over twenty years, $3.8 million from brokerage accounts, insurance policies, and annuities he controlled or managed for clients.
Salem Five Insurance Hires SVP/Director of Insurance Operations
Ms. Chi N. Vo brings an array of industry experience to new role.

Alternative Meanings:

FINRA
Financial Industry Regulatory Authority, Inc. A non-governmental organization that regulates security broker-dealers and security exchanges.

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