Our securities fraud attorneys are investigating misconduct allegations surrounding Robert Regan of NFP Securities.
According to proceedings brought by the Financial Industry Regulatory Authority (FINRA), Robert Regan (CRD# 2322096) was accused of participating in the solicitation and sale of an outside and unapproved investment to NFP Securities customers without providing accurate written notification to the brokerage firm.
According to FINRA, between March 2010 and September 2010, Regan recommended his customers purchase stock in a private company without getting NFP’s approval. Allegedly, Regan did verbally request permission to refer his customers to the outside investment, but according to FINRA, what he actually did to solicit the sales went beyond what NFP allowed.
The conduct of which Regan is accused violates NASD Rule 3040 and FINRA Rule 2010. In a letter of Acceptance, Waiver and Consent (AWC), Regan accepted and consented to FINRA’s findings, agreeing to a 60-day suspension and $5,000 fine.
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