One NC Representative Suspended as Another Banned by FINRA
Two North Carolina financial services executives face FINRA sanctions after
two separate FINRA investigations revealed alleged misconduct.
In a Jan. disciplinary action, FINRA stated that Sean K. Hannon, of Cary,
North Carolina, had failed to appear for on-the-record testimony in two
different arbitration cases filed against him by investors. In both cases,
investors accused Hannon of making
unsuitable recommendations and excessive trades, and of omitting material facts.
One set of investors also accused him of providing them with false account
FINRA reviewed the facts of the arbitration cases against Hannon, and then
requested Hannon’s testimony. According to FINRA’s Order,
Hannon failed to provide testimony in either case. As penalty, he has
been barred permanently from association with any FINRA member in any capacity.
John Herman Fick, a registered representative in Fuquay-Varina, North Carolina,
received a FINRA sanction this year for allegedly signing customers’
names to insurance documents without their knowledge or consent. According
to FINRA, Fick’s actions occurred at least two separate times during
which he was associated with two different firms. As penalty, Fick has
been fined $5,000 and suspended from association with any FINRA member
in any capacity for a period of 18 months.
Both Hannon and Fick signed consent agreements, in which they accepted
FINRA sanctions but neither admitted nor denied any wrongdoing. The agreements
were made public in FINRA’s June listing of disciplinary actions.
For additional information,