Forte and Lawrence Exploited Elderly Client to Generate More Than $9 Million in Commissions in Less Than One Year WASHINGTON—FINRA today announced it has barred Ami Forte and Charles Lawrence of Florida for their respective roles in churning accounts belonging to a 79-year-old customer who suffered from severe cognitive impairment.
WASHINGTON – FINRA today published its 2019 Report on FINRA Examination Findings and Observations. The report reflects key findings and observations identified in recent examinations, and contains effective practices that could help firms improve their compliance and risk management programs.
Recommend risky investments
Excessively trade your account
Fail to limit securities losses
Over-concentrate your portfolio
Recommend unsuitable investments
Make material misrepresentations
Excessively use margin
Earn huge commissions while you lost money
Sell you auction rate securities
Sell you a high risk private placement
Sell you highly leveraged ETF’s
Execute unauthorized trades
Sell you junk or church bonds