April 2021 FINRA Disciplinary Actions
Firms Fined
RNR Securities LLC
RNR Securities LLC was fined $15,000 for failing to inspect its Office of Supervisory Jurisdiction (“OSJ”) properly. RNR Securities’ written reports concerning inspections of its OSJ branch and non-OSJ branch failed to evidence proper testing of RNR Securities’ policies and procedures. The report did not describe how the review was performed nor how RNR Securities determined that there were no issues or concerns.
Actinver Securities, Inc.
Actinver Securities, Inc (“Actinver”) was fined $150,000 for failing to establish and implement an anti-money laundering (“AML”) program reasonably designed to detect suspicious activities. Actinver’s AML surveillance system was deemed unreasonable because the reports relied on to detect suspicious activity were inaccurate. This led to many instances in which suspicious activity was not properly reviewed. The Firm also failed to conduct an independent AML test for one year, therefore failing to identify any gaps in the program. Additionally, Actinver failed to follow its outlined policies and procedures related to obtaining additional information for new accounts opened for Politically Exposed Persons and Foreign Accounts. Actinver also failed to report a SAR when the Firm received notification from its clearing firm regarding red flags.
Individuals Barred
Lisa Marie Stevenson
Lisa Marie Stevenson was barred from association with any FINRA member in all capacities. Ms. Stevenson admitted that she received a $100,000 gift from a customer in contradiction to her member firm’s policies. Ms. Stevenson also failed to respond to FINRA inquiries regarding her termination. (FINRA Case #2020068942001)
Bryan Gabriel Mazliach
Bryan Gabriel Mazliach was barred from association with any FINRA member in all capacities and ordered to pay $158,289 to customers. The sanction was based on findings that Mazliach recommended short-term and excessive trading activities that were unsuitable for his customers. Mazliach often exercised de facto control in customer accounts and often made unauthorized trades. A majority of Mazliach’s customers were senior investors. Mazliach did not usually discuss commissions and fees associated with the trades and generated $187,526 in gross commissions while his customers realized losses totaling $171,595. (FINRA Case #2016051583101)
Individuals Suspended
Charles Bonilla
Charles Bonilla was suspended from association with any FINRA member in all capacities for five months, instructed to pay disgorgement to FINRA in the amount of $22,417.03 and fined $5,000 for recommending his customers invest in energy sector securities without having basis to believe the investment was suitable. Mr. Bonilla recommended investments in an energy sector mutual fund without conducting reasonable due diligence on the fund. Mr. Bonilla did not understand the fund’s holdings and was not aware of how the mutual fund paid its monthly distributions. Bonilla received $4,355.72 in commissions for this recommendation. Bonilla also recommended illiquid investments in a limited partnership without performing reasonable due diligence before the recommendation. Bonilla received $18,061.31 in commissions from this recommendation. (FINRA Case #2020067626001)
Scott Richard Hansen
Scott Hansen was suspended from association with any FINRA member for three months and fined $7,500 for engaging in an unapproved outside business activity. Mr. Hansen prepared a will and trust agreement for his elderly customer without a law degree. Mr. Hansen completed the will by downloading samples and modifying documents based on what he believed the elderly customer wanted. After the customer’s death, Mr. Hansen billed the customer’s son $5,050. (FINRA Case #2019064872501)