Bradley Rozema of Greenwood, Indiana submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority for executing securities transactions without his customers or firms written approval. Mr. Rozema first became associated with FINRA through a member firm in 1980 as a General Securities Representative (GSR). From 2009 to 2014, Mr. Rozema acted as a GSR for Wells Fargo Advisors, LLC (Wells Fargo).
FINRA found that Mr. Rozema, while associated with Wells Fargo, effected discretionary trades for three clients. Mr. Rozema received verbal authorization to execute the trades which followed the customer’s investment objectives. However, Mr. Rozema allegedly did not obtain written authorization from either his clients or Wells Fargo in violation of NASD Rule 2510(b).