Articles Tagged with Irvine California Failure to Supervise Attorney

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Finance 500, Inc. of Irvine, California, and Robert Lansing Hicks, of Orange, California, submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) for allegedly failing to establish and implement an anti-money laundering (AML) program and numerous supervisory failures.

FINRA found that between 2005 and 2014, Robert Hicks, who was Finance 500’s owner President, Chief Executive Officer, Chief Compliance Officer and designated Anti-Money Laundering Compliance Officer, and Finance 500 failed to implement and enforce adequate supervisory policies in order to oversee the market making activities of low-priced stocks, sales of unregistered low-priced securities, the review and retention of emails, and the implementation and delegation of supervisory responsibilities. Continue reading →