The Financial Industry Regulatory Authority has charged a former Ameritas Investment Corp. broker with neglecting to follow through with an inquiry into allegations of him selling unapproved investment products.
“Selling away” is when a broker recommends and sells securities that the brokerage firm has not approved for sale to customers.
Ameritas Broker James Anderson Terminated for Fraudulent Practices
Broker James Anderson had been employed by Ameritas Investment Corp. for 14 years before he was terminated for fraudulent practices.
After an internal investigation concluded that Anderson had sold away indexed annuities and promissory notes while he was a broker for Ameritas, the company terminated his employment.
Anderson Barred by FINRA
FINRA has barred Anderson from participating in the securities industry for failing to cooperate with FINRA’s investigation into Anderson’s misconduct.
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