Violation Tracker Individual Record

Company: 
GunnAllen Financial, Inc.
Penalty: 
$750,000
Year: 
2008
Date: 
May 8, 2008
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Secondary Offense: 
financial institution supervision failures
Violation Description: 

FINRA fined GunnAllen Financial, Inc., of Tampa, FL $750,000 for its role in a trade allocation scheme conducted by the firm's former head trader, as well as for various Anti-Money Laundering (AML), reporting, record-keeping and supervisory deficiencies.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Financial Industry Regulatory Authority
Civil or Criminal Case: 
civil
Notes: 

FINRA is a securities industry self-regulatory body authorized by the federal government.

Source Notes: 
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Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.