Violation Tracker Individual Record

Company: 
John Thomas Financial
Penalty: 
$1,147,288
Year: 
2015
Date: 
January 9, 2015
Offense Group: 
financial offenses
Primary Offense: 
investor protection violation
Secondary Offense: 
financial institution supervision failures
Violation Description: 

A Financial Industry Regulatory Authority hearing panel expelled John Thomas Financial (JTF), of New York, NY, and barred its chief executive officer from the securities industry for violations in connection with the sale of America West Resources, Inc. common stock, including trading ahead of customers' orders, recordkeeping violations, violating just and equitable principles of trade, and for providing false testimony. The panel also jointly and severally ordered JTF and the CEO to pay $1,047,288, plus interest, to customers. They were also jointly and severally fined $100,000.

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: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.