Violation Tracker Individual Record

John Thomas Financial
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: 
Action Type: 
agency action
Financial Industry Regulatory Authority
Civil or Criminal Case: 

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.