On February 12, 2020, the Financial Industry Regulatory Authority (“FINRA”) permanently barred Ronald Hannes (Ronald Walter Hannes CRD# 1452241) from associating with any FINRA member in any capacity for refusing to cooperate with FINRA officials during their investigation of him for conversion of consumer funds. Hannes operated out of Hannes Financial Services Inc in Spokane Washingon. Letter of Acceptance Waiver and Consent No. 2019064915301 (Feb. 13, 2020). Hannes was previously registered with Woodbury Financial Services Inc. in Spokane, Washington from 1994-2019.
Prompting FINRA’s investigation was a Uniform Termination Notice for Securities Industry Registration (U5) which was filed on December 18, 2019. According the AWC, “. . .[b]y Uniform Termination Notice for Securities Industry Registration (Form U5) dated December 18, 2019, Woodbury terminated Hannes’ association with the Firm and disclosed that the Firm ‘received notice from a client that funds were paid to [Hannes] for purchase of a life insurance contract that were not forwarded to the life insurance company.’” Id. Continue reading