Articles Tagged with Suspended and Fined by FINRA

Allegations include falsifying documents

Douglas William Finlay Jr. is facing an 18-month suspension and fine of more than $15,000 to be paid later, according to FINRA.

According to the disciplinary action documents, Finlay allegedly falsified a customer’s forms by claiming her net worth was more than $1.3 million, when in fact it was about $135,000. On the same form, he allegedly claimed the customer’s income was $150,000 when it was actually $70,000. These alleged falsifications resulted in the firm having inaccurate forms and led to another allegation of recommending an unsuitable transaction.