Broker Barred by FINRA for Excessive Trading in Client IRA Accounts

Broker Barred by FINRA for Excessive Trading in Client IRA Accounts

Released March 2017 Richard Gomez (CRD #4727721, Jackson Heights, New York) submitted an AWC in which he was suspended from association with any FINRA member in any capacity for one year.  In light of Gomez’s financial status, no monetary sanction has been imposed. Without admitting or denying the findings, Gomez consented to the sanction and to the entry of findings that he engaged in several types of misconduct in the Individual Retirement Accounts (IRAs) of three of his member firm’s customers. The findings stated that without obtaining prior written authorization from two of these customers—who are husband and wife and…