Former First Allied broker barred

Masood Husain Azad failed to provide information about outside trades

Nov 3, 2017 @ 11:54 am

By InvestmentNews

The Financial Industry Regulatory Authority has barred Masood Husain Azad, a former broker with First Allied Securities, for failing to provide information the group requested.

Finra said that First Allied terminated Mr. Azad in May 2017.

In August 2017, Finra's enforcement unit began investigating allegations of misconduct by Mr. Azad, including that he participated in an unapproved private securities transaction by soliciting investments and/or directly investing in an electronic data security company.

Finra also was looking into whether Mr. Azad engaged in outside business activities involving that company without obtaining authorization from First Allied, the self-regulator for the brokerage industry said.

Mr. Azad became affiliated with First Allied in January 2015. He started his career in 2004 at Voya Financial Services.

0
Comments

What do you think?

View comments

Recommended for you

Sponsored financial news

Featured video

INTV

Why broker-dealers are on a roll

Deputy editor Bob Hordt and senior columnist Bruce Kelly discuss last year's bounce-back for IBDs.

Latest news & opinion

8 podcasts advisers listen to when they aren't working

Listening to podcasts for the fun of it.

UBS continues to cut loans to recruits, while increasing compensation to brokers

The wirehouse reduced recruitment loans 20% and increased bonus loans 68% in the first quarter.

Things are looking up: IBDs soared in 2017

With revenue up, interest rates rising and regulation easing, IBDs are soaring.

SEC advice rule may give RIAs leg up over broker-dealers

Experts say advisers will be able to point to their role as fiduciaries as a differentiator in the advice market.

Brokers accept proposed SEC rule on who can call themselves an adviser

Some say the rule will clear up investor confusion, but others say the SEC didn't go far enough.

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.

X

Subscribe and Save 60%

Premium Access
Print + Digital

Learn more
Subscribe to Print