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.