Finra bars another former broker over phony expenses

Brenda Kochel received $24,000 from Park Avenue Securities for fake travel expenses

Aug 15, 2019 @ 3:08 pm

By InvestmentNews

The Financial Industry Regulatory Authority Inc. has barred Brenda Kochel, formerly a broker with Park Avenue Securities, for requesting and obtaining $23,847.24 in reimbursement from the firm's parent company for travel expenses she did not incur.

[More:Former Fidelity broker barred over expense falsification]

Ms. Kochel was terminated by the firm in August 2018 for misappropriating funds by submitting false expenses for reimbursement.

[More:Finra fines former Morgan Stanley rep $5,000 over meal expenses]

Finra, in a letter of acceptance, waiver and consent, said that Ms. Kochel submitted false expense reports from November 2016 through May 2018. She joined Guardian Investor Services in October 2006 and was employed there through March 2015, when she switched her affiliation to Park Avenue Securities. Both firms are subsidiaries of Guardian Life Insurance Company of America.

[Recommended video: Biggest changes advisers should make to be successful in the future]

0
Comments

What do you think?

View comments

Recommended next

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