William Bucci, who has already been barred by Finra, pled guilty to charges of securities fraud last June.
Client claims she recommended he invest in a gold ETF, which the arbitrators agreed was an unsuitable investment for him.
Chief Judge Barbara M.G. Lynn denied the financial trade association plaintiffs' motion for an injunction to stop the regulation.
James Carrazza of Olympus Securities failed to report federal tax liens on his employment record and would not provide the regulator with requested information, according to Finra.
Broker-dealer's forgivable loan balance was $136.7 million last year, up 44.7% over the previous year.
Paul D. Stanley was dismissed for violating the firm's professional conduct, supervisory and compensation policies.
An SEC filing did not say why the firm is being investigated and a lawyer for the firm declined to comment.
The transaction comes as industry executives and consultants expect more consolidation in the IBD industry.
Unsecured creditors claim one-time REIT czar and his partners siphoned revenue from RCAP to enrich themselves, leaving shareholders in the lurch.
His proposal to allow more Americans to invest in private placements is fraught with risk, mostly to retirees who fall prey to brokers motivated to sell these deals by high commissions.
