Finra bars another former broker over phony expenses

Finra bars another former broker over phony expenses
Brenda Kochel received $24,000 from Park Avenue Securities for fake travel expenses.
AUG 15, 2019

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]

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