Finra bars no-show former Janney broker

The Financial Industry Regulatory Authority Inc. has barred former Janney Montgomery Scott broker Scott W. Palmer, who declined to take part in a hearing looking into his stock recommendations. Janney permitted Mr. Palmer to resign in May 2017, saying the action was due to a "loss of confidence related to complaint disclosure history," according to Mr. Palmer's BrokerCheck record. Several of Mr. Palmer's customers, according to BrokerCheck, later filed complaints with Finra, alleging that he had made unsuitable investments in their accounts and overconcentrated those investments in the energy sector. Mr. Palmer began his securities career at Darby & Co. in 1973 and moved to Dean Witter in 1976, where he remained for 18 years. He was with Citigroup from 1994 to 2007, when he joined Janney. He is no longer associated with a securities firm.