Finra bars former Stephens broker for no-show at hearing

Regulator investigating withdrawals from bank account of ex-rep Norris Roberts Jr.
FEB 28, 2018

The Financial Industry Regulatory Authority Inc. has barred Norris Richard Roberts Jr., a former broker whose suspicious activity led federal agents to uncover an illegal gambling operation in Arkansas. In a letter of acceptance, waiver and consent, Finra said it was investigating allegations that Mr. Roberts was structuring withdrawals from his personal bank account in order to avoid his bank having to file currency transaction reports. When Mr. Robert failed to show up for an investigation into his firing, Finra barred him. In August 2017, Mr. Roberts, of Rogers, Ark., was terminated by Stephens Inc. following its review of a published report and supporting materials containing allegations that he had engaged in illegal activities, according to Finra. Finra was referring to a report by ArkansasBusiness.com that Mr. Roberts was involved in an illegal gambling business in his home town.

Latest News

The 2025 InvestmentNews Awards Excellence Awardees revealed
The 2025 InvestmentNews Awards Excellence Awardees revealed

From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.

Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty
Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty

Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.

Edward Jones joins the crowd to sell more alternative investments
Edward Jones joins the crowd to sell more alternative investments

“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.

Record RIA M&A activity marks strong start to 2025
Record RIA M&A activity marks strong start to 2025

Sellers shift focus: It's not about succession anymore.

IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients
IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients

Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.