Finra bars former Stephens broker for no-show at hearing

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.