The Monetary Trade Regulatory Authority suspended a dealer from associating with any FINRA member in all capacities for six months and fined him $5,000 after he didn’t disclose in a well timed vogue that he was charged with three felonies and pleaded responsible to at least one.
With out admitting or denying the regulator’s findings, John Matthew Underation signed a letter of acceptance, waiver and consent on Dec. 16 by which he consented to the imposition of FINRA’s sanctions to settle the alleged rule violations in opposition to him.
Alfred B. Jensen, principal counsel for the FINRA Division of Enforcement, signed the letter on Tuesday.
In November 2005, Underation grew to become registered as a common securities consultant and served as a rep and dealer for 5 companies, together with Morgan Stanley from 2008-2017, based on his report on FINRA’s BrokerCheck report.
Morgan Stanley terminated him over “allegations concerning consultant’s actions in signing a co-worker’s identify on a private mortgage account with out authorization,” based on a disclosure on Underation’s report.
In October 2017, Underation grew to become related to McDonald Companions and registered with FINRA as a rep and dealer for that RIA.
On Could 3, 2022, McDonald Companions filed a Kind U5 Uniform Termination Discover stating the agency discharged Underation saying he was “statutorily disqualified.”