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Gopi Krishna Vungarala – Decatur, Texas

Vungarala appealed an Office of Hearing Officers (OHO) decision to the National Adjudicatory Council (NAC). Vungarala was barred from association with any FINRA member in all capacities and ordered to pay $9,682,629, plus prejudgment interest, in disgorgement of commissions received. The sanctions were based on findings that Vungarala willfully violated Section 10(b) of the Securities […]

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Jerry Lou Guttman – Scottsdale, Arizona

An AWC was issued in which Guttman was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Guttman consented to the sanction and to the entry of findings that he sold more than $7,000,000 worth of membership interests in at least six different limited liability companies to 31 […]

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Todd S. Kimm – Skaneateles, New York

An AWC was issued in which Kimm was fined $5,000 and suspended from association with any FINRA member firm in all capacities for six months. In light of Kimm’s financial status, a lower fine was imposed. Without admitting or denying the findings, Kimm consented to the sanctions and to the entry of findings that he […]

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UBS Financial Services Inc. – Weehawken, New Jersey

An AWC was issued in which the firm was censured and fined $20,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it submitted ROEs to OATS that contained inaccurate, incomplete, or improperly formatted data. The findings stated that the firm submitted reports to OATS […]

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FINRA Sanctions Citigroup Global Markets Inc. $11.5 Million for Inaccurate Research Ratings

FINRA announced that it has fined Citigroup Global Markets Inc. (CGMI) $5.5 million and required the firm to pay at least $6 million in compensation to retail customers for displaying inaccurate research ratings for numerous equity securities during a nearly five-year period, and for related supervisory violations. An equity research rating reflects a firm’s opinion […]

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