Andrew Ang Allegedly Failed to Disclose a Conflict of Interest
Andrew Ang (CRD #: 6427407), a previously registered broker with Barclays Capital, is the subject of a FINRA fine and suspension, according to his BrokerCheck record, accessed on March 10, 2022.
On January 24, 2022, Andrew Ang entered into an Acceptance, Waiver, and Consent agreement (AWC), in which he consented to the findings that he failed to disclose a conflict of interest to his firm. In October 2020, while he was a research analyst with Barclays Capital, a recruiter allegedly contacted Andrew Ang to gauge his interest in working as an investor relations representative at Issuer A. Issuer A sold securities through Barclays.
In October and November of 2020, Barclays published research reports co-authored by Andrew Ang that offered an analysis of Issuer A’s financials.
FINRA Rule 2241 states that firms must disclose any material conflict of interest of a research analyst. Barclays’ policies state that planning on interviewing at a covered company creates a conflict of interest, and therefore brokers who plan on doing so must disclose their interview to the firm.
As part of the Acceptance, Waiver, and Consent agreement, Andrew Ang consented to a six-month suspension and a $10,000 fine. You can read a copy of the AWC here.
Andrew Ang has passed the following exams:
- Series 63 Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 86 Research Analyst Exam – Part I Analysis Module
- Series 87 Research Analyst Exam – Part 2 Regulations Module
- Series 7 General Securities Representative Examination
He has worked with the following firms:
- Barclays Capital (CRD #: 19714)
- UBS Securities (CRD #: 7654)
- Stifel, Nicolaus & Company (CRD #: 793)
Kurta Law Can Help
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