Austin M. Elliott (CRD #6988550) Has an Employment Separation Disclosure on FINRA BrokerCheck
Austin M. Elliott (CRD #6988550) was previously registered as a broker with an employment separation disclosure on FINRA BrokerCheck. We reviewed his BrokerCheck report on February 18, 2026. It reflects one employment separation disclosure. If you invested with Austin M. Elliott and have concerns, keep reading.
BrokerCheck link: BrokerCheck
BrokerCheck report: BrokerCheck Report (PDF)
Employment Separation
Austin Elliott’s FINRA BrokerCheck Report reflects one employment separation disclosure. A summary of the disclosure is below:
On December 3, 2025, Fifth Third Securities reported that it discharged Austin Elliott. The firm said he admittedly submitted inaccurate requests for compensation, which resulted in compensation he was not entitled to. Austin Elliott’s FINRA BrokerCheck report lists the product type as no product. Elliott’s statement says the matter was an internal administrative review and no customer accounts or funds were impacted.
Rule Summary #1: FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade)
FINRA Rule 2010 is a broad ethics rule. It can apply when a representative acts dishonestly or fails to follow firm standards. A termination tied to improper compensation requests can raise questions about whether the conduct met those standards.
Rule Summary #2: FINRA Rule 3110 (Supervision)
FINRA Rule 3110 requires firms to maintain a supervisory system designed to achieve compliance. It can include reviewing compensation practices and monitoring internal requests tied to client accounts. Disclosures involving internal controls often show why supervision matters.
Why This Matters to Investors (Regulation Best Interest)
Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.
Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.
Reg BI has four key obligations:
- Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.
- Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.
- Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.
- Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.
Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.
Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.
Background Information (from BrokerCheck)
Based on His FINRA BrokerCheck report, Austin Elliott:
Is not currently registered.
Has passed the Securities Industry Essentials (SIE) exam. Austin Elliott has passed Series 6. He has also passed Series 65 and Series 63.
Was previously registered with Fifth Third Securities, Inc. from July 2018 to January 2026.
Kurta Law Can Help
If you have worked with Austin Elliott and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.
Helpful resources: FINRA Arbitration | Investment Fraud
For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. Our firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.