Bingshan Song Subject of Two Consecutive FINRA Suspensions

Bingshan Song (CRD #: 6798955), a broker registered with Zinvest Financial Service, has been suspended by FINRA, according to his BrokerCheck record, accessed on August 31, 2025. Investors may have also engaged his services through Velox Clearing. Read on to learn more about his alleged conduct as a broker.

FINRA Suspension

On June 23, 2025, Bingshan Song consented to the entry of findings that he allegedly failed to reasonably supervise Velox Clearing’s business-related electronic communications on an unapproved communications platform.

According to a Letter of Acceptance, Waiver & Consent (AWC), Bingshan Song allegedly participated in business-related conversations in WeChat group chats with other firm personnel and firm clients. These conversations allegedly concerned client trading activity and personnel issues. He allegedly personally sent or received thousands of these messages.

Bingshan Song allegedly failed to take reasonable steps to supervise these communications or to ensure they were retained and reviewed, including after firm compliance personnel raised concerns about the use of We Chat.

As a result, Velox Clearing allegedly failed to capture, record, and review over 10,000 business-related WeChat messages from February 2021 to the date of AWC filing.

The AWC concluded that these allegations constituted violations of FINRA Rules 3110, 4511, and 2010.

FINRA Rule 3110

FINRA Rule 3110 requires that firms establish systems of supervision to maintain their compliance with securities regulations. This includes appointing supervisors and providing them with Written Supervisory Procedures (WSPs).

FINRA Rule 4511

FINRA Rule 4511 requires firms to keep accurate and up-to-date books and records.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Sanctions

Bingshan Song consented to the following sanctions:

• One-month suspension from associating with FINRA members
• Four-month suspension from associating with FINRA members in a principal capacity, consecutive with the above suspension
• $25,000 fine
• Completion of 10 hours of continuing education concerning supervisory and recordkeeping responsibilities within 90 days of the Notice of Acceptance of the AWC

His first suspension ran from July 21 to August 20, 2025, and the second began on August 21 and will end on December 20, 2025.

You can read a copy of the AWC here.

China Financial Futures Exchange Regulatory Action

On July 23, 2025, the China Financial Futures Exchange suspended Bingshan Song from opening positions in futures accounts following allegations involving a personal account held with Guoyuan Futures Co Ltd.

This suspension ran from September 21 to December 20, 2015.

Background Information

Bingshan Song has passed the following exams:

• Registered Options Principal Examination – Series 4
• General Securities Principal Examination – Series 24
• Securities Trader Exam – Series 57TO
• General Securities Representative Examination – Series 7TO
• Securities Industry Essentials Examination – SIE

Bingshan Song is a registered broker in Ohio, Maryland, the District of Columbia, and Puerto Rico.

Kurta Law Can Help

If you worked with Bingshan Song and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.