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Bob Thompson Allegedly Engaged in an Unapproved Outside Business

Bob Thompson (CRD #: 1975407), a previously registered broker with Concourse Financial Group Securities, has been suspended by FINRA. This disclosure appears on his BrokerCheck record, accessed on October 18, 2024. Keep reading if you have questions regarding his alleged conduct. 

Regulatory Action 

On September 16, 2024, FINRA alleged that Bob Thompson engaged in an outside business activity without providing written notice to his member firm. The findings state the firm denied his request for approval of employment as a business development officer of an outside bank. 

He allegedly sold financial products during the course of his outside business and received compensation of approximately $85,000. 

Bob Thompson entered into an Acceptance, Waiver, and Consent agreement (AWC) to settle the allegation. As part of the terms of the AWC, Bob Thompson consented to a two-month suspension and a $5,000 fine. 

Employment Separation After Allegations 

On October 6, 2023, Concourse Financial Group Securities fired Bob Thompson following allegations that he engaged in an unauthorized and unapproved outside business activity. 

FINRA Rule 3270 – Outside Business and Selling Away

FINRA Rule 3270 requires brokers to inform their firm of any outside business activities or any investments sold away from the firm. The brokerage firm may prohibit the activity if the firm believes the proposed activity may compromise the broker’s duties. Firms may also require brokers to seek approval of any outside business.

Background Information 

Bob Thompson has passed the following exams:

  • Series 63 Uniform Securities Agent State Law Examination 
  • SIE – Securities Industry Essentials Examination 
  • Series 7 General Securities Representative Examination 

During his 34 years of experience, Bob Thompson has registered with four firms: 

  • Concourse Financial Group Securities (CRD #: 15708) 
  • The Concord Equity Group (CRD #: 14569) 
  • Emissary Financial Group (CRD #: 44568) 
  • Money Concepts Capital Cop. (CRD #: 12963) 

Kurta Law Can Help 

If you worked with Bob Thompson and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation. 

For nearly 20 years, Kurta Law has advocated for investors 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. Do not let securities fraud go unchecked. Start your recovery process today.