Elmer Richard Ferguson (CRD #4249474) Has a Regulatory Disclosure on FINRA BrokerCheck

Elmer Richard Ferguson (CRD #4249474) was previously registered as a broker and has a regulatory disclosure on FINRA BrokerCheck. We reviewed his BrokerCheck report on February 5, 2026. It reflects one regulatory event. If you worked with Elmer Richard Ferguson and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Regulatory Action(s)

Elmer Ferguson’s FINRA BrokerCheck Report reflects one regulatory disclosure. A summary of the disclosure is below:

On December 24, 2025, FINRA issued a decision that suspended Elmer Ferguson in all capacities. The suspension is indefinite. It continues until the required payment is made, settled, or discharged in bankruptcy. The matter involved a FINRA arbitration award entered against him in favor of a claimant. BrokerCheck lists the award amount as $775,346. The decision also ordered him to pay $3,828.62 in costs.

Rule Summary #1: FINRA Rule 9554 (Failure to Comply with an Arbitration Award)

FINRA Rule 9554 sets an expedited process for suspending a broker who does not comply with a FINRA arbitration award or a related settlement. A suspension can remain in place until the award is resolved.

Rule Summary #2: FINRA Rule 12904 (Awards)

FINRA Rule 12904 requires monetary awards to be paid within 30 days of receipt unless a court motion to vacate has been filed. Unpaid awards can trigger FINRA action under Rule 9554.

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, Elmer Ferguson:

Is not currently registered.

Has passed the Securities Industry Essentials (SIE) exam. Elmer Ferguson has also passed Series 7, Series 24, Series 66, and Series 63.

Was previously registered with firms that include Triad Advisors LLC, MMA Securities LLC, and SagePoint Financial, Inc.

Kurta Law Can Help

If you have worked with Elmer Ferguson and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. A securities attorney can review your situation and explain potential next steps. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.

Helpful resources: Securities Attorney | 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.