Ethan Binnion Faces FINRA Suspension Following Misconduct Allegations
Ethan Binnion (CRD #: 4990020), a broker formerly registered with Waddell & Reed, has been suspended by FINRA for alleged misconduct, according to his BrokerCheck Record accessed on November 10, 2021.
FINRA Letter of Acceptance, Waiver, and Consent Agreement
According to an Acceptance, Waiver, and Consent agreement dated September 29, 2021, Ethan Binnion consented to the findings that in December 2019 he misused firm funds by using funds from his BEP account in a manner inconsistent with Edward Jones’ permitted use of the funds. FINRA stated that the matter originated from an investigation into a Form U5 filing by Edward Jones. By virtue of this conduct, he violated FINRA Rule 2010.
FINRA Rule 2010 requires all registered members to observe high standards of commercial honor and just principles in their business dealings.
You can read a copy of the AWC here.
FINRA Sanction and Fine
Ethan Binnion consented to a $5,000 fine and a six-month suspension.
Termination from Edward Jones
On May 27, 2020, Edward Jones fired Ethan Binnion following allegations that he used Business Expense Plan funds as a bonus for his branch office administrator, which he then had the administrator pay back to him. These funds were allegedly used in violations of the terms of the plan.
Ethan Binnion has passed the following exams:
- Series 66 – Uniform Combined State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 – General Securities Representative Examination
Ethan Binnion has worked with the following firms:
- Waddell & Reed (CRD#:866)
- Edward Jones (CRD#:250)
- Merrill Lynch, Pierce, Fenner & Smith Incorporated (CRD#:7691)
- A. G. Edwards & Sons (CRD#:4)
Kurta Law Can Help
If you have suffered losses after working with Ethan Binnion, don’t hesitate to contact us today at 877-600-0098 or firstname.lastname@example.org for a free consultation.
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