LaTonya Anderson is Subject to FINRA Suspension and Fine
LaTonya Anderson (CRD #: 6466679 ), a broker formerly registered with J.P. Morgan Securities, consented to a nine-month FINRA suspension together with a $12,500 fine, according to her BrokerCheck Record accessed on November 23, 2021.
This suspension stems from the following allegation:
- LaTonya Anderson misrepresented personal information in a loan application she submitted to the Small Business Administration (SBA) to obtain an Economic Injury Disaster Loan.LaTonya Anderson thereby violated FINRA Rule 2010.
- LaTonya Anderson failed to timely amend her Uniform Application for Securities Industry Registration or Transfer (Form U4) to disclose a tax lien and seven compromises with creditors. Anderson thereby violated Article V, Section 2(c) of FINRA’s By-Laws and FINRA Rules 1122 and 2010.
FINRA Letter of Acceptance, Waiver, and Consent Agreement
According to an Acceptance, Waiver, and Consent agreement dated October 20, 2021, without admitting or denying, LaTonya Anderson consented to the findings that she allegedly made negligent misrepresentations while applying for an Economic Injury Disaster Loan from the Small Business Administration (SBA). According to the findings, she allegedly misrepresented that she was the owner of a real estate business with ten employees and had earned revenue and incurred costs for 12 months prior to January 31, 2020. However, LaTonya Anderson did not own any such real estate business or have any other business eligible for an Economic Injury Disaster Loan from the Small Business Administration.
Based on LaTonya Anderson’s misrepresentations, the Small Business Administration gave her a $10,000 Economic Injury Disaster Loan advance but denied the loan application. After applying for the loan, hse Anderson legally formed a real estate business and used some of the money she received from the Small Business Administration to pay for expenses relating to the business. she has reportedly not repaid the $10,000 to the Small Business Administration.
As a result, LaTonya Anderson violated FINRA Rule 2010, which requires all registered members to observe high standards of commercial honor and just principles in their business dealings. She also consented to the findings that she allegedly failed to timely amend her Form U4 to disclose a tax lien and seven compromises with creditors. Article V, Section 2(c) of FINRA’s By-Laws requires brokers to keep their Form U4 “current at all times.” At the same time, FINRA Rule 1122 prohibits registered brokers from filing registration information that is incomplete or inaccurate. Violations of Article V, Section 2(c) of FINRA’s By-Laws and FINRA Rule 1122 also constitute violations of FINRA Rule 2010, which requires associated persons to observe high standards of commercial honor and just principles in their business dealings.
You can read a copy of the AWC here.
FINRA Suspension and Fine
As part of the terms of the AWC, LaTonya Anderson consented to a 9-month suspension and a $12,500 fine.
LaTonya Anderson has passed the following exams:
- SIE – Securities Industry Essentials Examination
- Series 6 – Investment Company Products/Variable Contracts Representative Examination
Other than J.P. Morgan Securities, LaTonya Anderson has not worked with any other firm.
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