Philip Myers Subject of FINRA Fine and Suspension
Philip Myers (CRD #: 1458723), a broker formerly registered with American Investors Group, is the subject of a FINRA suspension and fine, according to his BrokerCheck record, accessed on March 19, 2022.
According to an Acceptance, Waiver, and Consent agreement dated January 7, 2022, Philip Myers consented to the findings that he allegedly provided a gift of bonds to an employee of a bank engaged in business with American Investors Group, in violation of FINRA Rules 3220 and 2010.
In July 2015, Philip Myers allegedly provided a gift of church bonds with a face value of $100,000 to an employee of the bank that served as a trustee. $100,000 is well beyond the gift limit allowed by the FINRA Rule 3220.
FINRA Rule 3220 and 2010
FINRA Rule 3220(a) states that no person associated with a member shall, directly or indirectly, give or permit to be given anything of value, including gratuities, in excess of one hundred dollars per individual per year to any person, principal, proprietor, employee, agent or representative of another person where such payment or gratuity is in relation to the business of the employer of the recipient of the payment or gratuity.
A violation of FINRA Rule 3220 is also a violation of FINRA Rule 2010, which requires associated persons to observe high standards of commercial honor and just and equitable principles of trade in the conduct of their business.
As part of the terms of the AWC, Philip Myers consented to:
- A two-month suspension
- A $5,000 fine
You can read a copy of the AWC here.
Philip Myers has passed the following exams:
- Series 65 – Uniform Investment Adviser Law Examination
- Series 63 – Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 53 – Municipal Securities Principal Examination
- Series 24 – General Securities Principal Examination
Besides American Investors Group, Philip Myers has also worked with U.S. Advisors (CRD#:10721) and Financial Planners Equity Corporation (CRD#:7420)
Kurta Law Can Help
If you have been victimized after working with Philip Myers, don’t hesitate to contact us today at 877-600-0098 or firstname.lastname@example.org for a free consultation.
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