Richard Stanislaus Routie (CRD #4379905) Has a Regulatory Action Disclosure on FINRA BrokerCheck

Richard Stanislaus Routie (CRD #4379905) was previously registered as a broker and investment adviser. His FINRA BrokerCheck report lists one regulatory event. We reviewed his BrokerCheck report on February 10, 2026. If you worked with Richard Routie and have concerns, keep reading.

BrokerCheck link: BrokerCheck

BrokerCheck report: BrokerCheck Report (PDF)

Regulatory Action(s)

Richard Routie’s FINRA BrokerCheck report reflects one regulatory event disclosure. A summary is below:

On December 12, 2025, FINRA reported a final regulatory action involving Richard Routie. FINRA stated that he refused to appear for on-the-record testimony requested in a FINRA investigation into whether he borrowed money from customers. The action resulted in a permanent bar in all capacities, effective December 12, 2025. Acceptance, Waiver & Consent (AWC) is available here.

Rule Summary #1: FINRA Rule 8210 (Provision of Information and Testimony)

FINRA Rule 8210 requires associated persons to provide information and testimony when FINRA requests it. Refusing to appear can lead to disciplinary action, including suspension or a bar. This rule supports FINRA investigations and investor protection.

Rule Summary #2: FINRA Rule 3240 (Prohibition on Borrowing From or Lending to Customers)

FINRA Rule 3240 generally prohibits brokers from borrowing money from customers or lending money to them. Limited exceptions can apply, but firms must have written procedures and approvals in place. The rule aims to reduce conflicts of interest and protect customers from improper personal loans.

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, Richard Stanislaus Routie:

Is not currently registered as a broker.

Was permanently barred by FINRA in all capacities, effective December 12, 2025.

Has passed 1 principal/supervisory exam, 3 general industry/product exams, and 2 state securities law exams.

Was previously registered with firms that include Cetera Financial Specialists LLC and Ameriprise Financial Services, LLC.

Kurta Law Can Help

If you have worked with Richard Routie and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call (877) 600-0098 or email info@kurtalawfirm.com.

Helpful Resources: What Is Securities Fraud? | What Can a Securities Attorney Do for Me?

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.