Robert Cline Suspended by FINRA

Robert Cline (CRD #: 601754), a broker registered with NewEdge Securities, has been suspended by FINRA, according to his BrokerCheck record, accessed on July 27, 2025. If you have questions about his alleged conduct as a broker, read on.

FINRA Suspension

On April 21, 2025, Robert Cline consented to the entry of findings that he allegedly failed to reasonably respond to red flags that a representative of NewEdge Securities was obtaining improper allocations of new issue municipal bonds.

According to a Letter of Acceptance, Waiver & Consent (AWC), Robert Cline was allegedly responsible for supervising all registered representatives at the firm’s branches. He allegedly received communications indicating that one representative was mischaracterizing branches so that underwriters of new issue municipal bonds would treat the firm as an institutional customer, rather than a broker-dealer.

He allegedly failed to investigate these communications and to reasonably supervise the representative.

The AWC concluded that these allegations constituted violations of MSRB Rule G-27.

MSRB Rule G-27

MSRB Rule G-27 requires firms to establish supervisory systems to ensure their compliance with securities regulations.

Sanctions

Robert Cline consented to the following sanctions:

• Three-month suspension from associating with FINRA members in all principal capacities
• $10,000 fine

His suspension began on May 19, 2025, and will end on August 18, 2025.

You can read a copy of the AWC here.

Background Information

Robert Cline has passed the following exams:

• General Securities Principal Examination – Series 24
• Municipal Securities Principal Examination – Series 53
• Registered Principal Examination – Series 40
• Operations Professional Examination – Series 99TO
• General Securities Representative Examination – Series 7TO
• Securities Industry Essentials Examination – SIE
• Registered Representative Examination – Series 1
• Uniform Securities Agent State Law Examination – Series 63

Robert Cline is a registered broker in California, Colorado, Florida, and Pennsylvania.

he has also worked for the following firms:

• American Municipal Securities (CRD#:8365)
• Gilford Securities (CRD#:8076)
• PNC Capital Markets (CRD#:15647)
• William R. Hough & Company (CRD#:2235)
• Arch W. Roberts & Company (CRD#:7140) 
• Tucker, Anthony & R. L. Day (CRD#:837)
• Shearson Loeb Rhoades (CRD#:7506)
• Shearson Hayden Stone (CRD#:7295)
• Shearson Hayden Stone (CRD#:6774)
• Dean Witter & Company (CRD#:6466)
• Dupont Walston (CRD#:870)

Kurta Law Can Help

If you worked with Robert Cline and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.