Simon Hagos Suspended by FINRA

Simon Hagos (CRD #: 7199712), a broker formerly registered with Fidelity Brokerage Services, has been suspended by FINRA, according to his BrokerCheck record, accessed on February 20, 2025. Read on if you have questions about his alleged conduct as a broker.

Suspension by FINRA

On January 14, 2025, Simon Hagos consented to the entry of findings that he allegedly failed to obtain written consent from his firm, Fidelity Brokerage Services, to maintain a securities account at another firm.

According to a Letter of Acceptance, Waiver & Consent (AWC), Simon Hagos allegedly had a brokerage account at another firm when he became associated with Fidelity Brokerage Services in October 2021.

He allegedly failed to obtain consent from his firm to maintain the account within 30 days and falsely attested on two annual compliance questionnaires that he had disclosed all of his outside brokerage accounts.

The AWC concluded that these allegations constitute violations of FINRA Rule 3210 and 2010.

FINRA Rule 3210

FINRA Rule 3210 prohibits brokers from opening an investment account at any other brokerage firm besides the firm where they are registered representatives, unless they have the prior written consent of their firm. 

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Sanctions

Simon Hagos consented to the following sanctions:

• Two-month suspension from associating with FINRA members
• $2,500 fine

His suspension began on January 21, 2025, and will end on March 20, 2025. You can access the full AWC here.

Background Information

Simon Hagos has passed the following exams:

• General Securities Representative Examination – Series 7TO
• Securities Industry Essentials Examination – SIE
• Uniform Combined State Law Examination – Series 66

He previously worked for Fidelity Brokerage Services (CRD#:7784) and Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691).

Kurta Law Can Help

If you worked with Simon Hagos 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.