(FINRA Case #2009019108901)
Talman Anthony Harris (CRD #3209947, Garden City, New York) – A U.S. Court of Appeals for the Second Circuit Summary Order became final. Harris was barred from association with any FINRA member firm in any capacity. The U.S Court of Appeals for the Second Circuit denied Harris’ petition for review following appeal of an SEC decision.
The sanction was based on findings that Harris fraudulently omitted material facts when soliciting purchases of securities and engaged in outside business activities without providing his member firm with prompt written notice.
The findings stated that in connection with the sale of $961,825 worth of a corporation’s securities, Harris failed to disclose material facts to customers in that he and another individual received a $350,000 fee for advisory services from the corporation, and that he had a business relationship with the corporation.
Harris must have known that both the payment and his ongoing business relationship with the corporation gave him obvious conflicts of interest that had the potential to influence his decisions regarding which securities to recommend to his customers.
As a result of this conduct, Harris willfully violated Section 10(b) of the Exchange Act and Rule 10b-5 and FINRA Rules 2010 and 2020.
The findings also stated that Harris did not disclose to his firm the activities in which he engaged that led to the $350,000 fee, or that he received the fee.
Harris was most recently employed by Radnor Research & Trading Company LLC (CRD# 130120) which ended in January 2015. In Harris’ 16 year FINRA employment history he has worked for 18 different firms, of which six were expelled by FINRA. He currently has a criminal conviction for wire fraud under appeal.
If you feel you have been misled regarding investing and wish to discuss legal action, please contact Darren Blum at 1-877-786-2552 (1-877-STOCK LAW), www.stockattorneys.com for a free consultation.