{"id":1631,"date":"2015-04-24T17:06:04","date_gmt":"2015-04-24T17:06:04","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2015\/04\/finra_bars_wells_fargo_broker"},"modified":"2022-03-22T14:13:05","modified_gmt":"2022-03-22T19:13:05","slug":"finra-bars-wells-fargo-broker","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/finra-bars-wells-fargo-broker\/","title":{"rendered":"FINRA Bars Wells Fargo Broker to NFL, NBA Players Over Failure to Disclose Nightclub Involvement"},"content":{"rendered":"

\t\t\t\tThe Financial Industry Regulatory Authority Inc. has barred broker Aaron Parthemer, a Wells Fargo (WFC) adviser, for taking part in a number of outside businesses and failing to disclose his involvement. FINRA has tight regulations that don’t allow brokers to take part in private securities transactions without notifying their firm and getting authorization. Parthemer, who used to be at Morgan Stanley Wealth Management (MS) until four years ago, has advised numerous NBA and NFL athletes. <\/p>\n

According to the SRO, he falsely represented, in compliance questionnaires he filled out while with both firms, that he was not taking part in external business activities that warranted disclosure. He also gave FINRA false data when the regulator started to ask for more information about external business activities in 2012.<\/p>\n

Parthemer allegedly did not disclose the part he played in running Club Play, which used to be a South Beach, Florida nightclub, as well as his involvement in a tequila marketing operation and an Internet branding startup. FINRA also contends that the broker made unapproved loans to clients in connection with the club and referred clients to invest in the start up. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Financial Industry Regulatory Authority Inc. has barred broker Aaron Parthemer, a Wells Fargo (WFC) adviser, for taking part in a number of outside businesses and failing to disclose his involvement. FINRA has tight regulations that don’t allow brokers to take part in private securities transactions without notifying their firm and getting authorization. Parthemer, who […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3773,3739],"tags":[],"class_list":["post-1631","post","type-post","status-publish","format-standard","hentry","category-broker-fraud","category-finra"],"yoast_head":"\nFINRA Bars Wells Fargo Broker to NFL, NBA Players Over Failure to Disclose Nightclub Involvement — Investor Lawyers Blog — April 24, 2015<\/title>\n<meta name=\"description\" content=\"The Financial Industry Regulatory Authority Inc. has barred broker Aaron Parthemer, a Wells Fargo (WFC) adviser, for taking part in a number of outside — April 24, 2015\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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