{"id":4608,"date":"2008-05-14T12:08:40","date_gmt":"2008-05-14T12:08:40","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2008\/05\/gunnallen_financial_agrees_to"},"modified":"2022-03-25T15:13:26","modified_gmt":"2022-03-25T20:13:26","slug":"gunnallen-financial-agrees-to","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/gunnallen-financial-agrees-to\/","title":{"rendered":"GunnAllen Financial Settles FINRA Charges Over the Firm’s Alleged Involvement in Trade Allocations"},"content":{"rendered":"

GunnAllen Financial Inc. has settled Financial Industry Regulatory Authority charges that it was allegedly involved in a trade allocation scheme, in addition to several reporting, anti-money laundering, supervisory, and recordkeeping deficiencies. The trade allocation scheme was allegedly conducted by Alexis J. Rivera, the former head trader at GunnAllen.<\/p>\n

FINRA says that in 2002 and 2003 and acting through Rivera, GunnAllen participated in a “cherry picking” scam. Rivera took profitable stock trades and put them into his wife’s personal account instead of GunnAllen customer accounts. Rivera allegedly made over $270,000 in illegal profits.<\/p>\n

The ex-trader has been barred from FINRA. The trade allocation scheme violated FINRA rules and the federal securities laws’ anti-fraud provisions. Rivera’s supervisor, Kelley McMahon, has agreed to a six-month suspension from taking part in a principal role with any FINRA-registered company. She has also agreed to a $25,000 fine.<\/p>\n

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

GunnAllen Financial Inc. has settled Financial Industry Regulatory Authority charges that it was allegedly involved in a trade allocation scheme, in addition to several reporting, anti-money laundering, supervisory, and recordkeeping deficiencies. The trade allocation scheme was allegedly conducted by Alexis J. Rivera, the former head trader at GunnAllen. FINRA says that in 2002 and 2003 […]<\/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":[3848],"tags":[],"class_list":["post-4608","post","type-post","status-publish","format-standard","hentry","category-gunnallen-financial"],"yoast_head":"\nGunnAllen Financial Settles FINRA Charges Over Trade Allocations — Investor Lawyers Blog<\/title>\n<meta name=\"description\" content=\"GunnAllen Financial Inc. has settled FINRA charges that it was allegedly involved in a trade allocation scheme amongst other recordkeeping deficiences.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/gunnallen-financial-agrees-to\/\" \/>\n<meta name=\"twitter:card\" 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