Finra bars no-show ex-Woodbury rep

The Financial Industry Regulatory Authority Inc. has barred Robert H. Hoffmann, a former broker with Woodbury Financial Services, for failing to take part in an investigation looking into his trading recommendations.

In October, Finra staff sent a request to Mr. Hoffmann for on-the-record testimony in connection with an investigation into allegations by a customer concerning, among other things, potential unsuitable investment recommendations, unauthorized transactions, excessive trading, and private securities transactions, while Hoffmann was with Woodbury Financial Services. He left Woodbury earlier this year after 10 years with the firm and is no longer working in the securities business.

In September, Mr. Hoffmann consented to a Finra letter of acceptance, waiver and consent containing findings that he failed to amend his Form U4 to report an IRS tax lien between January 2015 and September 2015. As a result, he was fined $5,000 and given a three-month suspension.

Mr. Hoffmann began his securities career at Northwestern Mutual Investment Services in 1999 and moved to Woodbury in 2006.

Related Topics: Financial Industry Regulatory Authority