Finra bars broker who lost job after felony indictment

Dick P. Wollman was fired by Horace Mann Securities for failing to disclose his indictment and barred for not cooperating with Finra's investigation into his termination.

A former broker at Horace Mann Securities, who was indicted in March on a federal felony charge and fired shortly thereafter, has been barred from the industry by Finra for failing to disclose information related to its investigation of his termination.

Dick P. Wollman, who began his securities career at AXA Advisors in 2002, joined Horace Mann in 2007. The firm, based in Springfield, Ill., specializes in insurance and investments for educators.

In a letter of acceptance, waiver and consent, the Financial Industry Regulatory Authority Inc. said an indictment had been filed against Mr. Wollman on March 22, 2017, but that he had failed to notify his employer of the action as required by Finra regulations. Mr. Wollman, whose pending charges are not securities related, told Finra that he did not intend to seek further employment in the securities industry.