SEC sanctions twice-barred Colorado broker

The commission said the adviser solicited securities without the knowledge of his employer

Dennis Farrah, who was barred by Colorado securities regulators in January 2018 and by the Financial Industry Regulatory Authority Inc. in June of that year, has been barred by the Securities and Exchange Commission.

Mr. Farrah resigned from Taylor Capital Management in December 2017 after the Colorado Division of Securities informed the firm that it was prepared to file charges against Mr. Farrah for selling away from the firm without its knowledge, violating Finra rules. Finra’s bar resulted from his failure to provide information in connection with an investigation into his conduct.

The SEC said that in March and April of 2017, Mr. Farrah solicited and facilitated the sale of securities of a purported real estate investment company without the knowledge or written approval of his employer.

Mr. Farrah began his securities career in 1996 at Locust Street Securities and worked at six other firms before joining Taylor Capital in 2013.

[More: Wife of barred broker helped him produce $6 million in commissions: Finra]