An Inside Look at FINRA’S Take on Alleged Misconducts
Recent developments in the financial sector spark concerns as investment broker, Ashley Gunther, finds herself in hot water. According to records available on her BrokerCheck profile, Gunther was let go by her former employer, Maryland-based firm Truist Investment Services.
The narrative took a dramatic turn October 12, 2023, when Gunther was unexpectedly shown the exit door by Truist. The startling reason? She reportedly pulled a credit report and submitted a loan application, all without directly interacting with the concerned client – a clear contravention of Truist’s operational protocols.
Rule 2010: The Financial World’s Moral Compass
This type of conduct is not just frowned upon. In fact, a closer look at FINRA Rule 2010 shows just how serious an offense it is. This rule is a cornerstone of the financial world, setting high ethical standards for brokers to prioritize commercial honor, and execute trades based on just and equitable principles.
But here’s the kicker: Gunther’s alleged conduct — not abiding by company procedures and submitting a loan application without having a conversation with the client — could potentially fall foul of this very rule.
Gunther’s Track Record: An Impressive Run Comes to an Abrupt Halt
While the allegations are significant, we should note that Gunther has an impressive track record. She had successfully cleared several relevant exams, including the Series 66 Uniform Combined State Law Examination, Series 6TO Investment Company Products/Variable Contracts Representative Examination, Series 7TO General Securities Representative Examination, and SIE Securities Industry Essentials Examination.
What Does This Mean for Investors?
Back to the main question: what does this mean for investors like us?
First up, for those who had directly worked with Ashley Gunther, it’s essential to keep a close eye on your investments. While it’s unclear exactly how this situation could affect an investor’s portfolio, it’s always a good idea to be vigilant and proactive.
For the rest of us, this episode serves as a friendly reminder of the importance of researching and understanding the brokers we choose to work with. After all, trust and confidence are vital components of any strong broker-investor relationship.
And let’s not forget: instances of potential misconduct, such as Gunther’s case, are reviewed and penalized in the interest of protecting us, the investors. So, the next time you scan through those FINRA rules, remember, they’re here to safeguard our interests.