A former broker with BBVA Securities in Birmingham, Alabama, was expelled from the industry on Tuesday for failing to cooperate with a FINRA investigation into alleged misconduct.
Eric Darty was terminated from BBVA in October after a series of unauthorized transactions involving accounts or funds of customers of both BBVA and its affiliate bank, FINRA claimed in a disciplinary filing.
The alleged wrongdoing occurred from November 2015 to October 2016, according to the regulator.
FINRA said Darty declined to provide bank and credit card statements, tax returns, cashiers' checks and other documents and information that it requested, a decision that automatically results in a bar.
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The broker was terminated after a series of unauthorized transactions involving the accounts of customers of both BBVA and its affiliate bank, FINRA claimed.
February 15 -
The regulator rebuked the broker for excessive trading that generated more than $666,000 in commissions and fees and resulted in $397,000 in losses.
February 13 -
FINRA chided the rep for following through on trading instructions received via email from bank employees without confirming the transactions with the customers.
February 7
Darty could not be reached for comment. In his settlement with FINRA, he neither admitted nor denied the charges but consented to an entry of FINRA's findings.
Darty worked for BBVA from March 2014 to October 2016, when he was discharged for irregularities in accounts in which he appeared to have been involved, according to his BrokerCheck report. He joined BBVA Compass, the firm's affiliate bank, in September 2012.
Al Ortiz, a spokesman for BBVA Compass, declined to comment, saying it does not disclose information concerning employee matters.
