According to a recent FINRA Disciplinary Action, Thomas Neil Charbonneau (Arden Hills, Minnesota) submitted an AWC in which he was barred from association with any FINRA member in any capacity.
Without admitting or denying the findings, Charbonneau consented to the sanction and to the entry of findings that he sold approximately 1.7 million shares of a speculative penny stock from his own accounts, generating proceeds of approximately $400,000, while he solicited and recommended the purchase of the speculative penny stock to his customers without disclosing that he was selling the stock from his personal accounts. The findings stated that Charbonneau’s conduct in failing to disclose his stock sales to his customers prevented them from making an informed investment decision. The findings also stated that
Charbonneau caused a customer to sign and initial in blank investment-related member firm documents pertaining to a potential investment in a REIT in contravention of his firm’s prohibition against such conduct.
For the full case information, see FINRA Case #2010024882201.
According to his FINRA Broker Check Report, Charbonneau was registered with Feltl & Company from March 2005 through October 2010 and Berthel Fisher from November 2010 through December 2013.
The foregoing information, which is all publicly available on FINRA’s website, is being provided by The White Law Group. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
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