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Acting as an investment adviser representative of 1620 Investment Advisors, Inc. without being so registered since January 1,2005.
Resolution
Consent
Sanctions
Back registration fees and administrative assessments
Broker Comment
Mr. Johnston was initially registered properly with the Commonwealth of Massachusetts. Due to an administrative error at the State Securities Division, Mr. Johnston's registration did not carryforward when the state began to utilize the electronic systems through FINRA.
While this error originated within the Massachusetts Securities Division, Mr. Johnston found this error through his own internal review and self-reported this issue to the Massachusetts Securities Division.
The 1620 employees responsible for monitoring the registration process for the Advisor did not catch this clerical error during the annual fee payment process for the firm and its advisory persons.
The company regrets that this clerical error persisted for the period noted herein.
A brokerage firm, also called a broker-dealer, is in the business of buying and selling securities – stocks, bonds, mutual funds, and certain other investment products – on behalf of its customer (as broker), for its own bank (dealer), or both. Individuals who work for broker-dealers - the sales personnel are commonly referred to as brokers.
IA
Investment Adviser
An investment adviser is paid for providing advice about securities to clients. In addition, some investment advisers manage investment portfolios and offer financial planning services.
Disclosures
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
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Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.