FINRA

Without admitting or denying the findings, Rice consented to the sanction and to the entry of findings that he declined to provide documents and information requested by FINRA in connection to its investigation of allegations made on a Form U5 by his member firm. The findings stated that Rice's firm alleged that he failed to timely disclose a pending civil action in which he was named, as per firm policy and industry regulations.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All Capacities

Indefinite

8/14/2024

CENTAURUS FINANCIAL, INC.

Permitted to Resign

THE REGISTERED REPRESENTATIVE FAILED TO TIMELY DISCLOSE A PENDING CIVIL ACTION IN WHICH HE WAS NAMED, AS PER FIRM POLICY AND INDUSTRY REGULATIONS.

CLAIM ALLEGES MISREPRESENTATION AND UNSUITABILITY WITH REGARD TO MUTUAL FUNDS PURCHASED IN 2006.

$24,900.00

$10,300.00

THE RMK FUND IN QUESTION WAS RECOMMENDED BY MY FORMER PARTNER, WHO HAD KNOWLEDGE OF THE FUND. WE WERE THEN (2006) AT JANNEY MONTGOMERY SCOTT. IT WAS THE ONLY ACCOUNT OF MINE THAT PURCHASED THE FUND. WHEN I RELOCATED TO MORGAN KEEGAN IN 2007, THE CLIENT MOVED ALL OF HIS ACCOUNTS FROM JANNEY MONTGOMERY SCOTT TO ME AT MY NEW AFFILIATION. THE FUND IN QUESTION WAS NOT RECOMMENDED BY ME, BUT WAS A SUITABLE RECOMMENDATION BASED ON THE CLEINT'S NEW WORTH, INVESTMENT OBJECTIVES AND PAST INVESTING EXPERIENCE. I DID NOT PARTICIPATE IN THE SETTLEMENT, WHICH I UNDERSTAND THE FIRM DID TO AVOID THE COST OF DEFENSE.