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Respondent Carlson failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.
Resolution
Letter
Sanctions
Suspension
Registration Capacities Affected
All capacities
Duration
N/A
Start Date
2/18/2020
End Date
5/26/2020
Regulator Statement
Pursuant to Article VI, Section 3 of FINRA By-Laws, and FINRA Rule 9554, Respondent Carlson is suspended on February 18, 2020 for failure to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.
Suspension lifted on May 26, 2020.
Broker Comment
This matter was born out of a contractual dispute between me and my former employer after I left the brokerage industry to form my independent financial advisory firm. A FINRA panel awarded an amount to my former employer, which I continued to believe was unwarranted and worthy of appeal. Nonetheless, I made multiple offers to pay the full amount of the award to my former employer Credit Suisse, payable over a reasonable period of time. During the period that we did not have an agreement on payment, I was subject to suspension under FINRA By-Laws -even though I was no longer associated with FINRA. After an agreement was reached on the award, FINRA ended the technical suspension although I had not been associated with a FINRA firm and presently do not intend to return to any FINRA firms.
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.
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.