On December 9, 2024, FINRA undertook a disciplinary action against Sharon Green (CRD# 1269522), a broker registered with Independent Financial Group. According to a Letter of Acceptance, Waiver, and Consent (AWC), Green violated FINRA rules by improperly participating in an outside business activity without providing prior written notice to her member firm.
As alleged, the activity involved Green’s provision of consulting services to individuals, including three of her then-member firm’s senior citizen customers. Her services were related to estate planning, medical care, family mediation, budgeting and debt management. As compensation, she allegedly received approximately $35,000 in total. According to Investopedia, bad financial advice can have devastating consequences for investors, leading to significant financial losses and derailed retirement plans.
FINRA concluded that Green violated FINRA Rules 3270 (governing outside business activities) and 2010 (requiring observance of high standards of commercial honor and just and equitable principles of trade). Green consented to a fine of $5,000 and a one-month suspension from associating with any FINRA member firm in all capacities.
“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently.” – Warren Buffett
According to a CNBC report, bad financial advisors cost investors approximately $17 billion per year, with an average loss of $300,000 per scammed investor.
Understanding key securities industry rules
FINRA’s action against Green alleges violations of two key industry rules:
- FINRA Rule 3270 prohibits brokers from engaging in outside business activities without providing prior written notice to their member firm. Green’s firm required both disclosure and pre-approval of proposed outside activities.
- FINRA Rule 2010 requires brokers to observe high standards of commercial honor and just and equitable principles of trade in the conduct of their business.
Green’s background and Regency Wealth Partners
Green entered the securities industry in 1989 with Blunt Ellis & Loewi. Over the decades, she was also registered with firms including Dain Bosworth, Wellington Investments, SII Investments, and Woodbury Financial Services before joining Independent Financial Group in 2010. She remains based at its Elm Grove, Wisconsin office.
Green does business under the brand Regency Wealth Partners. According to its website, the firm offers personalized financial planning services centering on clients’ unique needs and goals. “Our approach is centered around the idea that your ‘why’ is just as important as the ‘how’,” it states. “Once we’ve established your goals, we’ll develop a personalized financial plan designed to meet your needs, wants, and lifestyle.”
Protecting investors’ rights
The attorneys at Haselkorn and Thibaut have recovered over $100 million for investors who suffered losses due to broker misconduct and fraud. If you have concerns about investments or strategies recommended by Sharon Green or suspect any wrongdoing, contact us for a free consultation. Cases are handled on a contingency fee basis, meaning you pay no fee unless we help you recover money. Act promptly, as you may have a limited time window to file a claim. Call 1-888-784-3315 today.
This post is based on publicly available information from FINRA and should not be construed as legal advice. Submitting this form does not create an attorney-client relationship. Names and details may have been changed to protect privacy.
