Benjamin Irby Cox, a former registered representative from Dallas, Texas, was fined $5,000 and suspended for one year by the Financial Industry Regulatory Authority (FINRA) for falsifying suitability information on contact forms he submitted to his employing firm.
Cox, who cold called potential investors for oil and gas offerings for his member firm, was responsible for gathering and documenting suitability information about potential investors.. He was supposed to obtain the name of the investor as well as address , occupation and financial and investment experience of the potential investor. He was also supposed to determine the potential investor's interest in oil and gas investments and submit the information to his firm.
The FINRA findings state that Cox falsified the suitability information on some contact forms he submitted to his firm and provided false information about the potential investor's address, occupation, financial status and/or investment experience.
According to FINRA records Cox was registered with Red River Securities, LLC, of Plano, Texas from 3/2010-3/2012. Cox is not currently registered.
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Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.