FINRA Bars Rep, BD for Misleading Private Placement Investors


The Financial Industry Regulatory Authority has barred a well-known seller of tenant-in-common exchanges, Tony Thompson, and his broker-dealer, TNP Securities, from the industry.

“Enforcement argues that restitution is required because ‘[a]s a result of the respondents’ misconduct, every investor that purchased any of the notes issued by the Guaranteed Notes LLCs after January 1, 2009, was misled, and, at a minimum, has unjustly suffered the loss of the principal amount of their investment,” FINRA said in the order released Monday.