A federal judge in Orlando, Florida has permanently barred Richard Goble, president of a defunct clearing firm and a critic of the Financial Industry Regulatory Authority, from the securities industry and ordered him to pay a fine of $7,500.
U.S. District Judge Mary Scriven said that Goble was guilty of engaging in an improper transaction to keep his clearing firm afloat. The firm, North American Clearing, was shut down by the Securites and Exchange Commission in May 2008. At one point it had about 40 small broker-dealer clients and cleared transactions for 10,000 customer accounts valued at more than $500 million.
Register or login for access to this item and much more
All On Wall Street content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access