The Financial Industry Regulatory Authority suspended a broker for nine months after he sold $625,000 in Woodbridge Group of Cos.’ promissory notes to five investors without first seeking approval from his company, Sigma Financial.
Adviser Fredrick M. Randhahn of Ogden, Utah, signed a letter of acceptance, waiver and consent agreeing to the suspension, a $5,000 fine and disgorgement of the nearly $33,200 in commissions he received from the transactions plus interest.
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