Former AISG financial advisor, Thomas Joseph Logue, Jr. (Logue), recently settled allegations with the Financial Industry Regulatory Authority (FINRA) following an enforcement action. FINRA investigated Logue’s alleged misconduct, including unsuitable investment recommendations to numerous AISG customers. As a consequence of Logue’s failure to cooperate with FINRA’s investigation, FINRA permanently barred him from the financial industry.
Logue (FINRA CRD No. 1700554) entered the financial industry in 1990 as a general securities representative. Logue worked for various firms during his career, including but not limited to, First Midwest Securities, Inc. and Investors Capital Corp. During the relevant time period, Logue worked for American Independent Securities Group, LLC (“AISG”). Logue’s FINRA BrokerCheck Report reveals six (6) customer complaints alleging over a million in damages as of today. Logue is no longer associated with any FINRA-member; however, he remains subject to FINRA’s jurisdiction.
FINRA’s Department of Enforcement initiated an investigation into Logue’s alleged misconduct. FINRA specifically investigated Logue’s “trading activities” in violation of federal and state securities laws or regulations or FINRA rules. FINRA sent Logue a request to provide on the record testimony pursuant to FINRA Rule 8210. According to FINRA, Logue failed to cooperate with the investigation in any discernable manner.
Based upon the foregoing alleged misconduct, FINRA asserted Logue violated FINRA Rules 2010 and 8210. Specifically, FINRA Rule 8210 authorizes FINRA, in the course of its investigations, to require persons associated with a FINRA member to “provide information orally, in writing, or electronically . . . with respect to any matter involved in the investigation...” Here, Logue failed to provide information in response to FINRA’s request, thereby violating FINRA Rule 8210.
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