October 20, 2020
On September 25, 2020, former general securities representative Alec Franks consented to a bar imposed by the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he violated securities industry rules.
Franks was most recently associated with First Standard Financial Company LLC in Red Bank, New Jersey from June 2014 to April 2019. He was also associated with National Securities Corporation in Staten Island from October 2010 to July 2012 and Legend Securities, Inc. in New York City from June 2010 to September 2010.
Without admitting or denying any wrongdoing, Franks consented to a bar from associating with any FINRA member firm. Franks violated FINRA Rules 8210 and 2010 by refusing to provide information and documents requested by FINRA staff during an investigation of potential outside business activities and excessive trading activity in customer accounts.