Justin Wine

Date:

June 28, 2016

Type of alert:

FINRA AWC  

On May 9, 2016, registered representative Justin Wine (CRD# 4088317), who is currently associated with BCG Securities, Inc. in Cherry Hill, New Jersey, entered into a Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) Department of Enforcement to resolve allegations FINRA made against him regarding violations of securities industry rules while serving as a general securities representative for a FINRA member firm in Washington D.C., LPL Financial, LLC (LPL), from November 2010 to August 2012. By signing this AWC, Wine consented, without admitting or denying the allegations made against him by FINRA, to a two-month suspension from association with any FINRA-regulated broker-dealer in any capacity and a $12,500 fine.

According to the AWC, Wine, who did business as Aspen Wealth Management, LLC, allegedly participated in a private securities transaction with DS, a micro-loan company based in the British Virgin Islands, without providing prior written notice to LPL, in violation of NASD Rule 3040 and FINRA Rule 2010. Between October 2011 and November 2012, Wine also allegedly engaged in outside business activities in which he recommended short-term loans to five LPL clients for TDC, an event production company that plans an annual food festival in Washington D.C. According to the AWC, Wine did not provide prior written notice to LPL that three of his clients loaned a total of $125,000 to TDC, in violation of FINRA Rules 3270 and 2010. Between May 2010 and August 2012, Wine also allegedly failed to timely amend his Uniform Application for Securities Industry Registration or Transfer (Form U4) that disclosed a short sale in May 2010 and subsequent negotiated settlement and compromise that occurred June 2011, in violation of FINRA Rules 1122 and 2010.

A review of Wine’s FINRA BrokerCheck report reveals that he has been the subject of two customer complaints during his tenure in the securities industry.

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