Barry Larkin Fined and Suspended in Connection with Relationship with Global Financial News Network
Barry Larkin, formerly associated with BGC Financial, L.P., was fined and suspended from the securities industry relating to Larkin’s outside business activities.
Larkin Engaged in Outside Business Activities
Larkin engaged in outside business activities with Global Financial News Network (“GFNN”) while employed by BGC Financial, according to FINRA. GFNN provides general market commentary, securities information, and analytics software, including a software product known as Storm Algorithm Suite, according to FINRA. Specifically, Larkin engaged in marketing activities on behalf of GFNN and received $25,500 in compensation and expense reimbursement from GFNN without obtaining prior written approval from BGC Financial, according to FINRA.
In May 2011, Larkin entered into an oral agreement with GFNN, then known as Newsgrade, in which Larkin agreed to market GFNN and its product, Storm Algorithm Suite, to members of the securities industry, according to FINRA. Pursuant to this agreement, Larkin received access to GFNN’s proprietary software and presented demonstrations of Storm Algorithm Suite to BGC Financial’s registered representatives, as well as other members of the securities industry, according to FINRA.
Larkin consented to a $5,000 fine and a 45-day suspension from the securities industry without denying or admitting FINRA’s findings.
Investment Fraud Lawyers Investigating
The Peiffer Rosca securities attorneys often represent investors who lose money as a result of Ponzi schemes, investment fraud, or stockbroker misconduct. They are currently investigating the possibility of assisting victims with the recovery of their losses. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of investment fraud or misconduct may contact the securities lawyers at Peiffer Rosca, Alan Rosca or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 888-998-0520.
Broker: Barry Larkin
Status: INVESTIGATED by Peiffer Rosca.
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