September 1, 2022 – An AWC was issued in which John Charles Barnes (CRD #862738) was fined $5,000 and suspended from association with any FINRA member in all capacities for one month. Barnes consented to the sanctions without admitting to or denying the findings. Consent also included entry of findings that he had exercised discretion in transactions under customer accounts without written consent of the customer and without his member firm having accepted the accounts as discretionary.
FINRA’s findings stated that each of the customers gave John Charles Barnes express or implied authorization to exercise discretion in their accounts. The sanctioned suspension was in effect from October 3, 2022, through November 2, 2022. (FINRA Case #2019062419801)