Andrew Benjamin Edenbaum (CRD #3040543, Boca Raton, Florida)

March 21, 2022 – An AWC was issued in which Edenbaum was fined $10,000 and suspended from association with any FINRA member in all capacities for three months. Without admitting or denying the findings, Edenbaum consented to the sanctions and to the entry of findings that he participated in a private securities transaction without providing prior written notice to his member firm. The findings stated that Edenbaum participated in the sale of a variable annuity to an individual who was not a customer of the firm, after the individual was referred to him for investment advice. The individual invested a total of $150,000 in the variable annuity, through another broker-dealer with which Edenbaum was not associated. Edenbaum, who did not have the insurance license required to sell a variable annuity during this period, participated in the transaction by obtaining a variable annuity application from a registered representative of the other broker-dealer and helping the investor to complete it. In addition, Edenbaum advised the investor about how to allocate her investment among various indices. Edenbaum also delivered the investor’s application to the registered representative of the other broker-dealer, provided the investor with instructions for wiring the funds for the investment to the annuity company, and identified himself to the investor as the person to whom the investor should direct any questions about the investment. Edenbaum did not receive any compensation for participating in the transaction. The suspension is in effect from April 18, 2022, through July 17, 2022. (FINRA Case #2020067007401)