Michael Korson Barred by FINRA for Failure to Disclose Outside Business Activities
Michael Willard Korson, a former registered representative with PFS Investments, Inc. (PFS Investments) and HBW Securities, LLC (HBW Securities) has been barred from association with any Financial Industry Regulatory Authority (FINRA) member in any capacity for allegedly failing to report his outside business activities and other industry violations. Without admitting or denying FINRA’s findings, Michael Korson consented to the sanctions and to the findings that he neglected to timely and accurately notify his member firm of his outside business activities. Mr. Korson also falsely stated when his involvement with the outside business first began. According to FINRA, Mr. Korson participated in private securities transactions, involving his outside business, with sales of convertible debentures to firm customers. He also participated in the sale of preferred stock to a non-customer without providing the necessary prior written notice to his firm.
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