FINRA Bars Broker Douglas Wayne Studer

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FINRA Bars Broker Douglas Wayne Studer

FINRA has barred former broker Douglas Wayne Studer, who was named in estate documents to inherit his 91-year-old customer’s waterfront condominium in Fort Lauderdale, Florida.

FINRA investigated Studer for potentially violating his former employer’s firm policy by being named in his customer’s estate documents, according to a settlement notice accepted by FINRA’s department of enforcement.

FINRA started looking into the former broker in 2012. On August 2, FINRA asked Studer to provide on-the-record testimony, but he failed to appear. In settling the matter, he agreed to be barred without admitting or denying FINRA’s findings.

Studer, who had been a broker for 15 years, worked for Kovack Securities Inc., from October 8 until his termination in July. There are two customer disputes listed on his BrokerCheck profile, both of which have been closed.

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