Between November 2022 and August 2023, Barnett submitted to NYLife Distributors expense reports totaling $4,463.49 for 15 meal, lodging, and transportation expenses that he charged to firm accounts. Barnett characterized the expenses as business expenses, when, in fact, they were personal expenses that did not comply with the firm’s travel and business expense policy. Therefore, Barnett improperly used firm funds in violation of FINRA Rule 2010 and is suspended for six months and fined $5,000.

From March 2022 to September 2023, Ruark electronically signed nine documents on behalf of four firm customers without permission and electronically signed eight documents on behalf of eight firm customers with permission. All of the underlying transactions were authorized. The documents included required books and records of the firm. Therefore, Ruark violated FINRA Rules 2010 and 4511. For these violations, Ruark is suspended from associating with any FINRA member in all capacities for three months and fined $5,000.