Integrity Brokerage Services CEO Barred by FINRA
Joshua Helmle (CRD# 2195760) has been barred from acting as a broker, according to Financial Industry Regulatory Authority (FINRA) records accessed on November 4, 2021. The former Integrity Brokerage representative allegedly failed in his supervisory duties. If you have complaints regarding Mr. Helmle, call MDF Law at 800-767-8040 for a free consultation. You may be entitled to recover loss funds.
FINRA: Helmle Permitted Disqualified Rep to Work at Integrity Brokerage
In April 2020 FINRA named Josh Helmle in a complaint alleging that while at Integrity Brokerage Services, he “permitted and enabled a statutorily disqualified person to associate with the firm and engage in its securities business.” Helmle and the firm allegedly failed to register the individual with FINRA “in any capacity,” permitting the individual to engage in securities business even though he was not properly registered.
According to FINRA’s complaint, the disqualified person’s activities at the firm involved his communication with customers about their investments. The individual allegedly received “disguised commissions” under a purported “analyst” agreement. Helmle gave his “blessing” to a firm representative to partner with the disqualified individual. Under that partnership, the representative allegedly paid the disqualified individual “a fixed fee representing approximately forty percent of her combined revenue from brokerage commissions and investment advisory fees.” At the time, Helmle was CEO of Integrity Brokerage Services.
FINRA’s findings go on to explain that the statutorily disqualified individual had been “involved in twenty-five customer disputes resulting in arbitration awards or settlements totaling over $4.8 million.” He was statutorily disqualified as a result of findings he failed to disclose tax liens.
FINRA Barred Helmle, Who Denied Allegations
In 2021 a FINRA Extended Hearing Panel issued a decision barring Helmle from associating with any FINRA member in any capacity, in connection to the above allegations. FINRA also ordered him to pay costs of $10,753.33. In a statement on the disclosure, Helmle states that the allegations his firm associated with a disqualified person are “not true.”
Pending Complaint Alleges Investment Losses
In 2021 a customer alleged that while affiliated with Integrity Brokerage Services, Joshua Helmle caused “investment losses since 2015.” The customer is seeking $488,862 in damages in the pending complaint.
FINRA records also list a settled complaint against Joshua Helmle, filed in 2010. The disclosure states that Helmle was named as a defendant in the complaint “although he was not broker on the account and was not the OSJ manager.” The disclosure states that the “allegation should have been claiming failure to supervise by the firm,” and that Helmle elected to settle the complaint instead of “fight the civil litigation.” The complaint settled for $22,500.
Helmle Resigned From Integrity Brokerage After Internal Investigation
According to FINRA records, Integrity Brokerage Services permitted Joshua Helmle to resign in December 2020. The disclosure states that his resignation followed an internal resignation into his conduct as a supervisor, as well as potential violations of firm rules and “unauthorized representation of firm in disciplinary proceeding and prior alleged conduct in an enforcement proceeding.”
Helmle Was Most Recently Based in Monterey Park, California
Joshua Helmle has spent 24 years in the securities industry. He was most recently registered with Integrity Brokerage Services in Monterey Park, California (2002-2020). His previous registrations include Tradeway Securities Group in Carlsbad, California (2000-2001); DE Frey & Company in Denver, Colorado (1999-2000); Titan/Value Equities Group in Irvine, California (1997-1999); Nicholas-Applegate Securities in San Diego, California (1997); Jack White & Company (1996-1997); Legend Capital Corporation in Palm Beach Gardens, Florida (1992); and Titan/Value Equities Group in Irvine, California (1991). He has passed ten securities industry examinations and is currently barred from acting as a broker.