Massachusetts’ man’s attempt to avoid CE rules net him a $10,000 fine

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A Beverly, Mass., registered representative was fined $10,000 for using false information to avoid having to complete continuing education courses.

Raymond Paul Gerrior Jr. was also suspended from associating with any FINRA member for 18 months, ending March 7, 2011, for his actions, according to FINRA records.

Gerrior created a falsified letter purportedly from his member insurance company that falsely represented the date he started working for the company, records show.

He submitted the letter to the Massachusetts Division of Insurance to support his argument that he had been licensed by his member firm prior to the date that would have required him to complete additional continuing education courses in Massachusetts, FINRA records show.

Gerrior neither admitted nor denied the allegations, but did consent to FINRA’s findings in the case.

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