New York registered principal fined $12,500 for role in dispute

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A registered principal from Dix Hills, N.Y., was fined $12,500 and suspended by FINRA for 35 days after his role in a dispute with his member firm.

Vincent Patrick McCrudden appealed the FINRA ruling against him, halting the sanctions, pending the resolution of his case.

McCrudden made “threatening, abusive, harassing, coercive, intimidating and/or vulgar communications” to his member firm’s employees in connection with a dispute over expenses, commissions and his FormU5 filing, FINRA records show.

He was found to have used threatening and coercive conduct and a monetary settlement, and inducing his former firm, which was unidentified, to file a misleading and inaccurate FormU5 that stated the reason for his termination as voluntary although he was terminated for cause.

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