Glenn Donnell: FINRA Suspends Ex-Sigma Financial Advisor

Former Crystal River, Florida financial advisor Glenn Donnell (CRD# 2239397) was recently suspended and fined in connection with alleged rule violations. Financial Industry Regulatory Authority records show that he was most recently registered as a broker with Sigma Financial Corporation.

A Letter of Acceptance, Waiver, and Consent (No. 2021072340501) issued in August 2024 describes FINRA’s disciplinary action against Mr. Donnell. As it explains, between July 2019 and January 2023 he exercised discretion in eleven customer accounts, effecting 280 transactions. During the period in question, he was registered with Sigma Financial, Securities America, and Investacorp. “Although the customers had given [Mr.] Donnell express or implied authority to exercise discretion in their accounts,” FINRA found, “none of the customers provided written authorization for [Mr.] Donnell to exercise discretion.” FINRA found that he violated his firms’ written supervisory procedures as well as FINRA rules, including Rule 3260 and 2010.

Furthermore, the Letter states, he “mismarked at least 1,100 solicited trades, all in marijuana securities, which trade over the counter, as unsolicited,” causing his member firms to maintain inaccurate books and records in violation of FINRA rules. In connection with these findings, FINRA suspended him for four months and issued him a fine of $12,500.

According to the Financial Industry Regulatory Authority, Glenn Donnell holds 31 years of securities industry experience. Most recently based in Crystal River, Florida, he was registered with Sigma Financial Corporation from 2021 until 2023. His past registrations include Securities America, Investacorp, Merrill Lynch, Argus Securities, and Chatfield Dean & Company. His credentials include the passage of seven securities industry qualifying exams: the General Securities Principal Examination, or Series 24; the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Investment Company Products/Variable Contracts Representative Examination, or Series 6TO; the Investment Banking Registered Representative Examination, or Series 79TO; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is not currently licensed with any state or broker-dealer firm. (Information current as of August 18, 2024.)

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