Cavner discloses felony charge to regulatory agency

A week after launching the independent Nadia Cavner Group advisory firm, Springfield financial adviser Nadia Cavner has disclosed her felony charge to the Financial Industry Regulatory Authority.

Cavner - who pleaded guilty April 12 to an interstate stalking charge involving her daughter's ex-boyfriend and new girlfriend - had 30 days to disclose to FINRA both the felony charge and the plea agreement. According to the agency's BrokerCheck portal, Cavner submitted the information by deadline.

Her FINRA profile now displays the pending criminal charge, though it notes the activity is unrelated to financial matters or investment advisory duties.

According to U.S. securities regulations, a felony would statutorily disqualify Cavner from selling securities in the U.S. for 10 years.

FINRA spokeswoman Michelle Ong said this morning Cavner can now opt to appeal disqualification through eligibility proceedings. Ong noted there isn't a timeline for appeals.

According to FINRA, a 10-member statutory disqualification committee comprising eight securities industry members and two nonindustry representatives, would meet after an eligibility hearing to consider the adviser’s application to continue selling securities. The committee then sends its decision to the National Adjudicatory Council, which typically makes the final decision on FINRA’s behalf. However, the FINRA Board of Governors could call the matter for review.  

FINRA’s critical inquiry in every case is the same: “whether the admission of the disqualified person or member would be inconsistent with the public interest and the overriding regulatory goal to ensure the protection of investors.”  

Cavner pleaded guilty April 12 to a felony interstate stalking charge in Memphis, Tenn., admitting she and those she hired intended to  injure, harass or intimidate her college-age daughter’s ex-boyfriend. Two weeks later, BancorpSouth cut ties with the financial adviser, and just days after, Cavner announced plans to launch on May 6 her independent firm, the Nadia Cavner Group. The firm at 2659 E. Normandy St., Ste. 108, operates immediately southeast of the 2620 E. Sunshine St. BancorpSouth branch where she had practiced for eight years.[[In-content Ad]]