Chuanbing Rong Suspended by FINRA Over Alleged Unapproved OBA
Chuanbing Rong (CRD #: 6931802), a broker registered with GlobaLink Securities, has been suspended by FINRA, according to his BrokerCheck record, accessed on January 17, 2023. Investors may have also engaged his services through Transglobal Advisory. Read on to learn more about his alleged conduct as a broker.
FINRA Suspension
On December 16, 2022, Chuanbing Rong consented to the entry of findings that he allegedly participated in an unapproved outside business activity between March 2020 and March 2022.
According to a Letter of Acceptance, Waiver & Consent (AWC), Chuanbing Rong and his wife allegedly formed a company in March 2020 to sell insurance and fixed annuities. Chuanbing Rong allegedly served as the company’s vice president and secretary, with duties including selling these products and performing bookkeeping.
During the relevant period, Chuanbing Rong allegedly received a total of approximately $168,000 in compensation from these activities. The AWC alleges that he failed to provide GlobaLink Securities with prior written notice of his relationship with the company and did not disclose his activities until March 2022, following an inquiry from FINRA.
The AWC concludes that this misconduct constituted violations of FINRA Rules 3270 and 2010.
FINRA Rule 3270
FINRA Rule 3270 requires brokers to inform their firm and receive approval for any business activities they engage in beyond their firm.
FINRA Rule 2010
FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.
Sanctions
Chuanbing Rong consented to the following sanctions:
- $5,000 fine
- Two-month suspension
His suspension began on January 17, 2023, and will end on March 16, 2023.
You can read the full AWC here.
Other business activities
Chuanbing Rong’s detailed BrokerCheck page lists the following outside business activities:
- Engineer for Ford Motor Company, providing research and development services.
- Fixed insurance producer for Transpacific Financial, selling fixed insurance products.
- Investment Advisor Representative for Transglobal Advisor, selling fee-based investment products.
- Health insurance agent for Jack Schroeder and Associates.
- Health insurance agent for Rick Young Insurance.
- Registered Representative with Globalink Securities
Background Information
Chuanbing Rong has passed the following exams:
- Series 63 – Uniform Securities Agent State Law Examination
- Series 7TO – General Securities Representative Examination
- SIE – Securities Industry Essentials Examination
- Series 6 – Investment Company Products/Variable Contracts Representative Examination
Chuanbing Rong is a registered broker in California and Michigan. He is also a registered investment adviser in Michigan.
He has also worked for Transamerica Financial Advisors (CRD#:16164).
Kurta Law Can Help
If you worked with Chuanbing Rong and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.
Loading...
Reload document 
Open in new tab