FINRA has suspended former Finalis Securities advisor Deyon Robertson for five months and fined him $10,000 after regulators found he recommended an illiquid private fund that later refused a customer’s hardship withdrawal. The settlement, filed October 21, 2026, also orders $2,400 in partial restitution.
What happened in the Robertson case
Robertson, a New York City advisor registered with Finalis Securities from 2023 to 2025, accepted a Letter of Acceptance, Waiver, and Consent resolving two violations. FINRA’s findings center on a January 2024 recommendation and a July 2024 side venture that his firm never approved.
His industry record was short. He held roughly two years of securities industry experience, according to FINRA, after a four-month stint at Citigroup Global Markets in San Francisco in 2022.
The customer who could not get her money back
In January 2024, FINRA found, Robertson recommended that one retail customer invest more than 25 percent of her liquid net worth in an illiquid private fund. The fund used investor money to buy interests in other funds that invested in residential real estate.
The fund intended to make quarterly distributions but had no obligation to pay them. Its own offering memo stated that interests should be purchased only by investors with no need for liquidity.
The customer did not fit that profile. Her finances made it likely she would need access to her funds if her situation worsened, the settlement states. When she later sought a withdrawal due to financial hardship, she was unable to get her money.
FINRA ruled the recommendation was not in the customer’s best interest. That finding marks a willful violation of Regulation Best Interest under Exchange Act Rule 15l-1(a)(1), along with FINRA Rule 2010.
An undisclosed house-flipping solicitation
The second violation dates to July 2024. Robertson solicited three Finalis customers to each invest $44,000 in a limited liability company he created to acquire, renovate, and sell a residential property.
He never gave Finalis prior written notice of the deal, the settlement states. That conduct violated FINRA Rule 3280, which governs private securities transactions, and Rule 2010.
Key facts from the FINRA settlement
| Item | Detail |
| Advisor | Deyon Robertson, CRD# 7493659 |
| Firm | Finalis Securities, New York, New York (2023-2025) |
| Case number | AWC No. 2024080112401 |
| Action date | October 21, 2026 |
| Conduct | Illiquid private fund recommendation plus undisclosed private securities transaction |
| Rules violated | Exchange Act Rule 15l-1(a)(1) Reg BI; FINRA Rules 3280, 2010 |
| Sanctions | Five-month suspension, $10,000 fine, $2,400 partial restitution |
| Side investment | $44,000 per customer, three customers solicited |
| Prior firm | Citigroup Global Markets, San Francisco (June-September 2022) |
| Licensing exams | SIE, Series 79TO, Series 7, Series 63 |
Red flags investors should notice
This case carries three warnings worth remembering. A single illiquid fund should rarely swallow a quarter of anyone’s liquid net worth, and concentration at that level signals suitability trouble.
Second, language in an offering memo cuts both ways. When a document says a fund suits only investors with no need for liquidity, an advisor must match that limit to the customer’s actual finances, not the sales pitch.
Third, a personal side deal pitched to brokerage customers without the firm’s knowledge leaves investors without the firm’s review, disclosures, and safeguards. Rule 3280 exists because those deals carry risks customers cannot see.
What affected investors can do now
Robertson’s BrokerCheck report lists the suspension, fine, and restitution. Current and former Finalis customers who invested in the private fund or the property venture can pull their statements and compare dates against the AWC timeline.
Investors who suffered losses tied to unsuitable illiquid investments may wish to consult a securities attorney about recovery options through FINRA arbitration.
Frequently asked questions about the Deyon Robertson suspension
Who is Deyon Robertson? A former New York City advisor registered with Finalis Securities from 2023 to 2025, CRD# 7493659, with about two years of industry experience.
Why was Deyon Robertson suspended? FINRA found he recommended an illiquid private fund that took over 25 percent of a customer’s liquid net worth and solicited a $132,000 house-flipping investment without telling his firm.
How long is the Deyon Robertson suspension? Five months in all capacities, plus a $10,000 fine and $2,400 in partial restitution, under AWC No. 2024080112401.
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This article is for informational purposes only and does not constitute legal advice. Case details are drawn from public FINRA disciplinary documents.
