FINRA Bars Richard Stanislaus Routie for Refusing to Testify in Customer Loan Investigation
The Financial Industry Regulatory Authority (FINRA) has barred Richard Stanislaus Routie (CRD #4379905) of Orlando, Florida, from associating with any FINRA member firm in any capacity after he refused to appear for on-the-record testimony during a regulatory investigation.
On December 12, 2025, FINRA issued a Letter of Acceptance, Waiver, and Consent (AWC) under Case #2023079368801. Without admitting or denying the findings, Routie consented to the sanction and to the entry of findings.
Investigation into Borrowing from Customers
According to FINRA, the investigation focused on whether Routie borrowed money from customers.
FINRA rules impose strict limitations on borrowing arrangements between brokers and their customers because such relationships can create serious conflicts of interest and increase the risk of financial harm to investors. In many situations, borrowing from customers is prohibited unless specific conditions are met and the arrangement is disclosed to and approved by the brokerage firm.
Refusal to Appear for On-the-Record Testimony
As part of its investigation, FINRA requested that Routie appear for on-the-record testimony.
Under FINRA Rule 8210, registered individuals are required to provide testimony, documents, and information when requested by the regulator during an investigation. According to FINRA’s findings, Routie refused to appear for the requested testimony.
A refusal to comply with a Rule 8210 request is considered a serious violation because it prevents FINRA from fully examining potential misconduct and protecting investors.
As a result of his refusal to cooperate with the investigation, Routie was permanently barred from associating with any FINRA member firm in all capacities.
Risks of Broker Borrowing from Customers
When brokers borrow money from their clients, investors may be exposed to undue pressure, undisclosed conflicts of interest, or financial losses. Regulatory rules are designed to prevent brokers from placing their personal financial interests ahead of their clients’ well-being.
FINRA closely investigates these situations to determine whether improper financial relationships occurred and whether investors were harmed.
Silver Miller Represents Investors in Broker Misconduct Cases
If you believe a broker improperly borrowed money from you or engaged in other forms of financial misconduct, you may have legal options to pursue recovery.
Silver Miller represents investors nationwide in claims involving broker misconduct, conflicts of interest, unauthorized transactions, and supervisory failures. Our attorneys pursue recovery through FINRA arbitration and civil litigation.
Contact Silver Miller for a free, confidential consultation. We work on a contingency fee basis—meaning you pay nothing unless we recover for you.
