Finra Alleges Misconduct by Executives at Failed Fintech Synapse

Another financial watchdog is investigating misconduct allegations against executives at Synapse Financial Technologies Inc., the failed financial-technology firm whose collapse left customers locked out of their savings accounts for months.

The Financial Industry Regulatory Authority is looking into Mark Paverman, the former chief compliance officer at Synapse’s brokerage arm, and that unit’s former president and chief executive officer, Jeffrey Stanley, according to an Aug. 28 complaint.