Anthony Cheng: FINRA Bars Fired Ameritas Advisor

Former San Jose financial advisor Anthony Cheng (CRD# 6242405) was recently sanctioned and barred in connection with alleged rule violations. Financial Industry Regulatory Authority records show that he was most recently registered as a broker with Ameritas Investment Company, doing business as Thrive Wealth Solutions.

A Letter of Acceptance, Waiver, and Consent (No. 2025087880501) describes FINRA’s disciplinary action against Mr. Cheng. Filed in February 2026, it states that he refused to cooperate with an investigation “into whether he engaged in undisclosed outside business activities.”As part of this investigation, FINRA sent him a request to provide information and documents, including “financial records potentially pertaining to undisclosed outside business activities.” The Letter notes that FINRA Rule 8210 gives the agency authority to require persons under its jurisdiction to provide such information, while also providing that such individuals shall not fail from complying with these requests.

Mr. Cheng allegedly indicated to FINRA via email that he would not produce the requested information or documents. FINRA found that his refusal constituted a violation of Rule 8210 as well as Rule 2010, which requires persons associated with FINRA to “observe high standards of commercial honor and just and equitable principles of trade” as they conduct their business. As a result of these findings, FINRA barred him from associating with any FINRA member firm in any capacity.

Mr. Cheng’s BrokerCheck report discloses his termination from Ameritas Investment Company. Filed in May 2025, the disclosure states that the firm fired him in connection with allegations that he failed to follow firm “Policies and Procedures regarding a Private Securities Transaction (selling away) and unreported Outside Business Activity.”

According to the Financial Industry Regulatory Authority, Anthony Cheng holds 11 years of securities industry experience. Most recently based in San Jose, California, he was last registered as a broker with Ameritas Investment Company from 2015 until 2025, doing business as Thrive Wealth Solutions. His registration history includes Pruco Securities and Waddell & Reed. His credentials include the passage of three securities industry qualifying exams: the Securities Industry Essentials Examination, or SIE; the Uniform Combined State Law Examination, or Series 66; and the General Securities Representative Examination, or Series 7. He is no longer licensed as a broker. (Information current as of February 6, 2026.)

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