The Financial Industry Regulatory Authority (FINRA) has suspended an Alabama financial advisor for five months and fined him $5,000, after he failed to disclose his arrest on child sexual abuse charges last year.

According to documents with FIRA, Thomas Alvin Vernor III, 77, of Huntsville, did not disclose his arrest in May 2022 on charges of sexual contact with a child under the age of 12.

FINRA, a private organization authorized by the U.S. government, regulates and registers brokers and brokerage firms.

Vernor, who was indicted last year by a Madison County grand jury, was investigated by Huntsville police. He is scheduled in Madison County Court before Judge Karen Hall August 14, according to court records.

Financial advisors are required to disclose on their Securities and Exchange Commission Investment Adviser Public Disclosure forms any arrest, according to documents.

Without admitting or denying the findings, Vernor consented to the sanctions and to the finding “that he willfully failed to amend” a disclosure form.