Buchanan was barred from association with any FINRA member in any capacity. The sanction was based on findings that Buchanan misused more than $1,523,000 in customer and non-customer funds when he failed to invest the funds in investor certificates, warrants or any other investment. The findings stated that Buchanan provided investors with documents falsely representing confirmation of purchases.  The findings also stated that Buchanan participated in private securities transactions without prior written notice to his member firms. The findings also included that Buchanan failed to respond to FINRA requests for information.

(FINRA Case #2008013001701)