Infinity Financial Services

05/05/2026: From June 2019 to the present, Infinity failed to establish and maintain a supervisory system, including written supervisory procedures (WSPs), reasonably designed to surveil rates of deferred variable annuity exchanges. Additionally, between June 2019 and February 2020, Infinity failed to reasonably supervise a former registered representative’s unsuitable variable annuity exchange and purchase recommendations. As a result, Infinity violated FINRA Rules 3110, 2330, and 2010. For these violations, Infinity is censured, fined $25,000, ordered to pay restitution of $25,436, and has agreed to an undertaking.

Reference 2020065124802data-portal.finra.orgfinra.org

12/08/2020: FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT NO. 2016047845201 TO: Department of Enforcement Financial Industry Regulatory Authority (FINRA) RE: Infinity Financial Services (Respondent) Member Firm CRD No. 144302 Pursuant to FINRA Rule 9216, Respondent Michael Edward Magill submits this Letter of Acceptance, Waiver and Consent (AWC) for the purpose of proposing a settlement of the alleged rule violations described below.

Reference 2016047845201data-portal.finra.orgfinra.org