[T]he Government concedes that FINRA is "technically a private entity." The Government nevertheless argues that FINRA's order qualifies because FINRA "mirrors the typical governmental oversight body with respect to its responsibilities, authority, and procedure" and the SEC has formally tasked it with regulating the securities industry, "including conducting enforcement actions against individuals." Further, the Government emphasizes the plain error standard of review and urges that Blount's inability to cite Fifth Circuit precedent supporting his argument demonstrates that even if applying the administrative order enhancement to the FINRA order were error, it was certainly not a plain error.

[W]hether Blount calls the investments he peddled insurance, annuities, or magic beans, they are substantively securities for the purposes of the Securities Exchange Act. 

Finally, to further rebut a conclusion that he violated the FINRA order by selling securities, Blount argues that his activity did not violate the order because that order was "imposed in his capacity as a licensed securities dealer working for a brokerage firm," but at the time of the offense, he operated "under an insurance license . . . and worked for himself." This practically redundant argument is likewise unpersuasive. FINRA's order does not bar Blount merely from working as a licensed broker affiliated with a brokerage firm, it further bars him from "associating with any [FINRA] member in any capacity." The fact that Blount was not affiliated with a brokerage firm at the time of the offenses is of no consequence. Blount violated FINRA's order when he advertised and sold financial products that meet the federal definition of "security." 

Still further, Blount's plea agreement and sworn statements amount to an unambiguous admission that he sold securities in violation of the FINRA order . . .