FINRA rule 2010

Former Valic Financial Advisors, Inc. Broker, Enoch Booth, BARRED by FINRA – Columbia, South Carolina

Published on: July 21, 2021 | by Iorio Altamirano

The Financial Industry Regulatory Authority (“FINRA”) has barred financial advisor Enoch Booth from the securities industry for refusing to cooperate with a FINRA investigation into whether Mr. Booth engaged in unauthorized private securities transactions and outside business activities. FINRA launched the investigation after Valic Financial Advisors, Inc. terminated Mr. Booth’s employment in December 2020 and alleged that Mr. Booth failed to disclose a series of private securities transactions, failed to disclose a self-directed IRA, and provided gift cards to clients in violation of firm policy. Mr. Booth was associated with Valic Financial Advisors, Inc. in Columbia, South Carolina, from May 2001, until December 2020.

When a financial advisor participates in a private securities transaction that is not approved by a firm, it is referred to as “selling away.” The prohibitions on selling away are designed to protect investors by ensuring that all brokers’ activities are reasonably supervised by firms that employ them. Further, securities that are sold away from a firm have not been vetted by the firm.

Customers of Mr. Booth or Valic Financial Advisors, Inc. that have suffered financial losses can contact New York securities arbitration law firm Iorio Altamirano LLP for a free and confidential consultation and review of their legal rights.

NEXT Financial Group, Inc. Fined by FINRA – Houston, TX

Published on: July 14, 2021 | by Iorio Altamirano

FINRA has fined and censured NEXT Financial Group, Inc. (“NEXT”) over supervisory failures related to unsuitable short-term trading of mutual funds and municipal bonds, and over-concentration of customer accounts in Puerto Rican municipal bonds.

NEXT was fined $750,000 and consented to provide a certification to FINRA, within 120 days, regarding the implementation of reasonably designed procedures to address its supervisory failures.

Iorio Altamirano LLP represents investors nationwide that have disputes with their financial advisors or brokerage firms, such as NEXT Financial Group, Inc.

GWN Securities Broker, Ronald Giovino, Barred by FINRA – Clearwater, Florida

Published on: July 9, 2021 | by Iorio Altamirano

The Financial Industry Regulatory Authority (“FINRA”) has barred financial advisor Ronald Giovino from the securities industry for refusing to cooperate with a FINRA investigation into whether Mr. Giovino converted customer funds. FINRA launched the investigation after it received information through the FINRA Securities Helpline for Seniors. Mr. Giovino has been registered with GWN Securities Inc. in Clearwater, Florida, since March 2004.

Customers of Mr. Giovino or GWN Securities Inc. can contact New York securities arbitration law firm Iorio Altamirano LLP for a free and confidential consultation and review of their legal rights.

Iorio Altamirano LLP represents investors nationwide that have disputes with their financial advisors or brokerage firms, such as GWN Securities Inc.

Popular Securities, LLC Broker Fernando Luis Monllor Suspended by FINRA – Ponce, PR

Published on: July 8, 2021 | by Iorio Altamirano

FINRA has suspended Popular Securities, LLC broker Fernando Luis Monllor from the securities industry for 30 business days for using a pre-signed Letter of Authorization (LOA) from a customer to transfer assets among the customer’s accounts. Monllor’s suspension is scheduled to start on August 2, 2021, and end on September 13, 2021. He was also fined $5,000.

If you have lost money with Fernando Luis Monllor, or Popular Securities, LLC, contact FINRA arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.

Iorio Altamirano LLP represents investors nationwide that have disputes with their financial advisors or brokerage firms, such as Popular Securities, LLC.

Former Wells Fargo Broker, Tyler Rigsbee, Barred by FINRA

Published on: July 7, 2021 | by Iorio Altamirano

The Financial Industry Regulatory Authority (“FINRA”) has barred financial advisor Tyler Rigsbee from the securities industry for refusing to cooperate with a FINRA investigation. FINRA launched the investigation after Wells Fargo terminated Mr. Rigsbee in April 2021 and alleged that he “was terminated during the course of an internal review where documents appear to show that client funds were received in his personal bank account after being transferred from Wells Fargo to a third-party broker-dealer, and then to his bank account, without permission from clients.”

Mr. Rigsbee was associated with Wells Fargo Clearing Services, LLC in Sacramento, CA, from October 2016 until April 2021.

Customers of Mr. Rigsbee or Wells Fargo can contact New York securities arbitration law firm Iorio Altamirano LLP for a free and confidential consultation and review of their legal rights.

Bloomington, Minnesota Financial Advisor, John Swon, Formerly of Royal Alliance Associates and Focus Financial, Barred by FINRA

Published on: July 6, 2021 | by Iorio Altamirano

The Financial Industry Regulatory Authority (“FINRA”) has barred financial advisor John Swon from the securities industry. Mr. Swon was expelled from the brokerage industry for refusing to cooperate with a FINRA investigation. FINRA launched the investigation after a customer complained that Mr. Swon misappropriated or mismanaged funds entrusted to him as an investment advisory representative of Focus Financial Network, Inc.

Mr. Swon was associated with both brokerage firm Royal Alliance Associates, Inc. and registered investment advisor Focus Financial in Bloomington, MN, from October 2012 until he was discharged by both firms in April 2021 for allegedly violating the firms’ policies regarding disclosure and approval of outside business activities.

Customers of Mr. Swon or Royal Alliance Associates, Inc., can contact New York securities arbitration law firm Iorio Altamirano LLP for a free and confidential consultation and review of their legal rights.

Medford, Oregon Financial Advisor, Juan Ceja, Formerly of PFS Investments Inc, Barred by FINRA

Published on: July 6, 2021 | by Iorio Altamirano

The Financial Industry Regulatory Authority (“FINRA”) has barred stockbroker Juan Ceja from the securities industry. Mr. Ceja was expelled from the brokerage industry for refusing to cooperate with a FINRA investigation. FINRA launched the investigation after PFS Investments, Inc. discharged Mr. Ceja in February 2021 and alleged that he “submitted term life insurance applications with questionable and/or invalid information.” Mr. Ceja was associated with PFS Investments, Inc. in Medford, Oregon, from December 2000 until February 221.

Customers of Mr. Ceja or PFS Investments, Inc., can contact New York securities arbitration law firm Iorio Altamirano LLP for a free and confidential consultation.

Iorio Altamirano LLP represents investors nationwide that have disputes with their financial advisors or brokerage firms, such as PFS Investments Inc.

Broker Daniel Jossen, Formerly with NYLIFE Securities LLC, BARRED by FINRA – Bethesda, MD

Published on: July 2, 2021 | by Iorio Altamirano

FINRA has barred former NYLIFE Securities LLC broker Daniel Jossen from the securities industry. Mr. Jossen was expelled from the brokerage industry for failing to the provide information requested by FINRA pursuant to Rule 8210, in violation of Rules 8210 and 2010.

If you have lost money with Daniel Jossen, or NYLIFE Securities LLC, contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.

FINRA Letter of Acceptance, Waiver, and Consent

Broker George Louis McCaffrey III, Formerly with NTB Financial Corporation, BARRED by FINRA – Englewood, CO

Published on: July 2, 2021 | by Iorio Altamirano

FINRA has barred former NTB Financial Corporation (“NTB”) broker George Louis McCaffrey III from the securities industry. Mr. McCaffrey was expelled from the brokerage industry for providing false information to FINRA during a prior investigation and for participating in $270,000 of private securities transactions without prior written disclosure to and approval from his firm.

If you have lost money with George Louis McCaffrey III, or NTB Financial Corporation, contact New York securities arbitration lawyers Iorio Altamirano LLP for a free and confidential evaluation of your account.

FINRA Letter of Acceptance, Waiver, and Consent

Broker Cesar Gabriel Hernandez, Formerly with Gentem Capital, BARRED by FINRA – Miami, FL

Published on: June 29, 2021 | by Iorio Altamirano

FINRA has barred former Gentem Capital broker Cesar Gabriel Hernandez from the securities industry. Mr. Hernandez was expelled from the brokerage industry for refusing FINRA’s request to appear for on-the-record testimony pursuant to FINRA Rule 8210.

Previously, on October 19, 2010, FINRA had accepted AWC No. 2009016158801, in which Mr. Hernandez consented to a three-month principal capacity suspension and a $25,000 fine for violations of NASD Rules 3011(a) and (b) and 2110 and FINRA Rule 2010.

Without admitting or denying the findings, Mr. Hernandez agreed to the entry of findings that he failed to adequately implement the firm’s Anti-Money Laundering (AML) compliance program and also failed to establish and implement an adequate customer identification program.