Articles Posted in FINRA Membership Suspended

Michael Quiles of LPL Financial was suspended by FINRA.

Michael Quiles, a registered representative from Commack, NY, formerly with LPL Financial, Metlife Securities and AXA Advisors was suspended from FINRA membership.  In February, 2016 he was discharged from LPL after receiving a loan from a non client, a violation of LPL’s policy.

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

Chris Cervino was barred by FINRA and the SEC over VGTL transactions

Chris Cervino, a registered representative from Franklin Lakes, New Jersey, formerly with Primary Capital, Cor Clearing and Wilson-Davis Co. was barred from FINRA membership as a result of SEC proceedings into his role in manipulating the market for VGTL.  According to the SEC, Cervino committed securities fraud by controlling and manipulating the market for VGTel, inflating the price and volume, and inducing investors to purchase VGTL shares through false and misleading statements.  On March 22, 2017 a jury found Cervino guilty of engaging in manipulative and deceptive conduct pertaining to the VGTL transactions. As a result, Cervino was barred from the securities industry.

Chris Cervino’s registration and disciplinary history

FINRA suspended and barred rep Brian Kennison.

Brian Kennison, a registered representative from Portland, Oregon, formerly with U.S. Bancorp Investments was barred from FINRA membership as a result of refusing to cooperate with a FINRA investigation.  In July, 2016 he was discharged from US Bancorp based on allegations that he misappropriated client funds. That same month the firm settled a customer complaint alleging that Kennison improperly took $40,000 from a customer’s account.  The firm paid back the entire amount in full and discharged Kennison.

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

Troy Baldridge was suspended and barred by FINRA

Troy Baldridge, a registered representative from Richmond, Virginia, formerly with Capital Securities Management and Capital Securities & Associates was barred from FINRA membership as a result of refusing to cooperate with a FINRA investigation.  In August, 2016 he was discharged from the firm under allegations of check fraud.  That same month the U.S. Dept. of Justice opened an investigation into allegations of check fraud.

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

FINRA suspends, bars Cheryl Lynn Wallace.

Cheryl Lynn Wallace, a registered representative from Henderson, Nevada, formerly with Ameriprise Financial and Edward Jones was barred from FINRA membership as a result of refusing to cooperate with a FINRA investigation.  Wallace was discharged from Ameriprise after allegations that she failed to follow clients’ instructions and exercised discretion in a client’s account without proper approval.

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

FINRA suspends, bars Donald Toomer

Donald Toomer, a registered representative from Henderson, Nevada, formerly with Wells Fargo Advisors was barred from FINRA membership as a result of refusing to cooperate with a FINRA investigation.  Toomer had previously been charged by the SEC with enagaging in securities fraud.  The allegations pertain to a pump and dump scheme in microcap stocks. In addition, Toomer resigned from Wells Fargo Advisors with allegations asserted that he violated the federal securities laws.

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

John Ezmat was suspended then barred by FINRA

John Ezmat, a registered representative from Oakland, New Jersey, formerly with AXA Advisors in Verona, NJ was barred from FINRA membership as a result of refusing to cooperate with a FINRA investigation.  He was later barred by the organization.

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

Charles DeNormandie, a registered representative from Alpharetta, Georgia formerly with Commonwealth Financial Network and Ameriprise Financial Services was barred from FINRA membership as a result of refusing to cooperate with a FINRA investigation.

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

This FINRA rule provides if a FINRA member fails to provide information or testimony requested or required by FINRA’s By-Laws or FINRA rules, or fails to keep his or her membership and supporting documents current, FINRA, after providing  21 days’ notice may suspend the FINRA membership of the person.

Sandra Canaba, a registered representative from Santa Teresa, New Mexico formerly with LPL Financial and Chase Investment Services was barred from FINRA membership as a result of refusing to cooperate with a FINRA investigation.

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

This FINRA rule provides if a FINRA member fails to provide information or testimony requested or required by FINRA’s By-Laws or FINRA rules, or fails to keep his or her membership and supporting documents current, FINRA, after providing  21 days’ notice may suspend the FINRA membership of the person.

Amanda Burnett, a registered representative from Decatur, Georgia formerly with Invest Financial Corporation was barred from FINRA membership as a result of refusing to cooperate with a FINRA investigation.

FINRA Rule 9552. Failure to Provide Information or Keep Information Current

This FINRA rule provides if a FINRA member fails to provide information or testimony requested or required by FINRA’s By-Laws or FINRA rules, or fails to keep his or her membership and supporting documents current, FINRA, after providing  21 days’ notice may suspend the FINRA membership of the person.

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