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Wells Fargo Broker Permanently Barred by FINRA for Outside Business Activities

Valentino Infante, a former General Securities Registered Representative with the Miami, Florida office of Wells Fargo Advisors, LLC (Wells Fargo), has been permanently barred from acting as a broker or otherwise associating with firms that sell securities to the public by the Financial Industry Regulatory Authority (FINRA) due to findings that he engaged in outside business activities without providing his member firm with prior written notice and for failing to appear at a FINRA on-the-record interview.

According to FINRA, Valentino Infante, of Miami, Florida, established a limited liability company in Florida and, on two occasions, solicited a Wells Fargo customer to provide funding for the business. Mr. Infante neglected to obtain his member firm’s approval to engage in the outside business activities, as required by FINRA Rule 3270.

FINRA also found that Mr. Infante falsely answered a question on his annual compliance questionnaire, which asked if he was “currently engaged in any outside activity either as a proprietor, partner, officer, director, trustee, employee, agent or otherwise” to which Mr. Infante answered “no.”

Due to the above-mentioned misconduct and for failing to appear and provide FINRA-requested testimony in an on-the-record interview, Valentino Infante was barred from association with any FINRA member in any capacity and ordered to pay $2,300, plus interest, in restitution to the customer.

Attorney Pearce began his career at the SEC as an enforcement attorney more than 35 years ago. His SEC, FINRA, CFTC and Florida OFR defense law practice clients have included public companies and their officers and directors, broker-dealers, investment advisors, and individuals being investigated in connection with their personal securities transactions. He has broad, extensive experience in matters related to alleged violations of FINRA rules and firm policies and procedures, as well as 10b-5 fraud violations including, “insider trading,” Section 16(b) “short swing profit,” and Section 14 “proxy rule” violations, and Section 9 “market manipulation” cases.

Have you have been contacted by FINRA, the SEC, CFTC and/or the Florida OFR and believe that you may be the subject of an investigation? If so, call Mr. Pearce at the Law Offices of Robert Wayne Pearce, P.A. for a free consultation. Mr. Pearce defends various entities and individuals who may be the subject of an investigation or enforcement action regarding their alleged involvement in securities or commodities laws violations.

This Investors’ Rights blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida. For over 35 years, Attorney Pearce has tried, arbitrated, and mediated hundreds of disputes involving complex securities, commodities and investment law issues. The lawyers at our law firm are devoted to representing investors and financial industry professionals throughout the United States and internationally! Please visit our website, www.secatty.com, post a comment, call (800) 732-2889, or email Mr. Pearce at pearce@rwpearce.com for answers to any of your questions about this blog post and/or any related matter.