Noel Carino of Blue Springs, Missouri submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he has been barred for allegedly refusing to provide documents and information requested violating FINRA Rules 8210 and 2010.
From August 2006 until October 2017, Carino was registered with General Securities Corp. as a General Securities Representative. According to FINRA, Carino violated FINRA Rules 8210 and 2010 by failing to provide documents and information requested. FINRA stated that Carino refused to provide information during a FINRA investigation into whether he engaged in outside business activities without written notice to his firm, whether he engaged in private securities transactions, and whether he reported all outside brokerage accounts in which he had an interest in the firm. FINRA further stated that they sent out two letters on separate dates to acquire the information requested and Carino allegedly failed to comply both times.
Without admitting or denying FINRA’s findings, Noel Carino consented to the sanctions and has been barred from association with any FINRA member in all capacities.
Stockbrokers have been known to engage in many practices that may violate industry and firm rules, practices, and procedures. In order to protect investors from stockbroker misconduct, FINRA rules require brokerage firms to establish and implement a supervisory system. The implementation of these industry rules requires supervisors to monitor their employees to ensure compliance with federal and state securities laws, securities industry rules and regulations, and the brokerage firm’s own policies and procedures. If broker-dealers and/or their supervisors fail to establish and implement these protective measures, they may be liable to investors for damages which flow from the broker’s misconduct. Therefore, investors who have suffered losses stemming from misconduct by their broker can file claims to recover damages against broker-dealers, like General Securities Corporation, which should consistently oversee its brokers’ activities in order to prevent the above-described misconduct.
Have you suffered losses in your General Securities Corp. account due to misconduct by your broker? Was Noel Carino your stockbroker? If so, call Robert Pearce at the Law Offices of Robert Wayne Pearce, P.A. for a free consultation. Mr. Pearce is accepting clients with valid claims against General Securities Corp. stockbrokers who may have engaged in broker misconduct and caused investors’ losses.
The most important of investors’ rights is the right to be informed! This Investors’ Rights blog post is by the Law Offices of Robert Wayne Pearce, P.A., located in Boca Raton, Florida. For over 40 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 protecting investors’ rights 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 email@example.com for answers to any of your questions about this blog post and/or any related matter.