Jose Luis Leon, of Palmetto Bay, Florida, submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) for allegedly violating NASD Rule 3010 and FINRA Rule 2010.
Leon was employed with BAC Florida Investments Corp. (BAC Florida) from December 1987 until his termination in February 2017. During the period between July 2013 and November 2014, Leon served as BACs Chief Compliance Officer. Leon was responsible for supervising and reviewing the trading activities of the firm’s former CEO and Head Trader. The findings stated that the Fixed Income Investigation staff of FINRA’s Department of Market Regulation reviewed certain fixed income securities transactions that BAC Florida made through its former CEO and Head Trader. FINRA investigated Leon’s supervision over the former CEO and Head Trader’s trading activities. According to FINRA, Leon failed to supervise and review the prohibited trading activities of both the CEO and Head trader, instead he allowed them to review their own activities. Continue Reading