Louis Tinoco Permanently Barred by FINRA for Falsifying Account Summaries to Hide Losses

Louis Anthony Tinoco Jr., a former Registered Representative with Miami, Florida-based Barclay’s Capital Inc. (Barclay’s), submitted a Letter of Acceptance, Waiver and Consent in which he consented to, but did not admit to or deny, the Financial Industry Regulatory Authority’s (FINRA) sanctions and findings that he provided a false account summary to his customer in order to conceal the losses incurred due to his trading activity. According to FINRA, Louis Tinoco provided his customer with a chart that supposedly reflected the monthly value of the customer’s Barclay’s account. The chart, prepared by Mr. Tinoco, overstated the actual value of the customer’s account by more than $200,000. Additionally, Mr. Tinoco failed to respond to FINRA’s request to appear and provide testimony in connection with their investigation, which is a violation of FINRA Rule 8210. Louis Tinoco, of Miami Beach, Florida, was permanently barred from association with any FINRA member in any capacity.

Continue Reading