FINRA Bars CUSO Financial Services Broker upon Refusal to Appear for On-the-Record TestimonyFriday, January 3, 2020
On December 10, 2019, the Financial Industry Regulatory Authority (FINRA) Department of Enforcement approved a Letter of Acceptance, Waiver and Consent (AWC) submitted by former registered representative Gerald “JT” Coyne to resolve allegations of violating securities industry rules.
Coyne was most recently associated with CUSO Financial Services, L.P. in Harrisburg, Pennsylvania from January 2011 to September 2018. According to the AWC, the firm stated in the Form U5 that he was discharged for “client service issues and violations of firm policy.” Shortly thereafter, FINRA Department of Enforcement began investigating this allegation. When FINRA requested on-the-record testimony concerning these allegations, Coyne refused to provide any testimony, in violation of FINRA Rule 8210 and 2010.
Without admitting or denying allegations made against him, and for refusing to appear for on-the-record testimony, FINRA barred Coyne from associating with any FINRA member firm in any and all capacities.
Many times, brokerage firms can be held liable if they failed to supervise a broker who committed misconduct while registered at their firm. If you lost money due to your broker’s bad advice, call us at 1-877-410-8172 for a free, no obligation consultation. Since 1998, we have been fighting for victims of broker misconduct and investment fraud.