FINRA Bars Former Cetera Advisor Network Colorado Broker for Refusing to Appear for Requested TestimonyWednesday, February 13, 2019
On February 6, 2019, the Financial Industry Regulatory Authority (FINRA) Department of Enforcement approved a Letter of Acceptance, Waiver and Consent (AWC) submitted by former Cetera Advisor Networks (Cetera) registered representative Mitchell Bloom for refusing to appear for testimony pursuant to FINRA Rule 8210.
According to his FINRA BrokerCheck report, Bloom was associated with Cetera in Westminster, Colorado from February 2011 to November 2017. Bloom was discharged from the firm after allegedly violating the firm’s policies by participating in private securities transactions and engaging in outside business activity without Cetera’s approval.
Shortly after his termination, Cetera sent a Form U5 to FINRA stating the reason for his discharge and subsequently sent Bloom a request, pursuant to FINRA Rule 8210 for on-the-record testimony. On January 22, 2019, Bloom acknowledged, through his counsel’s email, that he received the request and would not appear for testimony at any time. Based on the foregoing, Bloom violated FINRA Rule 8210 and 2010.
By signing the AWC, Mitchell Bloom consented, without admitting or denying the allegations made against him, to a bar from associating with any FINRA member firm in any capacity.
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