Louis Anthony Tinoco Jr. formerly associated with Barclays Capital was barred from the securities industry for life as a result of his failure to cooperate with an investigation by the Financial Industry Regulatory Authority.
FINRA’s Findings
FINRA found that Tinoco during his association with Barclays Capital engaged in fraud by providing at least one customer with a false account summary concealing trading andoverstating the value of the customer’s account by more than $200,000.
Barclays Capital fired Tinoco’s in June 2013 and told regulators that he was terminated due to “sales practice concerns involving certain accounts.” Since that time Barclays Capital has been subject to at least a half of dozen customer initiated, investment related complaints totaling several million dollars, and all of which allege unauthorized trading by Tinoco.
Absent Written Discretion
Absent written discretion, it is a violation of Section 10(b) of the Exchange Act, and Rule 10b-5, as promulgated thereunder, to effect transactions in customer accounts without their prior authorization or consent.
Tinoco’s customers ought to consult with counsel to determine their legal rights.
Guiliano Law Group
Our practice is limited to the representation of investors in claims, for fraud in connection with the sale of securities, the sale or recommendation of excessively risky or unsuitable securities, breach of fiduciary duty, and the failure to supervise. We accept representation on a contingent fee basis, meaning there is no cost to unless we make a recovery for you, and there is never any charge for a consultation or an evaluation of your claim. For more information contact us at (877) SEC-ATTY.
