Bradley Allen Latting of Lawton Oklahoma a stockbroker formerly registered with State Farm VP Management Corp has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he neglected to comply with FINRA’s investigation into accusations of (1) Latting’s conversion of an elderly customer’s funds and (2) Latting’s designation as a customer’s fiduciary. Letter of Acceptance Waiver and Consent No. 2018057319702 (Apr. 1, 2019).
According to the AWC, State Farm VP Management Corp informed FINRA through a February 5, 2018 Form U5 that it terminated Latting supported by allegations of Latting’s violative conduct. The AWC stated that Latting was eventually investigated by FINRA personnel, who were evaluating whether Latting had converted or somehow comingled assets of a customer of State Farm VP Management Corp’s insurance or banking affiliates. Latting was also investigated for potentially omitting information about being designated as an agent of the customer.
The AWC stated that a letter had been sent to Latting from FINRA under Rule 8210, mandating that Latting provide recorded testimony concerning his activities with the customer. Apparently, Latting was expected to make an appearance before FINRA personnel on March 14, 2019. FINRA indicated that Latting was warned that his failure to testify would be conduct violative of FINRA Rule 8210 and this could result in him being barred by FINRA in all capacities. Nonetheless, Latting reportedly contacted FINRA’s Department of Enforcement on March 4, 2019, confirming that he knew about FINRA’s request and would at no point make any appearance to testify. FINRA found Latting’s lack of cooperation in this respect to be violative of FINRA Rules 2010 and 8210. Latting was barred from the securities industry by FINRA as a result.
Latting’s registration with State Farm VP Management Corp. was terminated on February 5, 2018.
