Norman R. Sicard Jr. of West Des Moines Iowa a stockbroker formerly employed by Broker Dealer Financial Services has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he failed to cooperate with FINRA’s investigation into accusations of him making unsuitable investment recommendations and borrowing funds from a firm customer. Letter of Acceptance, Waiver and Consent, No. 2016049841901 (May 9, 2018).
According to the AWC, Sicard was sent a request from FINRA on February 20, 2018, wherein Sicard was called upon to provide recorded testimony pertaining to allegations of Sicard’s misconduct. The AWC stated that Sicard corresponded with FINRA on March 9, 2018, where he confirmed to having received FINRA’s request but declined to provide FINRA with recorded testimony. Sicard’s conduct was found by FINRA to be violative of FINRA Rules 2010 and 8210.
FINRA Public Disclosure confirms that a customer initiated investment related arbitration claim pertaining to Sicard’s conduct was resolved for $450,000.00 in damages founded on accusations that the customer sustained undue investment losses on exchange traded funds, stock, over-the-counter equities and both fixed and variable annuities.
Sicard’s registration with Broker Dealer Financial Services was terminated on December 15, 2016.
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