Cesar Manuel Casado, of Waltham, Massachusetts, a stockbroker formerly registered with NYLIFE Securities LLC, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity. This follows Casado’s refusal to provide information and documents requested by FINRA in connection with its investigation into allegations that he falsified life insurance applications. Letter of Acceptance, Waiver, and Consent No. 2024082919601 (February 13, 2025).
According to the AWC, FINRA’s investigation originated from its review of an amended Form U5 filed by NYLIFE Securities LLC on July 30, 2024. The securities broker dealer initially reported that Casado had voluntarily resigned on July 15, 2024. However, the amended filing indicated that Casado was permitted to resign after an internal review found a pattern of life insurance applications submitted by Casado and his agents that contained inaccurate information.
In connection with this investigation, on October 23, 2024, FINRA requested Casado provide information and documents under FINRA Rule 8210. Casado failed to respond to the request by the deadline. Subsequently, on February 4, 2025, Casado’s lawyer informed FINRA that Casado had received the request but would not produce the requested information or documents.
By refusing to comply with FINRA’s request, Casado violated FINRA Rule 2010 and Rule 8210, which requires stockbrokers to provide information in FINRA investigations.
Casado was associated with NYLIFE Securities LLC in Waltham, Massachusetts, from November 4, 2014, to July 24, 2024.
