Kenneth Alan Balser, of Colorado Springs, Colorado, a stockbroker formerly registered with Cetera Advisors, has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate in a FINRA investigation into allegations of Balser’s participation in private securities transactions or selling away. Letter of Acceptance, Waiver and Consent, No. 20160507270-01 (Dec. 19, 2016).
According to the AWC, Balser was terminated by Cetera Advisors LLC on July 18, 2016, based upon allegations that Balser took part in private securities transactions – a violation of Cetera’s policies. Subsequently, on November 10, 2016, at which point FINRA pursued an investigation into Balser’s activities, FINRA requested that Balser provide recorded testimony before FINRA personnel on December 2, 2016, according to FINRA Rule 8210.
The AWC stated that on November 14, 2016, Balser was instructed by FINRA, according to Rule 8210, to hand over information and documentation pertaining to the investigation by a November 21, 2016 deadline. Balser apparently received an extension of time to cooperate with FINRA’s request, in which his deadline was pushed back to November 29, 2016.
Evidently, on November 28, 2016, FINRA personnel had been contacted by Balser, in which Balser indicated that he would neither be providing recorded testimony before FINRA, nor handing over information and documentation pertaining to the investigation. As a result, FINRA found that Balser’s conduct was violative of FINRA Rules 2010 and 8210, which resulted in his permanent bar.
Guiliano Law Group
Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.
