Christopher John Tiernan of Marshall Town Iowa a former Farmers Financial Solutions LLC registered representative has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by accusations that he failed to comply with FINRA’s request for information about his possible misconduct. Case No. 2016050691901 (July 27, 2017).
FINRA Public Disclosure confirms that Tiernan was provided notification by FINRA on April 21, 2017 that he would be suspended for failing to cooperate with the regulator. FINRA then suspended Tiernan effective May 18, 2017. Apparently, Tiernan was provided until July 26, 2017 to seek that his suspension be lifted or otherwise cooperate with FINRA’s request. Since Tiernan failed to provide the appropriate documentation to FINRA by the deadline, FINRA barred him in all capacities by July 27, 2017.
Prior to FINRA’s barring of Tiernan, he was sanctioned by Iowa Insurance Division according to an Emergency Adjudicative Order which (1) disallowed Tiernan from taking payment from any actual or prospective customers and (2) required Tiernan to be subject of weekly accountings founded on allegations that Tiernan took possession of a customer’s insurance premiums, neglected to provide those premiums to the insurance company, and then falsified documentation provided to the customer in regards to the customer’s insurance status. Case. No. 89089 (July 29, 2016).
Shortly thereafter, he was fined $9,965.14 and barred by Iowa Insurance Division according to a Decision supported by findings that Tiernan made misrepresentations to a customer regarding insurance premiums, converted the customer’s premiums, and issued the customer phony documentation reflecting that the customer was insured. Case No. 89089 (Apr. 14, 2016).
Tiernans’ registration with Farmers Financial Solutions LLC has been terminated as of December 31, 2015.
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