Craig Anthony Zabala of New York New York a stockbroker formerly employed by John W. Loofbourrow Associates Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Zabala hindered a FINRA investigation into allegations of him engaging in private securities transactions and outside business activities. Letter of Acceptance Waiver and Consent No. 2019061086301 (Aug. 27, 2019).
According to the AWC, on May 17, 2019, a request was made by FINRA under Rule 8210 for Zabala to produce information and documentation for the regulator in regard to his outside business activities as well as his possible facilitation of securities transactions. The AWC stated that Zabala’s response was expected no later than May 31, 2019. Zabala obtained counsel who procured an extension from FINRA in reference to this request.
The AWC stated that Zabala provided information and documentation to FINRA on June 14, 2019; however, it was not sufficient to resolve the inquiry. On June 30, 2019, Zabala’s legal counsel confirmed that Zabala was not inclined to provide any additional information or documentation to the regulator. FINRA found Zabala’s conduct violative of FINRA Rules 2010 and 8210.
Zabala’s registration with John F. Loofbourrow Associates Inc. has been terminated as of April 29, 2019. Zabala has been associated with at least one securities broker dealer which has been expelled by securities regulators for violation of federal securities laws or is otherwise defunct.
