Cullen David Factor (also known as David James Biberman and as Cullen Austin Factor), of Wellesley Hills, Massachusetts, a stockbroker registered with Western International Securities Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Factor failed to testify when FINRA investigated the stockbroker for possible violations of FINRA rules. Letter of Acceptance, Waiver, and Consent No. 2021071099402 (May 1, 2023).
According to the AWC, during the investigation of Factor by FINRA to examine potential “sales practice” violations while he was associated with Western International Securities Inc., FINRA issued a request to Factor on February 24, 2023, regarding his apperance to testify before FINRA investigators.
According to an email from Factor’s lawyer to FINRA on April 5, 2023, and a later phone call made by the lawyer to FINRA personnel on the same day, Factor confirmed receipt of FINRA’s request but declined to appear for testimony. FINRA found that Factor’s refusal to cooperate in the investigation showed that he violated FINRA Rules 2010 and 8210.
Factor’s registration with Western International Securities Inc. was terminated on December 13, 2022.
