Cynthia Komarek (also known as Cynthia Ann Brown and as Cynthia Brown Pearson) a stockbroker formerly registered with SagePoint Financial Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Komarek neglected to cooperate with FINRA during the period that she was under investigation for potentially referring customers to an unapproved asset manager. Letter of Acceptance Waiver and Consent No. 2020067641402 (June 4, 2021).

According to the AWC, Komarek was prompted by FINRA on April 13, 2021 to provide documents and information so that it could assess whether she had engaged in unauthorized transactions at SagePoint Financial. FINRA’s investigation commenced when it learned that Komarek had been discharged by SagePoint based upon allegations of her referrals to an outside asset manager.

The AWC stated that FINRA learned from Komarek’s legal counsel on May 10, 2021 that Komarek acknowledged what was requested of her but would not be cooperating in FINRA’s investigation. No documents or information had been provided. The regulator determined that Komarek’s refusal to cooperate showed that she violated FINRA Rules 2010 and 8210.

Komarek has been identified in three customer initiated investment related disputes containing accusations of her misconduct while she was registered with SagePoint Financial and Merrill Lynch. FINRA Public Disclosure confirms that a customer filed an investment related complaint regarding Komarek’s activities in which the customer requested $140,000.00 in damages founded on allegations that they were not provided with important information in regard to a variable annuity that they purchased through Merrill Lynch.

On August 13, 2020, another customer filed an investment related complaint regarding Komarek’s conduct where the customer sought $900,000.00 in damages supported by accusations that the customer had been recommended an inappropriate outside investment fund by Komarek when she was associated with SagePoint Financial.

A different customer filed an investment related FINRA securities arbitration claim involving Komarek’s conduct in which the customer requested $1,430,000.00 in damages based upon allegations that the customer had been placed into unapproved private investment funds. FINRA Arbitration No. 20-02863 (Aug. 31, 2020). According to the claim, the customer was sold unapproved investments because of Komarek causing the customer to experience damages.

Komarek was registered with SagePoint Financial between November 17, 2017 and August 19, 2020.

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