David Allen Maute of Springfield Ohio a stockbroker formerly registered with Allstate Financial Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on findings that Maute did not provide a response to FINRA’s requests for his documents and information in an investigation about his possible loan with a customer at Allstate Financial Services. Letter of Acceptance Waiver and Consent No. 2021071386501 (Aug. 3, 2021).
According to the AWC, FINRA learned from Allstate Financial Services on May 13, 2021 that it discharged Maute. Allstate alleged that Maute failed to identify his loan involving a customer as required by company policy. The regulator launched its investigation into Maute to find out whether he violated company policy and FINRA rules.
The AWC shows that on July 1, 2021, FINRA sent Maute a request for his documents and information. Maute reached out to the regulator on July 14, 2021 to relay his acknowledgement of the request. Maute refused to cooperate with the regulator though, never producing anything that met FINRA’s requests. Maute violated FINRA Rules 2010 and 8210 for his obstruction of the investigation.
Maute was registered with Allstate Financial Services between December 12, 2000 and May 13, 2021.
