Donald Edward Teboe of Clinton Michigan a stockbroker formerly employed by Cantella Co. Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Teboe refused to cooperate with FINRA personnel during a time that he was under investigation for effecting unsuitable trades in accounts of Cantella, Questar Capital Corporation and Royal Securities Company customers. Letter of Acceptance Waiver and Consent No. 2018057149701 (Sept. 16, 2019).
According to the AWC, Teboe was the subject of a FINRA investigation which commenced in 2019 in reference to accusations of Teboe’s inappropriate and unwarranted trading in the accounts of one or more customers who invested through Teboe at Cantella, Questar and Royal Securities.
The AWC stated that Teboe was sent a request from FINRA personnel on August 23, 2019 which called upon the stockbroker to provide recorded testimony to the regulator under Rule 8210. Apparently, Teboe retained legal counsel who made FINRA personnel aware that Teboe received the regulator’s request for his recorded testimony. However, Teboe’s counsel confirmed that the stockbroker declined FINRA’s request and would not be making any appearance to testify at any point. FINRA found that Teboe’s failure to provide recorded testimony constituted the stockbroker’s violations of FINRA Rules 2010 and 8210. Teboe was barred by the regulator as a result.
FINRA Public Disclosure additionally confirms that Teboe is the subject of a customer initiated investment related arbitration claim which was settled to resolve allegations that when Teboe was associated with Cantella, Questar and Royal Securities, the customer had been placed in speculative and aggressive stock and over-the-counter equities which failed to align with the customer’s investment circumstances; misrepresentations were negligently made by the stockbroker in regard to investment transactions; fiduciary duties and contractual obligations had been breached; the customer’s account was handled in a negligent manner; and transactions were fraudulently effected. FINRA Arbitration No. 17-03488 (July 26, 2018).
Teboe’s registration with Cantella Co. Inc. on February 2, 2018.
