Douglas Anthony Rabess of New Windsor Connecticut a stockbroker formerly registered with NYLife Securities LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on accusations that Rabess failed to comply with FINRA’s inquiries about his activities. Case No. 2016050595002 (Sept. 5, 2017).
According to FINRA Public Disclosure, Rabess had been issued a Notice of Suspension from FINRA on June 1, 2017, and later issued a Suspension from Association Letter from FINRA on June 26, 2017. FINRA reportedly warned Rabess at the time of his suspension that his lack of cooperation going forward could result in more severe sanctions. Apparently, FINRA provided Rabess until September 4, 2017 to cooperate with its requests. Rabess evidently failed to comply.
This is not the first time that Rabess has been suspended from FINRA for failing to cooperate. Particularly, on January 9, 2017, FINRA suspended Rabess for failing to provide FINRA personnel with information requested of him. However, Rabess reportedly complied with FINRA’s requests on February 7, 2017 to resolve the suspension.
FINRA may have inquired into Rabess’ termination from NYLife Securities LLC. Particularly, the firm discharged Rabess on June 9, 2016 based upon accusations that Rabess forged a customer’s signature on account documentation. The firm stated that the customer neither knew nor authorized Rabess’ use of the customer’s signature.
