Estevao Dias Semedo of Brockton, Massachusetts, a stockbroker registered with PFS Investments Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Semedo did not comply with an investigation into his potential outside business activities. Letter of Acceptance, Waiver, and Consent No. 2023078507801 (December 4, 2023).
FINRA’s investigation began following a Form U5 filed by PFS Investments Inc. on April 13, 2023, in which the securities broker dealer stated that he was disqualified. The regulator looked into whether he engaged in undisclosed outside business activities and failed to timely disclose a felony charge on his Form U4.
FINRA Rule 8210 required that he provide information in connection with any investigation. Despite multiple requests and extensions for compliance between May and October of 2023, Semedo failed to provide the requested information and documents. By not complying with these requests, Semedo violated FINRA Rules 8210 and 2010.
Semedo was associated with PFS Investments Inc. in Brockton, Massachusetts, from May 11, 2006, to April 13, 2023.
