Fortino Rene Rivera of Anaheim California a stockbroker formerly employed by Centaurus Financial Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that Rivera lied to FINRA personnel when he had been investigated for having a joint account with an elderly customer of the securities broker dealer. Letter of Acceptance Waiver and Consent No. 2018059735201 (July 29, 2019).
According to the AWC, FINRA received a tip through Securities Helpline for Seniors in 2018 which indicated that Rivera potentially held an account with an elderly customer. Apparently, Rivera was instructed by FINRA to provide recorded testimony concerning the accusations of his possible infractions of FINRA rules or securities laws in this regard.
On May 23, 2018, Rivera evidently testified that he had no knowledge of any account being established by him and the customer. Rivera purportedly claimed that the customer potentially established the account unbeknownst to him. However, FINRA determined that Rivera had been lying because he established the account and frequently accessed it after it was opened. FINRA found Rivera’s conduct violative of FINRA Rules 2010 and 8210. Consequently, FINRA barred Rivera in all capacities.
Rivera’s employment with Centaurus Financial Inc. has been terminated as of April 25, 2019.
