Frank Vincent Sapareto of Westport Connecticut a stockbroker formerly registered with Advisory Group Equity Services Ltd. is referenced in a Financial industry Regulatory Authority (FINRA) investigation in which the regulator determined that Sapareto should face disciplinary action for allegedly failing to be truthful during an investigation into his outside business activities. FINRA Investigation No. 20180603797 (Sept. 29, 2020).
FINRA indicated that Sapareto should face disciplinary action for allegedly giving it false information when he was probed about an outside business activity involving Standard Video LLC. Sapareto potentially failed to be forthcoming regarding his formation of this company. FINRA also indicated that Sapareto might have falsely testified as to his involvement in Standard Video and his involvement with Jonathan Carter (also known as Roy Randal). The regulator stated that the stockbroker possibly violated FINRA Rules 2010 and 8210 for this reason.
The regulator also conveyed that Sapareto possibly engaged in undisclosed outside business activities involving Standard Video when he was associated with Advisory Group Equity Services. FINRA stated that Sapareto potentially violated FINRA Rules 2010 and 3270 in this respect.
FINRA Public Disclosure confirms that Sapareto was discharged by Advisory Group Equity Services on October 31, 2018 supported by allegations of his undisclosed outside business activities. The securities broker dealer indicated that Sapareto created the company on June 6, 2018 in violation of company policy.
Sapareto has also been registered with Fortune Financial Services between January 2, 2019 and January 15, 2019, and registered with Trustmont Financial Group Inc. between April 15, 2019 and May 5, 2020.
