Gerald Thomas Coyne (also known as JT Coyne) of Harrisburg, Pennsylvania, a stockbroker registered with CUSO Financial Services L.P., is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $181,000.00 in damages based upon allegations that Coyne made misrepresentations relating to the recommendation and sale of variable annuities when Coyne was associated with Cuso Financial Services L.P. FINRA Arbitration No. 19-00585 (June 3, 2020).
FINRA Public Disclosure shows that Coyne has been barred from associating with any FINRA member in any capacity based upon allegations that Coyne failed to testify when FINRA investigated the stockbroker for possible violations of FINRA rules. FINRA Enforcement (AWC) No. 2019061332701 (Dec. 10, 2019).
According to the AWC, on September 21, 2018, CUSO Financial Services, L.P., filed a Uniform Termination Notice for Securities Industry Registration (Form U5) with FINRA, indicating that it discharged Coyne due to violations of firm policy and client service issues. FINRA began investigating Coyne after reviewing the allegations contained within the Form U5 concerning potential misrepresentations, unsuitable recommendations, and omissions. In connection with the investigation, FINRA sent Coyne a request for testimony on November 7, 2019. During a phone call with FINRA staff on November 12, 2019, Coyne indicated that he received FINRA’s request but would not appear for testimony at any time. Coyne violated FINRA Rules 2010 and 8210 as a result.
Gerald Coyne was associated with Cuso Financial Services LP from January 13, 2011 to September 21, 2018.
