Janie Garza-Clark of Scottsdale, Arizona, a stockbroker formerly registered with TCFG Wealth Management LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Garza-Clark failed to testify in an investigation relating to allegations of her activities with a customer during the time that Garza-Clark was registered with TCFG Wealth Management LLC. Letter of Acceptance, Waiver, and Consent No. 2022073761401 (April 25, 2022).
According to the AWC, on March 8, 2022, Garza-Clark was sent a request to testify in a FINRA investigation. The regulator sought information about Garza-Clark’s relationship with a customer of the securities broker-dealer and Garza-Clark’s possible receipt of gifts from them. The AWC states that on April 1, 2022, Garza-Clark’s lawyer informed FINRA that Garza-Clark would not make any appearance to testify at any time in the investigation. The regulator found that Garza-Clark violated FINRA Rules 2010 and 8210 for refusing to comply.
Garza-Clark has been identified in three customer initiated investment related disputes regarding accusations of her conduct during the time that she was employed by securities broker-dealers, including Hornor Townsend Kent Inc. FINRA Public Disclosure shows that a customer filed an investment related complaint involving Garza-Clark’s conduct in which the customer requested $10,469.00 founded on allegations of damages caused by the customer’s investment in a variable annuity through Garza-Clark and Hornor Townsend Kent. The complaint alleges that the customer sought a fixed annuity but was sold a variable annuity.
On November 2, 2015, another customer initiated investment related complaint regarding Garza-Clark’s activities was settled for $290,549.00 in damages supported by accusations of the customer being placed into an inappropriate annuity by Garza-Clark at Hornor Townsend Kent Inc.
Garza-Clark is also identified in a customer initiated investment related FINRA securities arbitration claim where the customer requested $950,000.00 in damages based upon allegations of the violation of Arizona Securities Act and Consumer Fraud Act, breach of contract, breach of fiduciary duty, negligent supervision, and fraud as it relates to the customer’s investments in direct participation programs or limited partnerships. FINRA Arbitration No. 20-01724 (June 15, 2020).
Garza-Clark was discharged by Hornor Townsend Kent founded on accusations of her violating policies relating to social media, advertising, handling applications, submitting applications, and accepting customers’ signed but otherwise incomplete forms. Garza-Clark was permitted to resign from TCFG Wealth Management when she was under review for accepting customer checks and failing to report them.