Jose Angel Arizmendi of Encino California a stockbroker associated with Silber Bennett Financial Inc. has been barred by Financial Industry Regulatory Authority (FINRA) from associating with any FINRA member in any capacity supported by allegations that the stockbroker neglected to respond to the regulator’s request for information about his activities. FINRA Case No. 2018057324301 (Dec. 3, 2018).
According to FINRA Public Disclosure, the stockbroker was barred under FINRA Rule 9552(h). He was initially provided a Notice of Suspension from FINRA on August 30, 2018 with a suspension going into effect September 24, 2018. Arizmendi was provided until December 2, 2018 to request that his suspension be terminated but the stockbroker did not comply with the regulator in time.
This is not the first time that Arizmendi has been the subject of a regulatory action based upon accusations of his misconduct in the securities industry. FINRA Public Disclosure reveals that Arizmendi has been fined $5,000.00 and suspended in all capacities based upon accusations that the stockbroker engaged in undisclosed outside business activities. Letter of Acceptance Waiver and Consent No. 2013036318101. According to the AWC, Arizmendi was compensated for an advisory services agreement that he was not permitted to engage in because it was outside the scope of his relationship with Centaurus Financial. The advisory services agreement was not approved by the securities broker dealer. Arizmendi violated FINRA Rules 3270 and 2010.
FINRA Public Disclosure reveals that Arizmendi is referenced in a customer initiated investment related complaint in which the customer requested $13,000.00 in damages based upon allegations that the customer was placed into a bad variable annuity by Arizmendi when he was associated with Centaurus Financial. Another customer initiated investment related complaint concerning Arizmendi’s activities was resolved for $8,191.77 in damages founded on accusations that the Centaurus Financial customer was charged exorbitant and unsubstantiated fees by Arizmendi.
Arizmendi was previously registered with Crown Capital Securities who discharged him based upon allegations that he neglected to comply with the securities broker dealer’s directives concerning the exchange or sale of annuities to elderly customers.
Arizmendi was registered with TCFG Wealth Management LLC between April 15, 2016 and March 7, 2018. He was registered with Silber Bennett Financial between August 1, 2014 and April 20, 2016 and again between March 9, 2018 and August 22, 2018.
