Julio Cesar Lage of Miami Florida a stockbroker formerly registered with BLVBLV Securities has been fined $5,000.00 and suspended for six months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Lage maintained outside securities accounts and had failed to cooperate in a timely manner with FINRA’s investigation into those accounts. Letter of Acceptance Waiver and Consent No. 2019060991101 (Aug. 27, 2021).
According to the AWC, when Lage was associated with BLV Securities, he maintained financial accounts at other institutions. No written consent was provided to Lage by BLV Securities for Lage’s ongoing management of those accounts. Lage also did not tell the other securities broker dealers that he was associated with BLV Securities. The AWC stated that Lage also held a beneficial interest in another securities account that he did not disclose to BLV Securities as required. FINRA determined that Lage violated FINRA Rules 2010 and 3210 for this reason.
The AWC also mentioned that Lage did not cooperate with FINRA’s requests. Lage was asked by FINRA to provide documents and inormatoin to them in regard to his outside securities accounts. The regulator noted that information on two accounts had been provided by Lage in response. He omitted mention of the third account. FINRA continued to request that information from Lage and did not receive his cooperation until October of 2020. FINRA found that Lage violated FINRA Rules 2010 and 8210.
Lage was registered with BLV Securities between May 28, 2019 and May 21, 2020.