Thomas E. Stamborski, of Palatine, Illinois, a stockbroker formerly registered with LaSalle Street Securities, L.L.C., has been permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon Stamborski’s consent to findings that he failed to cooperate with a FINRA investigation into allegations that he engaged in unauthorized outside business activities. Letter of Acceptance, Waiver and Consent, No. 2015044783401 (Apr. 4, 2016).
According to the AWC, FINRA received notification from LaSalle St. Securities that Stamborski was terminated on December 31, 2015, based upon allegations that he did not properly apprise the firm of his outside business activities. Following up in this regard, FINRA launched an investigation into Stamborski’s alleged misconduct. The AWC stated that on January 5, 2016, FINRA sent Stamborski a request based upon FINRA Rule 8210, which called for Stamborski to provide information and documentation to FINRA personnel.
The AWC stated that documents and information needed to be provided to FINRA on January 26, 2016; however, FINRA provided Stamborski with an extension to provide a response. Subsequently, counsel for Stamborski notified FINRA that Stamborski would not be providing FINRA with information in reference to the allegations set forth by LaSalle St. Securities.
The AWC revealed that on February 1, 2016, Stamborski was sent a request from FINRA to provide recorded testimony before FINRA personnel on March 3, 2016, based upon FINRA Rule 8210. Subsequently, on February 15, 2016, counsel for Stamborski notified FINRA personnel that Stamborski would not be cooperating in any manner. FINRA found that Stamborski’s failure to cooperate was conduct violative of FINRA Rules 2010 and 8210, which resulted in his permanent bar.
FINRA Public Disclosure reveals that Stamborski was previously fined $5,000.00 and censured by National Association of Securities Dealers (NASD) for violations of SEC Rule 15C2-4 as well as SEC Rule 10b-9. Letter of Acceptance, Waiver and Consent, No. C8A900014 (Jan. 29, 1991).
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