Lawrence Burton Goldstein (also known as Larry Goldstein) of Sparks Nevada a stockbroker formerly registered with McNally Financial Services Corporation has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Goldstein obstructed a FINRA investigation into allegations of his potential excessive and unsuitable trading in a customer’s account when he was associated with McNally Financial Services Corporation. Letter of Acceptance Waiver and Consent No. 2018058820102 (Nov. 11, 2020).
According to the AWC, McNally Financial Services Corporation provided FINRA with a Form U5 which revealed that Goldstein had been terminated from the securities broker dealer. Goldstein became the focus of a FINRA investigation where his transactions were reviewed for possible excessive trading.
On October 30, 2020, Goldstein was instructed by FINRA to provide recorded testimony. The regulator was notified on November 2, 2020 via phone call and email that Goldstein got FINRA’s instructions but would not cooperate with them. The stockbroker refused to testify for FINRA personnel which precluded the regulator from determining if Goldstein’s trading was unsuitable. Goldstein violated FINRA Rules 2010 and 8210 by obstructing the investigation.
Goldstein was registered with McNally Financial between April 15, 2010 and February 28, 2020.
