Lisa Acca of Bay Ridge New York a stockbroker registered with Arive Capital Markets has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Acca failed to submit documentation to FINRA and provide testimony in the course of a FINRA investigation into allegations of her recommending that an Arive Capital Markets customer effect investment transactions outside Arive Capital Market’s auspices. Letter of Acceptance Waiver and Consent No. 2018060634302 (Aug. 8, 2019).
According to the AWC, on May 14, 2019, a request had been made by FINRA personnel for Acca to provide information and documentation to the regulator in reference to allegations of Acca seemingly advising a customer to effect a private securities transaction which appears to have been prohibited under the firm’s policies and procedures. Acca was also instructed to provide testimony before FINRA personnel about selling away and possibly committing possible violations of FINRA Rules.
Acca’s legal counsel confirmed with FINRA that the requests had been received by her. Yet, Acca revealed in May 2019 that there would be no information or documentation furnished by her in response to FINRA’s requests. Acca failed to cooperate with FINRA personnel, precluding the regulator from concluding whether she engaged in violations of FINRA rules. FINRA found Acca’s conduct violative of FINRA Rules 2010 and 8210.
FINRA Public Disclosure reveals that Acca has been identified in four customer initiated investment related disputes containing accusations of her misconduct during the period in which she was associated with AXA Advisors and Equity Services Inc. A customer filed an investment related complaint concerning Acca’s activities in which the customer sought unspecified damages supported by allegations that the customer’s signature had been forged on documentation to effect a life insurance policy for the customer.
Another customer filed an investment related complaint regarding Acca’s conduct where the customer requested $80,000.00 in damages founded on accusations that the customer’s account had been handled with poor care; and fiduciary duties were violated in reference to the municipal debt trades effected in the customer’s account while Acca was employed by Equity Services Inc. Acca is also the subject of a customer initiated investment related complaint in which the customer sought $8,000.00 in damages based upon allegations that false or misleading statements had been made to the customer concerning the terms, conditions or performance of the customer’s investment account. Another customer initiated investment related complaint concerning Acca’s conduct was settled to resolve accusations that the customer had been placed into a variable annuity which failed to be suitable for the customer.
Acca has also been terminated from prior securities broker dealer employer, Equity Services Inc., supported by allegations of Acca violating the firm’s directives by neglecting to disclose that she was the subject of a customer dispute. Acca had been subsequently employed by Global Arena Capital Corp through April 21, 2015, and employed with Arive Capital Markets between April 20, 2015 and October 23, 2017.
