Ronald Edward Siemon, of Albuquerque, New Mexico, a stockbroker formerly registered with LPL Financial LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to cooperate with FINRA in an investigation into allegations of Siemon’s misconduct asserted via a customer compliant. Letter of Acceptance, Waiver and Consent, No. 2016051566701 (Jan. 18, 2017).
According to the AWC, on November 1, 2016, FINRA sent Siemon a request based on Rule 8210, in which Siemon was asked to provide FINRA with information and documentation pertaining to a customer’s allegations of his misconduct. Siemon reportedly received numerous extensions of time to provide FINRA personnel with a response, and was obligated to provide the information and documentation by December 13, 2016. Apparently, Siemon failed to comply by the stated deadline. Consequently, FINRA found that Siemon’s conduct was violative of FINRA Rule 2010 and 8210.
Best part about it is that no one seems to care that the actual complaint that FINRA was supposedly investigating does not show up on Siemon’s Public Disclosure Record.
FINRA Public Disclosure reveals that Siemon has been named in only two customer initiated investment related disputes containing allegations of his misconduct while employed with PFS Investments, Inc. Particularly, on July 25, 2002, a customer filed an investment related complaint involving Siemon’s conduct, in which the customer requested $15,000.00 in damages based upon allegations that Siemon failed to communicate with the customer concerning market risk and sales charges pertaining to mutual fund transactions. Subsequently, on April 9, 2004, a customer initiated investment related written complaint regarding Siemon’s activities was resolved for $2,400.00 in damages based upon allegations that Siemon failed to include a death benefit rider on the customer’s variable annuity contract.
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