Salvatore Sapienza, of Latham, New York, a registered representative formerly registered with Northwestern Mutual Investment Services, LLC, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to provide information to FINRA in the course of an investigation into allegations of his sales practice violations. Letter of Acceptance, Waiver and Consent, No. 2016052639201 (June 8, 2017).
According to the AWC, Sapienza was contacted by FINRA in May of 2017, after FINRA learned of Sapienza’s termination from Northwestern Mutual Investment Services on December 27, 2016. Apparently, Northwestern Mutual informed FINRA that Sapienza’s termination was based upon his own acknowledgement that he signed the names of customers on insurance documentation.
In particular, FINRA notified Sapienza that his recorded testimony was sought by FINRA staff, according to Rule 8210, in reference to the allegations of his wrongdoing cited by his former employer. FINRA apparently received an acknowledgment from Sapienza on May 8, 2017; however, Sapienza stated to FINRA that he would not be making any appearance for recorded testimony. Consequently, FINRA found Sapienza’s failure to cooperate in this regard to be conduct violative of Rules 2010 and 8210.
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