Lizabeth Gotuaco Ty of Houston, Texas, a stockbroker with Park Avenue Securities LLC, was permanently barred from associating with any Financial Industry Regulatory Authority (FINRA) member firm in any capacity after consenting to findings that she obstructed a FINRA investigation into allegations of her involvement in unregistered securities sales. Letter of Acceptance, Waiver and Consent, No. 20160493150-01 (May 11, 2016).
According to the AWC, on July 23, 2015, Park Avenue Securities LLC notified FINRA that Ty had voluntarily resigned from the firm on July 15, 2016. On March 18, 2016, Park Avenue Securities amended its Form U5 with respect to Ty’s termination, stating to FINRA that several customers had filed claims against Ty regarding sales of unregistered securities.
The AWC stated that on April 19, 2016, FINRA requested that Ty, per Rule 8210, provide information and documentation by an April 26, 2016 deadline. Apparently, Ty’s attorney contacted FINRA on April 21, 2016, stating that Ty acknowledged the request that FINRA made, but stated that she would not be cooperating at any point. FINRA found that Ty’s failure to cooperate was violative of FINRA Rule 8210 and 2010.
Public disclosure records reveal that Ty has been subject to four disclosure incidents. On February 22, 2016, Ty became subject to a pending customer dispute, in which a customer is requesting $400,000.00 in damages after alleging that Ty sold unregistered promissory notes to them.
On March 1, 2016, Ty became subject to a related customer dispute, in which a customer is requesting $500,000.00 in damages amid allegations of unregistered promissory notes sales. Another customer lodged a customer dispute against Ty on April 5, 2016, requesting $250,000.00 in damages after alleging unregistered securities sales.
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