Raymond Sardina of Coral Gables, Florida, a stockbroker registered with Raymond James Associates Inc., was the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer requested $1,500,000.00 in damages based upon allegations that Sardina made unsuitable recommendations of stocks during the time that Sardina was associated with Raymond James Associates Inc. Financial Industry Regulatory Authority (FINRA) Arbitration No. 22-02868 (December 16, 2022).
Public Disclosure also shows that Sardina has been suspended for one month from associating with any FINRA member in any capacity because Sardina borrowed customer funds. Letter of Acceptance, Waiver, and Consent No. 2013038581401 (March 19, 2015).
According to the AWC, Sardina took a $10,000 loan from a customer of Raymond James Associates Inc. Sardina didn’t inform his employer about this loan, nor did he ask for permission to take it. The regulator indicated that Sardina lied in his employer’s yearly compliance survey, stating he had not received any loan from a customer. By taking a loan from a customer at a time that Raymond James Associates Inc. explicitly forbade employees to borrow money from its customers, Sardina violated FINRA Rules 2010 and 3240. Also, by stating on his employer’s 2012 annual survey that he received no loans from customers, Sardina again violated FINRA Rule 2010.
Sardina has been associated with Raymond James Associates Inc. as a stockbroker and investment advisor representative since March 29, 2007.
