Robert Tibor Nyilas of Jericho New York a stockbroker formerly registered with Advisory Group Equity Services Ltd. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that he did not cooperate with FINRA’s requests while he was under investigation for possibly making unsuitable investment recommendations to customers of Advisory Group Equity Services. Letter of Acceptance Waiver and Consent No. 2019063770601 (Sept. 14, 2021).
According to the AWC, Nyilas was asked by FINRA on September 2, 2021 to provide it with information and documents so that it could evaluate the suitability of his recommendations to customers. Nyilas was investigated for possibly making bad recommendations in at least two accounts of Advisory Group Equity Services customers.
Nyilas told FINRA on September 2, 2021 that he understood what was expected of him in the investigation. He relayed that he would not cooperate with those requests at any point. The stockbroker refused to hand over any documents or information in violation of FINRA Rules 2010 and 8210.
Nyilas was associated with Source Capital Group Inc. between August 28, 2015 and February 14, 2017. He was registered with Advisory Group Equity Services between February 7, 2017 and December 4, 2020, and registered with Lebenthal Financial Services Inc. between December 4, 2020 and September 2, 2021.
