Robert Allen Silvestri (also known as Rob Silvestri), of Dallas, Texas, a stockbroker formerly registered with Aegis Capital Corp. and Level Four Financial, has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Silvestri refused to comply with the regulator’s request for testimony during an investigation into allegations that he borrowed customer funds. Letter of Acceptance, Waiver, and Consent No. 2023079235501 (November 21, 2023).
On July 10, 2023, Level Four Financial notified FINRA that it conducted an investigation into Silvestri for potentially borrowing money from a customer. Aegis Capital Corp., upon receiving this information, filed a Uniform Termination Notice for Securities Industry Registration (Form U5) on July 25, 2023, alleging that he borrowed from a customer without the securities broker dealer’s approval or consent.
The situation escalated when FINRA initiated an investigation into these allegations. The regulator requested Silvestri to appear for testimony on November 29, 2023, before FINRA personnel. However, Silvestri communicated to FINRA on November 14, 2023, that he would not comply with this request. By refusing to provide testimony, Silvestri violated FINRA Rules 8210 and 2010.
FINRA Public Disclosure shows that Silvestri is identified in a customer initiated investment related complaint that was settled on January 9, 2023, for $8,000.00 in damages. The customer alleged unsuitable recommendations in her account from account inception in February of 2020, which resulted in losses on ETFs and over-the-counter equities.
Silvestri was associated with Aegis Capital Corp. in Dallas, Texas, from January 11, 2023, to July 25, 2023, and with Level Four Financial LLC in Allen, Texas, from September 17, 2018, to December 1, 2022.
