Sean Francis Mostero, of Torrance, California, a stockbroker previously registered with LPL Financial LLC, has been barred by Financial Industry Regulatory Authority (FINRA) from associating with any FINRA member in all capacities because Mostero failed to respond to FINRA’s requests for information. FINRA Case No. 2024081064401 (July 19, 2024).
FINRA initiated an investigation on March 24, 2024, into a customer complaint about unauthorized account withdrawals. As part of that process, the regulator made multiple requests for information and documentation from Mostero.
When he did not respond to these requests, FINRA issued a Notice of Suspension on April 16, 2024, warning that he would be suspended from working with any FINRA employer unless he complied. When he still did not respond or request a termination of his suspension within the required three-month period, he was automatically barred funder FINRA Rule 9552(h).
FINRA Public Disclosure also shows that on April 22, 2024, a customer filed an investment related FINRA securities arbitration claim involving Mostero’s conduct in which the customer requested $350,000.00 in damages based upon allegations that Mostero breached his fiduciary duties when Mostero was associated with Cetera Advisors LLC. FINRA Arbitration No. 24-00874.
Mostero was also registered with Alessandra Capital Management as an investment advisor representative. On February 29, 2024, Alessandra Capital Management LLC discharged Mostero based upon allegations that Mostero did not cooperate with the firm’s requests for information regarding a complaint received about his conduct.
Mostero was associated with LPL Financial LLC in Torrance, California from May 2, 2023 to March 26, 2024.
