Sean Pong (also known as Syany Pong), of Los Alamitos, California, a stockbroker registered with US Bancorp Investments Inc., has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity because Pong failed to testify when FINRA investigated the stockbroker for possible violations of FINRA rules. Letter of Acceptance, Waiver, and Consent No. 2021072053201 (June 7, 2023).
On September 3, 2021, US Bancorp submitted a formal notice to terminate the stockbroker registration of Pong in the securities industry. The reason for the termination was Pong’s alleged failure to comply with the securities broker dealer’s policy concerning outside business activities.
FINRA’s investigation arose prior to the termination: the regulator looked into a disclosure filed by US Bancorp on July 14, 2021, mentioning that the securities broker dealer learned of accusations from a former customer concerning Pong’s outside business activities.
On May 23, 2023, as part of FINRA’s probe into Pong’s outside business activities, the regulator sent a request to Pong asking for him to make an apperance and testify. On May 26, 2023, Pong confirmed that he obtained the request from FINRA but refused to testify at any point. Therefore, FINRA found that Pong violated FINRA Rules 2010 and 8210.
Public Disclosure shows that Pong is referenced in a customer initiated investment related complaint filed on January 28, 2013, in which the customer requested $57,595.00 in damages based upon allegations that Pong committed fraud in connection with the sale of mutual funds when Pong was registered with US Bancorp Investments Inc. The securities broker dealer denied the complaint.
On April 13, 2020, another US Bancorp Investments Inc. customer filed an investment related complaint involving Pong’s conduct in which the customer requested $134,600.00 in damages based upon allegations that Pong committed fraud, engaged in unauthorized trading, and committed forgery in connection with the sale of investments. The securities broker dealer has denied the complaint.
Pong was registered with US Bancorp Investments Inc. between October 19, 2012, and September 3, 2021.
