Vincent Santoro of Lake Mary Florida a stockbroker formerly employed by State Farm VP Management Corp has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon consenting to findings that he failed to provide recorded testimony before FINRA personnel. Letter of Acceptance Waiver and Consent No. 2018056843801 (Apr. 30, 2018).
According to the AWC, Santoro was terminated from State Farm VP Management corp. on December 31, 2017 supported by the firm’s accusations that Santoro engaged in conduct violative of industry standards or rules. FINRA subsequently launched an investigation into Santoro’s activities to determine if he had engaged in outside business activities or sold away from his firm.
The AWC stated that Santoro was called upon by FINRA staff to provide recorded testimony in reference to the allegations of his wrongful conduct. Santoro reportedly confirmed with FINRA that he understood what was asked of him but would not be cooperating in FINRA’s investigation at any point. FINRA found that Santoro’s refusal to testify was conduct violative of FINRA Rules 2010 and 8210.
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