Tina Marie Martinez of Yakima Washington a stockbroker formerly registered with Farmers Financial Solutions LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity supported by findings that Martinez failed to cooperate with FINRA personnel during an investigation into her life insurance business. Letter of Acceptance Waiver and Consent No. 2018058673601 (June 28, 2019).
According to the AWC, an investigation had been commenced by FINRA into Martinez following the regulator’s receipt of information from Farmers Financial Solutions LLC about Martinez’s termination from the firm. Specifically, Martinez was discharged by Farmers Financial Solutions LLC on May 24, 2018 supported by allegations that she engaged in improper insurance business while employed by the firm.
The AWC stated that on May 30, 2019, a request had been made by FINRA under Rule 8210 for Martinez’s recorded testimony. The AWC stated that FINRA sought information relating to Martinez’s possible forging of customers’ signatures on insurance documentation to effect transactions that customers supposedly did not authorize. The AWC stated that legal counsel for Martinez notified FINRA on June 7, 2019 that Martinez turned down FINRA’s request. Martinez reportedly conveyed that there would be no point in which she would make any appearance before FINRA personnel and testify as to the accusations of her forgery. FINRA found Martinez’s conduct in this respect to be violative of FINRA Rules 2010 and 8210.
This is not the first time that Martinez has been sanctioned by a regulator for misconduct. Particularly, Martinez was fined by the State of Washington Office of the Insurance Commissioner based upon Martinez’s consent to findings that she engaged in unauthorized activities concerning the creation of a certificate of insurance. Case No. 17-0088 (May 5, 2017). Subsequently, Martinez was fined by State of Washington Office of the Insurance Commissioner founded on allegations of Martinez’s failure to timely furnish an invoice relating to an insurance policy causing the policy to be cancelled and a new, more expensive policy being issued. Case No. 18-0217 (May 16, 2018).
