Tyler Michael Rigsbee of Sacramento California a stockbroker formerly registered with Wells Fargo Clearing Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Rigsbee refused to provide FINRA with documents and information in an investigation into his possible misuse of customer funds. Letter of Acceptance Waiver and Consent No. 2021071026301 (July 7, 2021).

According to the AWC, Rigsbee had been terminated by Wells Fargo Clearing Services on April 7, 2021 founded on allegations that he received customer funds in his own account. The securities broker dealer indicated that the customer’s funds were initially transferred to another institution before arriving in Rigsbee’s bank account. Customers did not authorize Rigsbee’s transactions according to Wells Fargo.

The regulator contacted Rigsbee on April 20, 2021 to see if he would provide information and documents relating to the allegations of his unauthorized transactions. Rigsbee’s lawyer confirmed for FINRA on June 22, 2021 that Rigsbee received its request but would not cooperate with it. The stockbroker violated FINRA Rules 2010 and 8210 for his refusal to answer FINRA’s requests in the investigation.

Rigsbee was registered with Wells Fargo Clearing Services between October 25, 2016 and April 7, 2021.

Tags: ,

Comments are closed.