FINRA’s Department of Enforcement initiated an investigation into Tinoco’s alleged misconduct concerning his attempt to conceal customer losses. According to FINRA, during a meeting with the customer, Tinoco provided the customer with a one-page chart overstated the monthly value of the customer’s account by over $200,000. FINRA alleged Tinoco provided the customer with the false and misleading account summary to conceal losses from the customer that were incurred by Tinoco’s trading activity.
In connection with this investigation, FINRA sent Tinoco a request to appear and provide testimony at FINRA’s offices on July 6, 2015. According to FINRA, Tinoco acknowledged receipt of FINRA’s Rule 8210 requests; yet he failed to cooperate with FINRA’s investigation.
Based upon the foregoing alleged misconduct, FINRA asserted Tinoco violated FINRA Rules 2010 and 8210. Specifically, FINRA Rule 8210 authorizes FINRA, in the course of its investigations, to require persons associated with a FINRA member to “provide information orally, in writing, or electronically . . . with respect to any matter involved in the investigation...” Here, Tinoco failed to provide testimony in response to FINRA’s request, thereby violating FINRA Rule 8210.
Lufrano Law, LLC is a national securities litigation firm and has experience representing investors who have investment disputes with brokers and broker-dealers. If you suffered investment damages with Tinoco while Barclays employed him as a general securities representative, you may be able to recover your losses through FINRA arbitration. Our firm only receives a fee if you recover money. Please contact one of our attorneys at (800) 627-2179 to schedule a free consultation.