Registered Representative Anthony G. Saab Sanctioned by FINRA for Refusing to Cooperate with Investigation

The Financial Industry Regulatory Authority (FINRA) sanctioned Anthony G. Saab for refusing to comply with its request for documents and information during an investigation into his sales of alternative investments. According to FINRA, Saab violated FINRA Rules 8210 and 2010 by failing to provide the requested materials. As a result, FINRA imposed a bar against Saab from associating with any FINRA member firm in any capacity.

Anthony G. Saab began his career in the securities industry in 1969 and most recently associated with The Fig Group, LLC, a now-defunct FINRA member firm. He registered with the firm as a General Securities Representative in 2005 and later as an Operations Professional. After voluntarily ending his association with The Fig Group in November 2022, Saab briefly joined another member firm but also terminated his registration there in December 2024. Saab is currently not associated with any FINRA member firm but remains under FINRA’s jurisdiction.

FINRA Rule 8210 gives the regulator the authority to require individuals under its jurisdiction to provide testimony or documents relevant to an investigation. FINRA Rule 2010 requires associated persons to uphold high standards of commercial honor and just and equitable principles of trade. For example, Rule 8210 may be used to request emails or financial records during a review of a broker's recommendations. Rule 2010 can apply when a broker acts unethically, such as misleading clients or forging signatures.

In Saab’s case, FINRA initiated an investigation related to the sale of alternative investments. On April 14, 2025, FINRA formally requested documents and information from Saab pursuant to Rule 8210. Saab acknowledged the request both via phone on April 22, 2025, and in his signed agreement with FINRA, but explicitly refused to provide any of the materials. FINRA concluded that Saab’s refusal constituted a violation of both Rule 8210 and Rule 2010, and issued a permanent bar from associating with any FINRA member firm.

Lufrano Law, LLC is a national investment litigation firm and has experience representing investors who have investment disputes with brokers and broker-dealers. Please contact us at (800) 627-2179 for more information if you have been the victim of investment negligence or fraud.

The content on this site reflects personal opinions and does not constitute statements of fact. No findings have been made against the firms or individuals mentioned. This blog is intended solely for educational purposes, drawing on publicly available information to provide general insights and a basic understanding of the law. It is not a substitute for legal advice.