Florida Broker Barred For Refusal To Cooperate With FINRA Investigation Into Alleged Senior Investment Fraud
Ronald J. Giovino Jr. (CRD#: 2236071) is a previously licensed and registered securities broker. From March of 2003 through July of 2021, Mr. Giovino Jr. was a representative for GWN Securities Inc. in Clearwater, Florida. Previously, he was associated with Legend Equities Corporation.
On July 8th, 2021, Ronald J. Giovino Jr. was barred from the securities industry by FINRA after his refusal to provide information to investigators in relation to allegations of elder financial fraud. Here, our Miami elder financial fraud attorneys detail the allegations against this broker.
Barred Broker: Ronald J. Giovino Jr. Formerly of GWN Securities Inc.
According to information included in Letter of Acceptance, Waiver, and Consent (NO. 2021070962701), the investigation against former GWN Securities Inc. broker Ronald J. Giovino Jr. was opened after FINRA received a call on its telephone tip hotline for seniors. The agency felt the information provided on the tip line was sufficient to open up a more comprehensive investigation into this broker. More specifically, FINRA states that the allegations involved the alleged conversion of funds by this financial advisor.
Failure to Cooperate With an Investigation
On April 23rd, 2021, a representative of the Financial industry Regulatory Authority reached out to Ronald J. Giovino Jr. The agency made an explicit request for documents, records, and other information related to the investigation into the alleged improper conduct by this securities broker. FINRA reports that Mr. Giovino Jr. initially provided some limited information. However, he failed to make a full production of documents. In early June, a second request was made by FINRA. It was at this time that Mr. Giovino Jr. confirmed that he would not be providing any additional information.
Violation of FINRA Rule 8210
Registered securities brokers have a professional obligation to cooperate with FINRA investigations. The failure to do so can result in sanctions against a financial advisor. Under FINRA Rule 8210, brokers must produce relevant documents, records, testimony, and information when requested in relation to an investigation. Former GWN Securities Inc. broker Ronald J. Giovino Jr. failed to comply with FINRA Rule 8210 when he declined to provide the more comprehensive documents and records requested by FINRA.
Financial Advisor Sanctions
Without admitting or denying any of the allegations raised against him, Ronald J. Giovino Jr. consented to the sanctions proposed by FINRA. He accepted a permanent bar from associating with any FINRA member in any professional capacity.
Call Our Florida Senior Citizen Financial Fraud Lawyers for Immediate Help With Your Case
At Carlson & Associates, P.A., our Miami securities fraud lawyers have the specialized skills and experience to protect the rights of senior citizens investors. If you or your family member was damaged by financial fraud, we are more than ready to help. Call us now or email us through our website to arrange your private initial consultation. With a main office in Miami, we advocate for the best interests of investors in Miami-Dade County, South Florida, and beyond.