Allstate Broker Barred For Failure To Comply With Inquiry
Benham Halali of San Jose California a stockbroker formerly registered with Allstate Financial Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Halali failed to cooperate with FINRA’s inquiry into his activities. Case No. 2015047264301 (Sept. 1, 2016).
FINRA Public Disclosure additionally reveals that on September 24, 2016, a customer initiated investment related complaint regarding Halali’s activities was resolved for $25,044.00 in damages supported by accusations that while Halali was associated with Allstate Financial Services, LLC, omissions had been made to the customer in regard to the fees charged on the customer’s insurance policy.
Prior to the FINRA disciplinary action, Halali was discharged by Allstate Financial Services LLC founded on allegations that he was charged with wire fraud and money laundering. Apparently, Halali was charged with those criminal offenses in the District Court for the Northern District of California on December 16, 2014. Docket No. CR140627 (Dec. 16, 2014).