Ciro Joseph Santoro of Cherry Hill New Jersey 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 Santoro did not provide FINRA with information that had been requested of him during its inquiry into Santoro’s activities. Case No. 2017054584801 (Jan. 16, 2018).

FINRA’s inquiry may have concerned Santoro’s termination from Allstate Financial Services, LLC. Specifically, Santoro was discharged by Allstate Financial Services LLC on June 8, 2017 supported by accusations of misappropriation.

FINRA Public Disclosure reveals that Santoro was issued a Notice of Suspension letter from FINRA on October 10, 2017 and a Suspension from Association letter from FINRA on November 3, 2017. Santoro was given until January 15, 2018 to request that his suspension be terminated. Since Santoro failed to respond by the deadline imposed, he was automatically barred by FINRA on January 16, 2018.

Subsequently, on October 3, 2018 Santoro’s securities registration in the State of New Jersey was revoked according to an Order issued by the New Jersey Bureau of Securities which justified the revocation based on FINRA’s barring of Santoro from the securities industry. Moreover, on October 10, 2018, a customer filed an investment related complaint concerning Santoro’s conduct in which the customer sought compensatory damages founded on allegations that while Santoro was associated with Allstate Financial Services LLC, a variable universal life insurance policy illustration possibly contained forged customer signatures; and the customer was steered into purchasing a universal life insurance policy by being provided misleading information about the policy.

The information contained herein has been obtained from reliable sources however may not be accurate and is not guaranteed by us. Readers are encouraged to undertake their own independent investigation and evaluation of the relevant facts. All claims and allegations are subject to adjudication, decisions may be subject to appeal, and no inference is intended, nor should any inference be made from any information contained herein from any source.

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Guiliano Law Group, P.C.

Our practice is limited to the representation of investors. Over the last three decades, we have recovered more than a hundred million dollars for more than 1,000 injured investors from all over the United States and several foreign countries. We accept representation purely on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a confidential consultation or an evaluation of your claim. For more information, contact us at (877) SEC-ATTY.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at stockbrokerfraud.com

To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com

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