Cetera Advisors Stockbroker Sanctioned By FINRA For Lying
Henry Arthur Taylor III (also known as Trey Taylor) of Springdale Arizona a stockbroker formerly registered with Cetera Advisors Networks LLC has been fined $7,500.00 and suspended for three months from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that Taylor sold away from the securities broker dealer. Letter of Acceptance Waiver and Consent No. 2018059200701 (June 29, 2020).
According to the AWC, in 2017, customer RB and Taylor were pitched a prospective investment in a trucking company. FINRA stated that the customer provided Taylor with a check which Taylor placed in his own account for purposes of investing in that trucking company. Taylor subsequently made a joint investment in the trucking company.
The AWC revealed that Taylor failed to be forthcoming with Cetera in regard to his activities involving the customer. In 2017, the securities broker dealer discovered that Taylor had participated in the trucking company investment. Taylor had been warned about this investment constituting a private securities transaction that could serve the basis of his employment termination. Cetera was falsely told by Taylor that he did not make any private investment. FINRA found that Taylor’s activities were violative of FINRA Rules 2010 and 3280.
FINRA Public Disclosure also indicates that on June 27, 2019, a customer initiated investment related arbitration claim pertaining to Taylor’s conduct was settled to resolve allegations that Taylor advised the customer to purchase an investment in a freight hauling truck company that Cetera did not approve. FINRA Arbitration No. 18-04066. The claim also alleges that Taylor received a loan from the customer.
Taylor has been associated with International Assets Advisory since May 20, 2019.