FINRA Bars Allstate Broker For Failure To Respond

Michael Alan Sadouskas of Florence Kentucky a former registered representative of Allstate Financial Services LLC has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity founded on allegations that he failed to provide FINRA personnel with information requested of him in regard to his business activities and obligations. Case No. 2017055661401 (Feb. 20, 2018).

FINRA apparently provided Sadouskas with a Notice of Suspension on November 14, 2017, which indicated that Sadouskas would be suspended on December 8, 2017 as a result of failing to provide FINRA with the requested information. Once Sadouskas’ suspension went into effect, he was informed that he faced a permanent bar from FINRA if he did not request that his suspension be terminated by February 19, 2018. Sadouskas failed to communicate with FINRA, resulting in him being automatically barred by February 2, 2018.

Sadouskas was discharged by Allstate Insurance Company on September 13, 2017 supported by accusations that Sadouskas furnished a customer’s payment details to the insurance company without having informed the customer or obtaining the customer’s consent.

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