Valic Stockbroker Barred By In Selling Away Investigation

Antonio Gutierrez Puente (also known as Tony Puente) of Miami Florida a stockbroker formerly employed by Valic Financial Advisors Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based on findings that Puente failed to comply with FINRA’s requests during the time that the stockbroker was under investigation for potentially selling away and engaging in outside business activities without having disclosed them to the securities broker dealer. Letter of Acceptance Waiver and Consent No. 2018059909701 (Jan. 29, 2020).

According to the AWC, Puente was investigated by FINRA around the time that he was terminated from Valic Financial Advisors. The AWC stated that the regulator received correspondence from the securities broker dealer which revealed that it discharged the stockbroker on August 21, 2018 based upon allegations that he engaged in an undisclosed outside business activity while registered there.

Puente was contacted by FINRA on December 23, 2019 and asked to provide recorded testimony in reference to allegations of him violating FINRA rules through his undisclosed private securities transactions or outside business activities while registered with Valic. On January 8, 2020, Puente confirmed with FINRA personnel that he would at no point testify in the investigation. FINRA determined that Puente’s obstruction of the investigation constituted violations of FINRA Rules 2010 and 8210.