Soreide Law Group, PLLC, (888) 760-6552, has obtained the following information on FINRA’s website under “Disciplinary and Other FINRA Actions, September, 2013.”
Carlos C. Garcia (CRD #2635960, Registered Principal, Westport, Connecticut)
was fined $5,000 and suspended from association with any FINRA member in any capacity for five months. Without admitting or denying the findings, Garcia consented to the described sanctions and to the entry of findings that he sold equity-indexed annuities (EIAs), non-securities products, to member firm customers and others outside the scope of his employment with his firm and without providing it with any notice of the business activity.
FINRA's findings said that Garcia’s undisclosed sales totaled roughly $4.3 million and he received approximately $338,445 as compensation. Over the course of five years, Garcia falsely certified to the firm that he had not been engaged in any undisclosed outside business activity.
The suspension is in effect from August 19, 2013, through January 18, 2014.
(FINRA Case #2012032914901)
Carlos C. Garcia is currently employed by and registered with the following FINRA Firm(s):
KOVACK SECURITIES INC.
51 REICHERT CIRCLE
WESTPORT, CT 06880
CRD# 44848
Registered with this firm since: 10/19/2012
According to FINRA's BrokerCheck, Carlos C. Garcia was previously registered with FINRA at the following brokerage firms:
METLIFE SECURITIES INC.
CRD# 14251
SHELTON, CT
08/2004 - 08/2012
METROPOLITAN LIFE INSURANCE COMPANY
CRD# 4095
NORWALK, CT
08/2004 - 07/2007
FIRST MONTAUK SECURITIES CORP.
CRD# 13755
RED BANK, NJ
05/2000 - 03/2004
This ends the information obtained from FINRA’s website.
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