Michael Christopher Evangelista (CRD #2361644, West Chester, Pennsylvania)
was barred by FINRA for failing to disclose to his member firms that firm clients were purchasing securities away from the firms or that he was being compensated in connection with his referrals.
FINRA's findings stated that Evangelista referred approximately six customers to a third party, and those customers later invested in real estate securities issued by an entity that invested in real estate. Evangelista received at least $50,000 in compensation in connection with these referrals.
Also, FINRA's findings stated that Evangelista lacked a basis to recommend to his customers that they purchase the securities issued, given his failure to perform a reasonable investigation and appropriate due diligence on the investment.
FINRA's findings also included that during the course of FINRA’s investigation, Evangelista provided information that he knew to be incomplete and/or inaccurate by claiming that he did not receive compensation for referring clients to the entity. Evangelista subsequently admitted during his on-the-record testimony that he had received compensation from the president of the entity in connection with his firms’ clients’ investments.
(FINRA Case #2012035327601)
Michael Christopher Evangelista was registered in the securities industry for 19 years and was previously registered with the following securities firm(s):
05/2012 - 12/2012 COMPREHENSIVE ASSET MANAGEMENT AND SERVICING, INC. (CRD# 43814) - PARSIPPANY, NJ
01/2008 - 05/2012 CAMBRIDGE INVESTMENT RESEARCH, INC., INC. (CRD# 39543) - BERWYN, PA
11/1994 - 12/2007 CAPITAL ANALYSTS, INCORPORATED (CRD# 5478) - BERWYN, PA
04/1994 - 11/1994 PRUCO SECURITIES CORPORATION (CRD# 5685) - NEWARK, NJ
07/1993 - 12/1993 F.N. WOLF & CO., INC. (CRD# 13051)
The previous summation of information is from FINRA's Website under "Disciplinary and Other Actions, January, 2015" and ends here.
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