FINRA Issues Bar To Thomas Ciolek

Soreide Law Group is investigating possible investor claims against securities broker Thomas Jacob Ciolek (CRD: 2314551, Franklinville, New York). Evidently, FINRA sanctioned the securities broker, who worked for LPL Financial LLC. Allegedly, Ciolek failed to testify when FINRA investigated him. Here is a brief summary of FINRA’s allegations against Ciolek.

Ciolek Barred By FINRA For Failure To Testify

Evidently, on November 7, 2022, FINRA issued Acceptance, Waiver, and Consent No. 2021070741901 sanctioning Thomas Ciolek for infractions. Specifically, Ciolek was barred, which precludes working for a FINRA-member securities firm in any role. Particularly, FINRA alleged that Ciolek failed to testify when FINRA investigated the securities broker for potentially violating FINRA rules.

LPL Financial ended Ciolek's registration on March 17, 2021, because he electronically signed account documents for clients against the Firm Document Signature policy. FINRA’s investigation originated from LPL’s Form U5 submission.

According to FINRA Rule 8210(a)(1), FINRA has the authority to request information, either orally, in writing, or electronically, and require testimony from individuals under its jurisdiction for investigations or examinations. Violating FINRA Rule 8210 by failing to provide information or testimony is also a violation of FINRA Rule 2010, which requires “high standards of commercial honor and equitable principles of trade” for member firms and their associated persons.

On October 28, 2022, FINRA sent Ciolek a request for testimony under FINRA Rule 8210. Ciolek acknowledged receiving the request during his phone call to FINRA on October 31, 2022, but he agreed not to appear for testimony at any time. By refusing to participate in the requested testimony, Ciolek violated FINRA Rules 8210 and 2010.

LPL Financial LLC Disaffiliates With Thomas Ciolek

Evidently, on February 19, 2021, LPL Financial LLC disaffiliated with Ciolek. Particularly, LPL Financial LLC alleged that Ciolek signed client documents against company policy.

Ciolek Employment Information

• Ciolek worked for LPL Financial LLC in Franklinville, New York, as a securities broker from February 14, 2018, to March 17, 2021.
  
• Ciolek worked for Invest Financial Corporation in Dansville, New York, as a securities broker from February 5, 2013, to February 14, 2018.

Did LPL Financial LLC Securities Broker Ciolek Cause You To Experience Damages?

Did you suffer losses from investing with Thomas Ciolek? If so, reach out to Soreide Law Group at (888) 760-6552 and speak with a securities lawyer about a potential recovery of your losses. Soreide Law Group, who has successfully recovered money for hundreds of investors across the United States, represents clients on a contingency fee basis and advances all costs. Ciolek and brokerage firms Ciolek worked for deny any and all allegations of sales practice violations.