Texas Registered Rep Under Investigation for Financial Fraud Declined to Turn in Supplementary Documents
Conrad Tambalo Bautista, a registered representative in Texas, is now barred from associating with any other Financial Industry Regulatory Authority member in any capacity. While not denying or admitting to the SRO’s findings, Bautista agreed to the described sanction as well as the entry of findings.
According to FINRA’s findings, Bautista would not respond to its requests for supplemental documents related to a customer complaint about him. The SRO had asked for certain financial data for an investigation into whether/not he took part in fraudulent financial scams, private securities transactions or external business activities, borrowed customers’ money, or failed to disclose an IRS tax lien.
Bautista has turned in his Letter of Acceptance, Waiver and Consent to the SRO.
Wisconsin Registered Representative is Accused of Noncompliance Over Securities Transactions
Robert John Beihoff has consented to a sanction form FINRA barring him from associating with other members and to the entry of findings that while an exempt unregistered investment adviser he affected more than $27.8 million in securities transactions in the accounts of customers and was paid at least $81,000 in compensation. The SRO found that although Beihoff used discretion, with the authorization of customers, to effect the transactions in a number of these accounts, his financial firms and the executing broker-dealers had not accepted the transactions as discretionary.
Beihoff is also accused of not disclosing where the accounts were held or information about his association with member firms before effecting these transactions. He is said to have incorrectly answered on yearly compliance questionnaires that he disclosed all income sources to his brokerage firm and complied with an agreement that he wasn’t to get advisory fees while working as an unregistered investment adviser.
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