Ex-Kestra Broker Barred for Failing to Provide Requested Information

Ex-Kestra Broker Barred for Failing to Provide Requested Information-minJohn William Spach (CRD#: 2731192) is a former registered securities broker. From 2014 to 2018, Mr. Spach was employed at Kestra Investment Services (CRD#: 42046) in Aliso Viejo, California. In June of 2018, he was permitted to resign from the brokerage firm while under internal investigation.

On February 21st, 2019, John Spach was barred from the securities industry after he knowingly failed to provide documents and information that was requested by investigators — this is a violation of FINRA Rule 8210.

Allegations: Violation of Firm Policies When Settling a Customer Complaint

According to BrokerCheck, former Kestra Investment Services broker John Spach settled a dispute over a defaulted promissory note for $450,000. Notably, this claim involved an outside investor that was not affiliated in any manner with Kestra.

Eventually, Kestra launched an internal review of his conduct. The purpose of this investigation was to determine if Mr. Spach may have violated firm policies in settling the outside investor complaint. While he was still under internal review, he was permitted to resign from the brokerage firm.

When FINRA launched its own investigation into this claim, Mr. Spach declined to cooperate with the investigation. Without admitting any wrongdoing, he consented to the agency’s proposed penalties: an indefinite bar from the securities industry.

Get Help From Our Securities Fraud Attorney Today

At Sonn Law Group, our law firm has successfully represented investors for more than three decades. If you lost money because of misconduct by a financial advisor, we are here to help. For a free consultation, please contact us today.

Disclaimer: This article contains opinions and NOT statements of fact in any way whatsoever. The information here is general information that should not be taken as legal advice. NO attorney-client relationship is established between you and our attorneys by reading this article. This article is attorney advertising and should not be used as a substitute for legal advice from a qualified securities lawyer.

Rate this post:

1 Star2 Stars3 Stars4 Stars5 Stars
1 votes, average: 5.00 out of 5
Loading...