Frederick David Holloway Barred by FINRA for Impersonating Clients and Other Unethical Conduct

Frederick David Holloway Barred by FINRA for Impersonating Clients and Other Unethical ConductFrederick David Holloway (CRD# 248814) was a previously registered broker. From 1982 to 2019, Mr. Holloway was the sole registered representative and owner of Holloway & Associates, based in Easton, Maryland.

He was barred by FINRA for withholding documents to FINRA during its investigation into claims that he impersonated his customers and forged variable annuities sales contracts (FINRA Office of Hearing Officers Amended Hearing Panel Decision).

Mr. Holloway was originally named in a FINRA complaint for recommending that his customers switch from one variable annuity contract (VA) to another with little to no reason for the recommendation.

Mr. Holloway reportedly earned roughly 70% of his income through VA sales commissions from January 2013 to June 2016, the period covered by the investigation. FINRA also discovered that Mr. Holloway impersonated his customers on the phone, as well as had them sign uncompleted paperwork that he and his assistant would fill in later or photocopy for use in future transactions.

The Amended decision charged Mr. Holloway with several violations of FINRA Rule 2010 and one violation of FINRA Rule 8210. The charge under the latter resulted in Mr. Holloway’s bar from association with any FINRA member.

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