Enforcement Actions
Financial Industry Regulatory Authority (FINRA)
NOTE: Stipulations of Fact and Consent to Penalty (SFC); Offers of Settlement (OS); and Letters of Acceptance Waiver, and Consent (AWC) are entered into by Respondents without admitting or denying the allegations, but consent is given to the described sanctions & to the entry of findings. Additionally, for AWCs, if FINRA has reason to believe a violation has occurred and the member or associated person does not dispute the violation, FINRA may prepare and request that the member or associated person execute a letter accepting a finding of violation, consenting to the imposition of sanctions, and agreeing to waive such member's or associated person's right to a hearing before a hearing panel, and any right of appeal to the National Adjudicatory Council, the SEC, and the courts, or to otherwise challenge the validity of the letter, if the letter is accepted. The letter shall describe the act or practice engaged in or omitted, the rule, regulation, or statutory provision violated, and the sanction or sanctions to be imposed.
November 2009
Louis Tomasello III
OS/2006004832901/November 2009

Tomasello misappropriated $5,716 from his member firm by submitting false and misleading invoices and expense reports to the firm and improperly seeking and receiving reimbursement for bogus charges by claiming them as legitimate business expenses (further causing his member firm to have false and inaccurate books and records).

Tomasello provided gifts in excess of $100 to registered representatives at another firm.

Tomasello provided false testimony and failed to provide requested documents to FINRA staff.

Louis Tomasello III: Barred
Tags:  Expenses    Gifts     |    In: Cases of Note : FINRA
Enforcement Actions