In June 2013, FINRA reported that it had fined and suspended for one month Florida Registered Representative Frederico Goldin.
During his association with ITA Financial Services, LLC, Mr. Goldin borrowed a total of $28,688.47 from customers. When the loans were made, ITA did not have written procedures that allowed its representatives to borrow money from customers. As a result of the foregoing, FINRA Rules 3240 and 2010 were violated.
In settling this matter Frederico Goldin neither admitted nor denied the charges, but consented to the entry of FINRA’s findings. Because the loans were repaid, it is unlikely that the customers initiated a FINRA arbitration, or any other type of securities arbitration.