Michael Tepedino—Failure to Cooperate with FINRA Investigation, Failure to Disclose Outside Business Activity
Michael Tepedino Failed to Cooperate with a FINRA Investigation into His Alleged Undisclosed Outside Business Activity
Michael Tepedino failed to cooperate with a FINRA investigation into his alleged undisclosed outside business activity with Allstate, according to a recent FINRA Letter of Acceptance, Waiver and Consent (AWC). On August 25, 2014, Allstate terminated Tepedino’s employment, according to the AWC.
In addition, the AWC reports, on September 5, 2014, Allstate filed a Uniform Termination Notice for Securities Industry Registration stating that Tepedino was terminated for allegedly operating an independent insurance agency and failing to disclose that agency to Allstate as an outside business activity.
Michael Tepedino Barred by FINRA from Associating with and FINRA Member Firm in Any Capacity
In March of 2015, FINRA began investigating whether Michael Tepedino, while associated with Allstate, had allegedly failed to disclose to Allstate that he was involved in an outside business activity relating to an independent insurance agency, according to the AWC.
Tepedino acknowledged receiving FINRA’s multiple requests, and stated that he would not cooperate with FINRA’s investigation or provide the requested information, the AWC notes.
By refusing to respond to FINRA’s request for documents and information as requested, Tepedino has violated FINRA Rule. As a result, Tepedino has been barred by FINRA in any capacity.
The Peiffer Wolf Investor Rights Lawyers Working to Help Investors
The Peiffer Wolf investor rights lawyers often represent investors who lose money as a result of alleged Ponzi schemes. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of alleged Ponzi schemes may contact the investor rights lawyers at Peiffer Wolf, Jason Kane or Joe Peiffer, for a free, no-obligation evaluation of their recovery options, at 585-310-5140.
Broker: Michael Tepedino
Status: INVESTIGATED by Peiffer Wolf.
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