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Cesar Alfonzo Barred by FINRA After Allegedly Refusing to Provide Testimony

Aug 5, 2022 Barred Broker

Cesar Alfonzo (CRD #: 6817711), a broker formerly registered with Citigroup Global Markets, has been barred by FINRA, according to his BrokerCheck record, accessed on July 23, 2022. If you want to learn more about his conduct as a broker, keep reading.

Bar by FINRA

On June 17, 2022, Cesar Alfonzo consented to the entry of findings that he allegedly refused to appear for on-the-record testimony concerning his discharge from Citigroup Global Markets.

According to a Uniform Termination Notice for Securities Industry Registration (Form U5) filed by Citigroup Global Markets, the firm allegedly discovered that Cesar Alfonzo did not have an outside business at the time that he applied for and received a U.S. Small Business Administration loan.

Cesar Alfonzo’s alleged refusal to appear for testimony violated FINRA Rules 8210 and 2010.

FINRA Rules 8210 and 2010

FINRA Rule 8210 requires brokers to provide testimony, information, and documents upon request by FINRA. Failure to do so violates this rule and FINRA Rule 2010, which requires brokers to uphold high standards of professional honor.

Sanctions

Cesar Alfonzo was indefinitely barred from associating with FINRA members in all capacities on June 17, 2022.

You can read a copy of the bar here.

Discharge from Citigroup Global Markets

On August 31, 2021, Cesar Alfonzo was fired from Citigroup Global Markets following an investigation into his receipt of a U.S. Small Business Administration loan and whether this loan was related to outside business activities undisclosed to his firm.

FINRA Rule 3270

FINRA Rule 3270 requires brokers to disclose any business activities they take part in outside of their member firm. Brokers must provide their firm with information about their role in the business activity and any compensation they expect to receive.

Other Business Activities

Cesar Alfonzo’s detailed BrokerCheck report does not list any outside business activities.

Background Information

Cesar Alfonzo has passed the following exams:

  • Series 66 – Uniform Combined State Law Examination
  • Series 31 – Futures Managed Funds Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination

He previously worked for Citigroup Global Markets (CRD#:7059).

Kurta Law Can Help

If you worked with Cesar Alfonzo and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.