Richard Logalbo Suspended by FINRA
Richard Logalbo (CRD #: 3095858), a broker formerly registered with Cetera Investment Services, was recently suspended by FINRA, according to his BrokerCheck record, accessed on March 23, 2023. If you want to know more about his alleged conduct as a broker, keep reading.
FINRA Suspension
On February 16, 2023, Richard Logalbo received a Letter of Suspension from FINRA alleging that he failed to comply with an arbitration award/settlement agreement or failed to sufficiently respond to a request for information concerning his compliance.
His suspension ran from February 16 to March 21, 2023.
On January 25, 2022, Equitable Advisers and Equitable Network alleged that Richard Logalbo breached a promissory note. The arbitration agreement that followed obligated Richard Logalbo to pay $65,331 in damages and $8,451 in interest, as well as additional fees. You can read that arbitration agreement here.
FINRA Rule 9554
FINRA Rule 9554 penalizes brokers who fail to comply with arbitration awards or settlements by suspending or canceling their registration. Brokers have 21 days to request a hearing before their suspension or cancellation becomes final.
Background Information
Richard Logalbo has passed the following exams:
- Series 66 – Uniform Combined State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 55 – Limited Representative-Equity Trader Exam
- Series 7 – General Securities Representative Examination
He has also worked for the following firms:
- Cetera Investment Services (CRD#:15340)
- MML Investors Services (CRD#:10409)
- Equitable Advisors (CRD#:6627)
- J.P. Morgan Securities (CRD#:79)
- Chase Investment Services (CRD#:25574)
- Lighthouse Financial Group (CRD#:103734)
- RBC Capital Markets (CRD#:31194)
- UBS PaineWebber (CRD#:8174)
- Salomon Smith Barney (CRD#:7059)
Kurta Law Can Help
If you worked with Richard Logalbo 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.
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