Francis Cid Barred in Connection to a Private Securities Transaction Allegation
Francis Cid (CRD #: 2897738), a previously registered broker registered with Eastgate Securities, has been barred by FINRA, according to his BrokerCheck record, accessed on March 9, 2022.
On January 28, 2022, Francis Cid consented to the findings that he refused to produce information or documents in connection with a FINRA investigation into his possible participation in private securities transactions. These transactions allegedly involved an entity that Francis Cid controls.
You can read a copy of the bar here.
FINRA Rule 3280 states that investors must not participate in a private securities transaction without disclosing that transaction to the firm in writing. The disclosure must also state the broker’s role in the transactions as well as any selling compensation they might receive. Brokers must receive written approval for the securities transaction from the firm.
The bar does not list what type of private securities transaction Francis Cid allegedly completed. He has two outside businesses on his detailed BrokerCheck record:
- CloudChayne Inc.: IT Consulting
- Monolith Global Group: Expense Payments
Background Information
Francis Cid has passed the following exams:
- Series 63 Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
He has worked with the following firms:
- Eastgate Securities (CRD #: 146671)
- CBC Securities (CRD #: 46153)
- Joseph Stone Capital (CRD #: 159744)
- Richard James & Associates (CRD #: 169131)
- Craft Capital Management (CRD #: 171350)
- Sovereign Global Advisors (CRD #: 167663)
- Lampert Capital Markets (CRD #: 103725)
- John Carris Investments (CRD #: 145767)
- National Securities Corporation (CRD #: 7569)
- Brookstone Securities (CRD #: 13366)
- Rockwell Global Capital (CRD #: 142485)
- Obsidian Financial (CRD #: 104255)
- New Castle Financial Services (CRD #: 102380)
- CitiGroup Global Markets (CRD #: 7059)
- Empire Financial Group (CRD #: 28759)
- Gunnallen Financial (CRD #: 17609)
Kurta Law Can Help
If you have worked with Francis Cid and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
For nearly 20 years, Kurta Law has advocated on behalf of investors who have lost money following broker fraud or misconduct. Kurta Law is a nationally recognized law firm and exclusively represents investors on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf. Our attorneys will work tirelessly to restore your lost funds and get your financial future back on track.