Gus Gatto Voluntarily Resigned from ADP Following Heightened Supervision Plan
Gus Gatto (CRD #: 6301506) has voluntarily resigned from his role at ADP Broker-Dealer, according to his BrokerCheck record, accessed on October 27, 2021. Details about his resignation are provided below.
On September 2, 2021, Gus Gatto voluntarily resigned from his role at ADP Broker-Dealer. He allegedly resigned when he received notification that he was being placed on a formal heightened supervision plan and training plan.
What is a Heightened Supervision Plan?
FINRA requires that firms implement a supervisory procedure designed to reasonably ensure that brokers follow FINRA rules. Firms should review their brokers’ transactions and have a system in place that flags potentially unsuitable investments and catches signs of possible money laundering. Heightened supervisory plans may involve a regular review of the broker’s transactions and might disqualify a broker from trading in discretionary accounts.
The disclosure on Gus Gatto’s record does not state why ADP Broker-Dealer placed him on a heightened supervision plan. FINRA and the SEC have stated in a regulatory notice that firms should apply heightened supervisory plans for brokers with a history of regulatory-related incidents. If the broker has a recent history of customer complaints, disciplinary actions involving sales practice abuse, or adverse arbitration decisions, the firm must determine if they need a heightened supervisory plan or if their existing supervisory procedures are sufficient.
Gus Gatto Background Information
Gus Gatto has passed the following exams:
- Series 63 Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 6 Investment Company Products / Variable Contracts Representative Examination
Gus Gatto has worked with the following firms:
- ADP Broker-Dealer (CRD #: 37693)
- Securian Financial Services (CRD #: 15296)
Kurta Law Can Help
If you suffered losses after working with Gus Gatto, don’t hesitate to contact us today at 877-600-0098 or firstname.lastname@example.org for a free consultation.
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