Salvatore Carollo Suspended by FINRA
Salvatore Carollo (CRD #: 5047673) has been suspended by FINRA, according to his BrokerCheck record, accessed on July 1, 2022. If you have questions about Salvatore Carollo’s conduct as a broker, keep reading.
Suspension by FINRA
On April 7, 2022, FINRA provided Salvatore Carollo with a Notice of Suspension for allegedly failing to respond to requests for information. He is indefinitely suspended from associating with FINRA members in all capacities starting on May 2, 2022.
FINRA Rule 9552
FINRA Rule 9552 requires brokers to respond to requests for information, documents, or testimony. The suspension will last for three months. If the broker does not request the termination of the suspension, the suspension will convert to a bar.
Termination from Allstate Insurance Company
On September 8, 2021, Salvatore Carollo was fired by Allstate Insurance Company after allegedly referring an auto repair claim to an auto repair business he was personally involved in without disclosing the outside business activity to his firm.
Other Outside Business Activities
Salvatore Carollo’s detailed BrokerCheck report does not list any outside business activities.
FINRA Rule 3270
FINRA Rule 3270 requires brokers to disclose any business activities they participate in outside of their firm and receive approval before conducting any outside business.
Salvatore Carollo 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
He has also worked for Allstate Financial Services (CRD#:18272).
Kurta Law Can Help
If you worked with Salvatore Carollo and you have concerns about your investments, please contact us today at 877-600-0098 or firstname.lastname@example.org 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.