Thomas Ciolek Barred by FINRA Following Alleged Refusal to Provide Testimony

Thomas Ciolek (CRD #: 2314551), a broker formerly registered with LPL Financial, has been barred by FINRA, according to his BrokerCheck record, accessed on January 12, 2023. If you have questions about his alleged conduct as a broker, keep reading.

Bar by FINRA

On November 7, 2022, Thomas Ciolek consented to the entry of findings that he allegedly refused to appear for on-the-record testimony requested by FINRA as part of an investigation into his termination from LPL Financial.

According to a Letter of Acceptance, Waiver & Consent (AWC), LPL Financial allegedly filed a Uniform Termination Notice for Securities Industry Registration (Form U5) on March 17, 2021, stating that Thomas Ciolek was terminated for digitally signing account documents on behalf of certain clients.

On October 28, 2022, Thomas Ciolek allegedly informed FINRA of his refusal to appear for on-the-record testimony.

The AWC concluded that this alleged refusal violated FINRA Rules 8210 and 2010.

FINRA Rule 8210

FINRA Rule 8210 requires members to submit their books and records for inspection and to appear for testimony in connection with FINRA investigations.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.

Sanctions

Thomas Ciolek was permanently barred by FINRA starting on November 7, 2022.

You can read a copy of the AWC here.

Termination from LPL Financial

On February 19, 2021, Thomas Ciolek was fired from LPL Financial for allegedly digitally signing account documents on his clients’ behalf, in violation of firm policy.

Background Information

Thomas Ciolek has passed the following exams:

• Series 66 – Uniform Combined State Law Examination
• Series 65 – Uniform Investment Adviser Law Examination
• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 6 – Investment Company Products/Variable Contracts Representative Examination

In the past, he worked for the following firms:

• LPL Financial (CRD#:6413)
• Invest Financial Corporation (CRD#:12984)
• PNC Investments (CRD#:129052)
• VALIC Financial Advisors (CRD#:42803)
• Community Investment Services (CRD#:46332)
• Quick & Reilly (CRD#:11217)
• Fleet Enterprises (CRD#:17434)
• FIS Securities (CRD#:30533)
• Pruco Securities (CRD#:5685)

Kurta Law Can Help

If you worked with Thomas Ciolek 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.