Vincent LaBarbara Suspended by FINRA for Undisclosed Lending Arrangement

Vincent LaBarbara (CRD #: 1108987), a broker registered with Network 1 Financial Securities, has been suspended by FINRA, according to his BrokerCheck record, accessed on March 10, 2025. Read on to learn more about his alleged conduct as a broker.

FINRA Suspension

On December 30, 2024, Vincent LaBarbara consented to the entry of findings that he allegedly entered into a lending arrangement with a client without receiving approval from Network 1 Financial Securities.

According to a Letter of Acceptance, Waiver & Consent (AWC), Vincent LaBarbara allegedly received an offer from a client in 2019 to assist with his home purchase.

The client allegedly obtained a mortgage in May 2019 and used the funds to purchase a home on Vincent LaBarbara’s behalf in return for him making the mortgage payments. The client allegedly transferred the title to the home to Vincent LaBarbara in July 2021.

During the relevant period, Network 1 Financial Securities’ supervisory procedures allegedly required brokers to notify the firm about proposed lending arrangements and to receive written approval before entering into the agreement.

Vincent LaBarbara allegedly failed to notify or receive approval from his firm for this arrangement.

The AWC concluded that these allegations constituted violations of FINRA Rules 3240 and 2010.

FINRA Rule 3240

FINRA Rule 3240 describes the limited circumstances under which brokers may borrow from or lend to clients, such as loans between immediate family members.

FINRA Rule 2010

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

Sanctions

Vincent LaBarbara consented to the following sanctions:

• Two-month suspension from associating with FINRA members
• $5,000 fine

His suspension began on January 21, 2025, and will end on March 20, 2025. You can access the full AWC here.

Background Information

Vincent LaBarbara has passed the following exams:

• General Securities Principal Examination – Series 24
• Operations Professional Examination – Series 99TO
• Investment Banking Registered Representative Examination – Series 79TO
• Securities Industry Essentials Examination – SIE
• General Securities Representative Examination – Series 7
• Uniform Securities Agent State Law Examination – Series 63

Vincent LaBarbara is a registered broker in 19 states.

He has also worked for the following firms:

• Skyebanc (CRD#:44164)
• VFinance Investments (CRD#:25121)
• First Level Capital (CRD#:44962)
• Commonwealth Associates (CRD#:20833)
• D. H. Blair & Company (CRD#:6833)

Kurta Law Can Help

If you worked with Vincent LaBarbara 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 that 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.