According to FINRA, Richard F. Divenuto (CRD #2513921) entered into a Letter of Acceptance, Waiver and Consent (AWC) in which he was barred from association with any FINRA member in any capacity.
Without admitting or denying the findings, FINRA announced Divenuto consented to the sanction and to the alleged findings that he violated sections of the Securities Act of 1934 and certain FINRA Rules by willfully making misrepresentations and omissions to an individual in connection with the individual’s purchase of stock in exchange for intellectual property rights he owned.
In addition, according to the AWC, Divenuto engaged in an outside business activity without providing prior written notice to his FINRA-regulated broker-dealer employer. He was also accused of making false statements, while under oath, to FINRA regarding his alleged outside business activities.
For the full FINRA findings, see FINRA Case #2013036281301.
The foregoing information, which is all publicly available on FINRA’s website, is being provided by The White Law Group. The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For a free consultation with a securities attorney, please call the firm’s Chicago office at 888-637-5510. For more information on The White Law Group, visit www.whitesecuritieslaw.com.