According to FINRA’s BrokerCheck, the self-regulatory body has permanently barred Nathan Silva from acting as a broker or otherwise associating with firms that sell securities to the public as of July 25th, 2016.
Silva worked for Ameritas Investment Corporation in Omaha, Nebraska from September 2007 – November 2014.
Based on additional information available on FINRA’s website, it appears that in September 2014, FINRA staff began investigating allegations of misconduct against Silva. In a telephone call on April 27,2016, FINRA staff purportedly notified Silva that they were preparing to request his on-the-record testimony pursuant to FINRA Rule 8210. In a telephone call with FINRA staff on May 5,2016, Silva allegedly stated that he would not appear for on-the-record testimony at any time. On May 9, 2016, FINRA staff sent a written request for on-the-record testimony to Silva pursuant to FINRA Rule 8210 and on May 23, 2016 Silva allegedly responded that he will not comply with that request.
As he indicated to FINRA staff and by the AWC he subsequently signed, Silva acknowledges that he received FINRA’s request, will no longer cooperate in the investigation of this matter, and will not appear for on-the-record testimony at any time. By refusing to appear for on-the-record testimony as requested pursuant to FINRA Rule 8210, FINRA alleges that Silva violated FINRA Rules 8210 and 2010.
Without admitting or denying the findings, Silva consented to the sanction and to the entry of findings that he refused to appear for FINRA on-the-record testimony as part of an investigation into allegations of misconduct against him.
FINRA’s investigation appears to be a result of a former client making allegations of misrepresentation, churning and commission gouging. According to Broker Check (FINRA), damages were granted in the amount of $63,935.66.
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 more information on the firm and it’s representation of investors, visit https://www.whitesecuritieslaw.com.