The US Securities and Exchange Commission is investigating Westlake Village, California stockbroker Thomas Swan (CRD# 1698430) over alleged violations of...Read More
Donald Teboe: FINRA Bars Clinton, Michigan Financial Advisor
A disciplinary action taken by the Financial Industry Regulatory Authority against former Clinton, Michigan broker Donald Teboe (CRD# 4407610) barred him after finding he failed to appear for testimony as part of its investigation into allegations of unsuitable trading. A former representative of Cantella & Company, Teboe was barred from acting as a broker or otherwise associating with a broker-dealer firm.
According to a Letter of Acceptance, Waiver and Consent (No. 2018057149701) dated September 2019, FINRA initiated an investigation in 2019 into allegations Donald Teboe made unsuitable trades while registered with three firms: Royal Securities Company, Questar Capital, and Cantella & Company. As part of this investigation, FINRA sent him a request on August 23, 2019 to appear and provide on-the-record testimony. FINRA’s findings state that Teboe indicated on August 27, 2019 that he would not appear “at any tie” to provide the requested on-the-record testimony. FINRA found this refusal to constitute a violation of FINRA Rules 8210 and 2010. As a result of the foregoing alleged conduct, Teboe was barred from associating with any FINRA member firm in any capacity.
Donald Teboe’s disclosure records also list one customer complaint filed against him. Filed in January 2018, the complaint alleged that as a representative of three firms—Royal Securities Company, Questar Capital, and Cantella & Company—he acted negligently, breached contract, breached his fiduciary duty to act in the customer’s best interests, engaged in fraud, and negligently misrepresented material facts connected to the sale of unsuitable, risky and speculative securities from 2012 until 2017. The complaint reached a settlement $5,000.
Donald Teboe is currently not registered as a broker or investment advisor. His employment history includes Cantella & Company in Clinton, Michigan; Questar Capital Corporation in Clinton, Michigan; Royal Securities Company in Ypsilanti, Michigan; Cullum & Burks Securities in Ypsilanti, Michigan; Regis Securities Corporation in Ypsilanti, Michigan; Tower Equities in Dayton, Ohio; and Questar Capital Corporation in Minneapolis, Minnesota. He currently holds zero state licenses and has passed three securities industry qualification examinations.