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Erin Verespy: Former HD Vest Advisor Barred Over Misappropriation Allegations

A disciplinary action taken by the Financial Industry Regulatory Authority against former Trumbull, Connecticut broker and investment advisor Erin Verespy (CRD# 2727866) barred her over findings she refused to appear for testimony connected to an investigation into alleged misappropriation of customer funds. A former representative of HD Vest Investment Services, Verespy was indefinitely barred from acting as a broker or otherwise associating with a broker-dealer firm as a result of these findings.

According to a Letter of Acceptance, Waiver and Consent (No. 2018058108001) dated April 2019, Erin Verespy’s former member firm, HD Vest Investment Services, disclosed on April 6, 2018 that Verespy had been named as the defendant in an “investment-related, consumer-initiated… civil litigation.” The litigation alleged that in her role as a bookkeeper and financial advisor, Verespy “misused and misappropriated” the claimants’ funds. In order to resolve the litigation, Verespy “entered into a settlement agreement.” Later, in March 2019, FINRA requested she appear for on-the-record testimony on April 5, 2019. Through counsel, Verespy informed FINRA that she would not appear for such testimony. FINRA’s findings state that this refusal constituted a violation of FINRA Rules 8210 and 2010. As a result of the foregoing alleged conduct, Verespy was barred from acting as a broker or otherwise associating with a broker-dealer firm.

Verespy’s disclosure records also list a settled customer complaint against her. The 2018 complaint alleged that as a representative of HD Vest Investment Services, she misused and misappropriated the customers’ funds. It reached a settlement in January 2019 of $1,000,000.

Erin Verespy is not currently registered as a broker or investment advisor. Her employment history includes HD Vest Investment Services in Trumbull, Connecticut and BankBoston Investor Services. She currently holds no state registrations and has passed five securities industry qualification examinations.

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