James Ciocia (CRD# 1619245), a financial advisor in Tampa, Florida, has received investor complaints alleging six-figure damages. Financial Industry Regulatory...Read More
Tyler Rigsbee: Ex-Sacramento Rep Barred by FINRA
Tyler Rigsbee (CRD# 6351278), previously a Sacramento-based stockbroker, was sanctioned by FINRA in July over findings he refused to produce information connected to an inquiry into allegations of unauthorized fund transfers. Formerly a representative of Wells Fargo Clearing Services, he was indefinitely barred from acting as a broker or otherwise associating with a broker-dealer firm.
According to a Letter of Acceptance, Waiver and Consent (No. 2021071026301) released in July 2021, Tyler Rigsbee was registered with Wells Fargo Clearing Services as a General Securities Representative from 2016 until April 2021, when the firm discharged him after an internal review involving documents that “appear to show that client funds were received in his personal bank account after being transferred from Wells Fargo to a third party broker dealer, and then on to his bank account, without permission from clients.” After the firm disclosed his termination, FINRA sent Mr. Rigsbee a request to produce documents and information, as it is empowered to do by FINRA Rule 8210. According to the AWC Letter, Mr. Rigsbee indicated to FINRA via counsel on June 22, 2021 that he was in receipt of its request but would not produce the documents or information “at any time.” FINRA’s findings state that his refusal constitutes a violation of FINRA Rule 8210, which requires persons under FINRA’s jurisdiction to provide information requested as part of FINRA investigations, as well as FINRA Rule 2010, which requires FINRA-associated persons “to observe high standards of commercial honor and just and equitable principles of trade in the conduct of their business.”
As a result of the findings outlined in the AWC Letter, FINRA indefinitely barred Tyler Rigsbee from associating with any FINRA member firm in any capacity.
According to the Financial Industry Regulatory Authority, Tyler Rigsbee holds six years of securities industry experience. He is not presently registered with any FINRA member firm, having been barred by FINRA in July 2021. His past registrations include Wells Fargo Clearing Services (Sacramento, California; 2016-2021) and Edward Jones (El Dorado Hills, California; 2014-2016). His credentials include the passage of three securities industry qualifying examinations: the Uniform Combined State Law Examination, or Series 66; the Securities Industry Essentials Examination, or SIE; and the General Securities Representative Examination, or Series 7. He presently holds no state licenses. (Information accessed on January 6, 2022.)
Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.