Proceeding Number 2008011725901

Hearing Panel Decision in Department of Enforcement v. Carlos Francisco Otalvaro

June 24, 2011

Respondent Carlos Francisco Otalvaro is suspended from associating with any FINRA member firm in any capacity for one year, barred from acting as a principal for any FINRA member firm, and fined $15,000 for willfully failing to disclose material information on his FormU4, willfully failing to update his Form U4 to disclose material information within the time required by NASD and FINRA Rules and By-Laws, and willfully filing amended Forms U4 that omitted material information, in violation of FINRA and NASD By-Laws, NASD Conduct Rule 2110, IM-1000-1, and FINRA Rules 1122 and 2010.

View Decision (PDF 73 KB)