Securities Lawyers Blog
According to BrokerCheck records financial advisor Charla Kabana (Kabana), formerly employed by SagePoint Financial, Inc. (SagePoint) has been subject to one regulatory action, one one employment termination for cause, and multiple financial disclosures during her career. According to records kept by The Financial Industry Regulatory Authority (FINRA), the regulatory action against Kabana concern allegations over variable annuity sales practices.
In August 2018 Kabana consented to sanctions and to the entry of findings that she failed to provide FINRA with the documents and information requested in connection with its investigation concerning the reasons for her termination including concerns regarding her practices in respect to variable annuity business and related responses to compliance. Because Kabana refused to appear for FINRA and provide on-the-record testimony FINRA automatically barred her from the industry.
In July 2016, LPL Financial LLC (LPL Financial) discharged Kabana claiming that the firm had concerns regarding the Representative’s practices in respect to variable annuity business and related responses to compliance.