Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Leo Vassallo (Vassallo), previously associated with International Assets Advisory, LLC, has at least one disclosable event. These events include one tax lien, alleging that Vassallo recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on November 11, 2024.
Without admitting or denying the findings, Vassallo consented to the sanctions and to the entry of findings that he caused his member firm to maintain inaccurate books and records by falsifying customer signatures on account documents. The findings stated that Vassallo electronically signed, with permission, the names of customers on account documents that included account applications and account transfer forms. These documents were required books and records of the firm. None of the customers complained and the transactions were authorized. In addition, Vassallo falsely attested to his firm in a compliance questionnaire that he had not signed or affixed another person’s signature on a document.
