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Regulatory Notice 20-32
Summary
FINRA has recently observed an increase in fraudulent options trading being facilitated by (1) account takeover schemes (sometimes referred to as account intrusions), through which a bad actor gains unauthorized entry to a customer’s brokerage account; and (2) the use of new account fraud1 by a bad actor who fraudulently establishes a brokerage account through identity theft.
2020066435801 Alonzo C. Castillo CRD 7207820 AWC RRM (2020-1602807573579).pdf
FINANCIAL INDUSTRY REGULATORY AUTHORITY LETTER OF ACCEPTANCE, WAIVER AND CONSENT
NO. 2020066435801
TO: Department of Enforcement
Financial Industry Regulatory Authority (FINRA)
RE: Alonzo C. Castillo, Respondent
Former Associated Person CRD No. 7207820
Pursuant to FINRA Rule 9216 of FINRA’s Code of Procedure, Respondent Alonzo C. Castillo submits this Letter of Acceptance, Waiver and Consent (AWC) for the purpose of proposing a settlement of the alleged rule violations described below.