March 21, 2017
FINRA AWC
On February 16, 2017, registered general securities representative Frederick M. Quinn Jr. a/k/a Fred Quinn (CRD# 1199551), formerly associated with Allstate Financial Services, LLC (Allstate) in Toledo, Ohio, entered into a Letter of Acceptance, Waiver and Consent (AWC) to resolve allegations FINRA made against him regarding violations of securities industry rules. These allegations arose as a result of a FINRA investigation that began shortly after February 29, 2016, when Allstate filed a Form U5 reporting that Quinn was discharged for “loss of confidence after failure to disclose multiple judgements/liens.” As part of FINRA’s investigation of Quinn, it alleged that Quinn failed to disclose eleven liens, filed against him by the Internal Revenue Service and State of Ohio totaling $235,018, in his Form U4 between 2009 and 2014. By allegedly withholding this information from Allstate, Quinn was alleged to have violated Article V, Section 2 of FINRA By-Laws, and FINRA Rules 1122 and 2010. Additionally, FINRA claims that Quinn “signed two customers’ names on a letter of instruction requesting that a check be reissued by the transferring annuity company to the accepting annuity company as part of an annuity exchange,” in violation of FINRA Rule 2010.
By signing this AWC, Quinn consented, without admitting or denying the allegations made against him by FINRA, to a nine-month suspension from associating with any FINRA member in any capacity and a $10,000 fine.