The Financial Industry Regulatory Authority (FINRA) has barred Michael Rene Pena. He is accused of submitting false continuing education course completion documents and failing to cooperate with FINRA's investigation.
According to FINRA, Pena initially cooperated with the investigation but ceased doing so in December 2021. Pena acknowledged FINRA's request for on-the-record testimony but said he would not appear at any time.
Pena's refusal to appear violated FINRA Rules 8210 and 2010. Rule 8210 requires information and testimony to be provided to FINRA when requested. Rule 2010 governs standards of commercial honor and principles of trade. Pena signed a Letter of Acceptance, Waiver, and Consent (AWC), in which he consented to FINRA's sanction.
Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.
