On April 25, 2022, Garza-Clark consented to the sanction to the sanction and to the entry of findings that she refused to appear for on-the-record testimony requested by FINRA. The findings stated that this matter originated from an investigation regarding Garza-Clark’s relationship with a former client, including her potential receipt of cash gifts from that client.
According to a FINRA AWC, in March 2022, FINRA sent Garza-Clark a notice to appear for on-the-record testimony pursuant to FINRA Rule 8210. Garza-Clark refused to appear for this testimony, which was a violation of FINRA Rules 8210 and 2010. FINRA barred her from the securities industry for her failure to appear.
An AWC is a settlement with FINRA’s Enforcement Division. The AWC provides background on facts regarding FINRA’s findings and cites the FINRA rules which the self-regulatory organization believes the individual and/or firm violated. The AWC also provides details relating to the agreed upon penalties that are being imposed as part of the settlement, which can include a cease and desist, fine, suspension, bar, or combination thereof. Penalties vary from cease and desist of the alleged wrongdoing and typically includes a fine, a suspension, a bar or a combination of thereof.
Garza-Clark first entered the securities industry as Investment Company and Variable Contracts Products Representative and associated with a FINRA member firm. In July 2017, Garza-Clark associated with TCFG Wealth Management, LLC and registered with FINRA as an Investment Company and Variable Contracts Products Representative. Respondent’s association with TCFG Wealth Management, LLC was terminated in May 2020.
According to FINRA BrokerCheck, in June 2020, a customer alleged that the sale of an unsuitable investment resulting in loss of $950,000. The customer alleged several causes of action, including Unsuitability; Fraud; Breach of Contract; Breach of Fiduciary Duty; Negligent Supervision, Violation of Arizona Consumer Fraud Act; Violation of Arizona Securities Act. It seeks unspecified actual and punitive damages, interest, costs and attorneys’ fees.
Janie Garza-Clark has been registered with several brokerage firms, including:
KlaymanToskes is a leading national securities law firm practicing exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. KlaymanToskes has recovered more than $230 million for investors in FINRA arbitrations. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.