According to FINRA, Angel Lynn Gulizio (CRD #5311672), a registered representative based in Great River, New York, was fined $5,000 and suspended from association with any FINRA member in all capacities for one month after it was found that she falsely certified the completion of continuing education requirements for her state insurance license.

The requirement that financial professionals personally complete continuing education coursework is a fundamental element of the professional licensing system. These educational mandates are designed to ensure that individuals who hold themselves out as qualified to advise the public on insurance and financial matters possess current, relevant knowledge. The certification of completion is a formal attestation to a state regulatory authority, and any falsification of that certification is taken seriously by both state regulators and self-regulatory organizations like FINRA.

In Gulizio's case, FINRA found that she certified to the State of New York that she had personally completed 15 hours of continuing education required to renew her state insurance license. The findings established that another person had, in fact, completed that continuing education on her behalf. By signing off on the certification, Gulizio made a material misrepresentation to a state regulatory body regarding her compliance with licensing requirements.

Without admitting or denying the findings, Gulizio consented to the sanctions and to the entry of findings against her through an Acceptance, Waiver, and Consent (AWC) agreement issued on August 13, 2024. She was sanctioned with a $5,000 fine and a one-month suspension from association with any FINRA member in all capacities. The suspension was in effect from September 3, 2024, through October 2, 2024. This matter is documented under FINRA Case #2024081399401.

Gulizio's enforcement action was part of a broader series of FINRA disciplinary actions targeting New York-based registered representatives who had others complete their required continuing education on their behalf. The prevalence of these cases during this enforcement period suggests that FINRA has developed effective methods for detecting this type of fraud and is committed to holding violators accountable.

Investors should understand that continuing education fraud, while it may not directly involve mishandling of client funds, is nonetheless a meaningful indicator of a financial professional's ethical standards. Professionals who are willing to take shortcuts on their own licensing requirements may be more likely to take shortcuts in other areas that affect their clients. Investors are encouraged to use FINRA BrokerCheck to research the background of any financial professional before engaging their services, paying attention to any history of disciplinary actions or regulatory sanctions.