← Broker database 2022-11-04
Trevor Saliba Barred for Violating Interim Restrictions and Providing False Information
According to FINRA, Trevor Michael Saliba was barred from association with any FINRA member in all capacities following a National Adjudicatory Council decision on remand from the SEC. The sanction has been appealed to the SEC and is in effect pending review.
While acting as a principal of his member firm, Saliba caused the firm to violate interim restrictions placed on it pending disposition of a continuing membership application. Saliba violated the restrictions by, among other things, signing engagement agreements on behalf of the firm when such actions were prohibited.
Saliba also falsely testified during on-the-record testimony about his computer use and failed to produce all of his computers to FINRA. Additionally, he provided falsified memoranda to FINRA that purported to show he had received authorization to enter into engagement agreements while interim restrictions were in place. FINRA found that Saliba obtained backdated compliance records from firm-associated persons and provided those records to FINRA in an attempt to justify his violations of the interim restrictions.
Interim restrictions are imposed to protect investors while FINRA evaluates a firm's fitness to continue operating. Violating such restrictions demonstrates disregard for regulatory authority and investor protection. Providing false testimony and falsified documents to regulators is particularly egregious misconduct that strikes at the heart of the regulatory system.
The permanent bar, pending appeal, protects investors from a principal who demonstrated willingness to violate restrictions designed to protect them and then attempted to cover up the violations through false statements and falsified documents.