← Broker database 2025-06-23
Vincent Gilliard Barred for Refusing to Provide Testimony to FINRA
According to FINRA, Vincent Gilliard was barred from association with any FINRA member in all capacities for refusing to appear for on-the-record testimony requested during a FINRA investigation.
The investigation related to inaccurate registration information referenced on a Form U5 that Gilliard's former member firm filed on his behalf. The Form U5 disclosed that Gilliard was discharged because he provided inaccurate registration information involving his discharge from his previous firm.
Registration information accuracy is critical to the integrity of the securities industry. The Form U4 (Uniform Application for Securities Industry Registration) requires individuals to disclose important information including their employment history, disciplinary history, and the circumstances under which they left previous positions. This information helps firms make informed hiring decisions and allows regulators and investors to evaluate the backgrounds of those working in the industry.
When registration information is inaccurate, it can conceal important facts about a person's background. In this case, Gilliard's former firm discovered that he had provided inaccurate information about his departure from a previous employer and terminated him as a result.
FINRA sought to investigate the circumstances surrounding this inaccurate information by requesting on-the-record testimony from Gilliard. On-the-record testimony is a formal interview where the witness provides answers under oath, creating an official record. Gilliard refused to appear for this testimony, preventing FINRA from fully investigating the matter.
Without admitting or denying the findings, Gilliard consented to the bar. This permanent sanction prohibits him from working in any capacity with any FINRA member firm.
Investors can use FINRA's BrokerCheck tool to research the backgrounds of brokers and firms, including any disciplinary history. Accurate disclosure of registration information helps ensure that this tool provides reliable information to protect investors.