Wells Fargo’s Laura Cava Barred For Disregarding FINRA Requests

Laura Ann Cava (CRD #: 5092233) has been a registered representative of Wells Fargo Clearing Services, LLC (Lehigh Acres, Florida) between April 11, 2006 and May 5, 2017. Financial Industry Regulatory Authority (“FINRA”) barred Cava in all capacities on October 23, 2017, citing allegations that Cava failed to respond to FINRA’s request for information. FINRA may have been inquiring into Cava’s activities for possible violations of FINRA rules.

Particularly, Cava did not leave Wells Fargo Clearing Services on a good note. She was discharged on May 5, 2017 for allegedly violating company policy by borrowing from several banking customers. FINRA Rule 3240 precludes borrowing arrangements between customers and registered representatives absent the borrowing arrangement meeting certain criteria.

FINRA indicated on Cava’s FINRA BrokerCheck page that Cava was suspended in all capacities on August 11, 2017 for failing to respond to FINRA’s request for information. Cava was provided approximately three months to comply with FINRA’s requests or otherwise seek that her suspension be terminated. Since Cava failed to provide FINRA with the required information by October 22, 2017, she was automatically barred on October 23, 2017. (FINRA Action #: 2017054338601)

If you have suffered losses due to the misconduct of your Wells Fargo broker or financial adviser, call the Law Office of Peter M. Spett at (561) 463-2799 for a free consultation concerning your legal rights and claims. Peter M. Spett has extensive experience recovering investor losses.