An appealed disciplinary decision barring Richard Daniel Tabizon II of Rosemead, California from the securities industry became final, affirming FINRA's decision to expel Tabizon for directing a representative to solicit backdated outside business activity and private securities transaction forms, and then submitting them to FINRA without disclosing that they had been backdated.
An extended hearing panel found that Tabizon (CRD #2601208)'s actions were meant to deceive FINRA, and his use of personal e-mail to conduct firm business caused his former firm, NMS Capital Securities of Beverly Hills, to maintain inaccurate books and records.
Enforcement's initial complaint alleged that Tabizon, along with several other NMS Capital personnel, including owner Trevor Michael Saliba, ex-CEO Sperry Randall Younger, and associate Arthur Mansourian, violated certain restrictions pertaining to outside business activity and private security transaction compliance forms, supplied FINRA investigators with false or fabricated documents, and/or lied to investigators in order to cover up that violation.
OHO Decision #2013037522501 (Final only for Tabizon, but not Saliba, Younger, or Mansourian)
Investigators charged that NMS Capital's problems begin when the firm wished to transfer ownership to Saliba in 2013, writing that the firm failed to disclose the existence of an SEC investigation into Saliba, and associated subpoena of Saliba and NMS Capital Asset Management.
In response, FINRA imposed a series of restrictions, such as prohibiting Saliba from acting as a principal or supervisor until the application process was complete, alleging that NMS, including Saliba and Tabizon, subsequently "repeatedly provided false, incomplete, and misleading information to FINRA," writing that the firm submitted forged memos and backdated compliance forms to FINRA's Los Angeles office during the investigation.
In part because Tabizon opted to represent himself while the other NMS associates under investigation opted for attorneys, the extended hearing panel decision became final for Tabizon in 2018.
FINRA's decision as to Saliba, Younger, and Mansourian remains on appeal. Saliba and Mansourian are still associated with NMS Capital (now known as NMS Capital Advisors, also of Beverly Hills), while Younger left the firm in late 2016.
If you have invested with former NMS Capital Securities broker Richard Daniel Tabizon II or with any broker or financial adviser who has illicitly altered forms such as those pertaining to disclosures and compliance, or whose use of personal e-mail or other means so as to interrupt the storage and maintenance of accurate books and records has proven harmful to your investments or interests due to a harmful outside business activity or private securities transaction, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for investigation and consultation.