FINRA Suspends Leo Vassallo for Alleged Signature Falsification

Leo Vassallo (CRD #: 1920639), a broker formerly registered with International Assets Advisory, allegedly falsified client signatures, according to his BrokerCheck record, accessed on December 6, 2024. If you want to know more about his alleged conduct as a broker, read on.

FINRA Suspension

On November 11, 2024, Leo Vassallo consented to the entry of findings that he allegedly falsified the electronic signatures of 16 clients on a total of 63 account documents in June and July 2020, causing LPL Financial to maintain inaccurate books and records.

A Letter of Acceptance, Waiver & Consent (AWC) alleged that these documents included account applications and account transfer forms. The AWC alleged that, in 2021, Leo Vassallo falsely attested in a firm compliance questionnaire that he had not signed or affixed another person’s signature on any documents.

The AWC concluded that this alleged misconduct constituted violations of FINRA Rules 4511 and 2010.

FINRA Rule 4511

FINRA Rule 4511 requires that firms maintain accurate books and records.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. The falsification or forgery of client signatures violates this rule.

Sanctions

Leo Vassallo consented to the following sanctions:

• 2-month suspension from associating with FINRA members
• $5,000 fine

His suspension began on November 18, 2024, and will end on January 17, 2025. You can read the full AWC here.

Termination from LPL Financial

On June 26, 2021, Leo Vassallo was fired from LPL Financial for allegedly electronically signing account documents on behalf of clients.

Background Information

Leo Vassallo has passed the following exams:

• Securities Industry Essentials Examination – SIE
• General Securities Representative Examination – Series 7
• Uniform Securities Agent State Law Examination – Series 63

He previously worked for the following firms:

• International Assets Advisory (CRD#:10645)
• Cambridge Investment Research (CRD#:39543)
• LPL Financial (CRD#:6413)
• Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691)
• PaineWebber (CRD#:8174)

Kurta Law Can Help

If you worked with Leo Vassallo and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.