FINRA’s Department of Enforcement entered a default decision September 22, 2021 against Elizabeth Ann Sollars, a former Allstate Financial Services, LLC broker, for failing to deliver information and documentation, as well as failing to present and provide testimony to FINRA in accordance with FINRA Rule 8210.
The material was requested as part of FINRA’s investigation into claims that Sollars misappropriated insurance customer premium money while she was registered with her firm.
Sollars has two years of experience in the securities sector, and between June 2017 and January 2020, was registered as a broker with Allstate Financial Services, LLC in Terre Haute, IN.
Financial advisers and customer accounts must be appropriately supervised by brokerage businesses like Allstate Financial Services, LLC. To ensure compliance with securities laws and industry rules, brokerage companies must also build and maintain an adequately structured system to oversee account activity. Brokerage firms may be held accountable for losses if a brokerage business fails to adequately supervise its financial advisors or investment account activities.
Maddox Hargett & Caruso, P.C. represents investors nationwide who are trying to recover their losses. You can call or email our senior partner Mark Maddox to have your potential case evaluated at no charge. Please call 317-598-2043 or email him at firstname.lastname@example.org.