FINRA

Without admitting or denying the findings, Garbarino consented to the sanction and to the entry of findings that he falsely testified during a FINRA Arbitration that his office staff at his member firm did not photocopy and reuse customer signatures to create annuity company change of broker forms, and each of the customer signatures contained in a sample of those forms were authentic and non-identical. The findings stated that the Arbitration involved issues relating to the authenticity of customer change of broker forms submitted by Garbarino's office staff to several annuity companies. During Garbarino's testimony at the Arbitration, he was shown a group of the submitted change of broker forms and asked whether certain of the customers' signatures on the forms were photocopied and used to create new forms. Garbarino testified that the customers' signatures were authentic and not photocopies of the originals. The findings also stated that Garbarino knew at the time of his testimony that his son, who worked in his office, obtained from certain customers executed, but partially blank, signature pages for such forms, photocopied those pages and used the copies to create falsified new forms containing identical, non-authentic signatures. These falsified forms were then submitted to several annuity companies as originals.

Acceptance, Waiver & Consent(AWC)

Bar (Permanent)

All Capacities

Indefinite

9/13/2017

Lincoln Financial Advisors

Discharged

FINRA made a preliminary determination to pursue disciplinary action against the representative in connection with FINRA's allegations that he provided false testimony under oath.

$55,745.00

Tax

Bankruptcy

CLIENT SUBMITTED A CLAIM FORM TO THE CLAIMS RESOLUTION PROCESS RELATING TO THE PURCHASES OF VARIOUS LIMITED PARTNERSHIPS DURING THE PERIOD 9/83 TO 11/93. I WAS THE BROKER OF RECORD AT THE TIME OF PURCHASES. NO DAMAGES WERE ALLEGED, BUT THE AMT OF ACTUAL LOSS IS $5,573.

$5,573.00

$13,210.00

A SETTLEMENT WAS REACHED IN THE CLAIMS RESOLUTION PROCESS FOR $13,210. THE "SETTLEMENT" INVOLVED THE WELL PUBLICIZED LIMITED PARTNERSHIP CLASS ACTION. SPECIFICALLY, THERE WAS A CONCENTRATION ISSUE FOR A CLIENT IN PRUDENTIAL ENERGY (?) FUND. DATES OF SETTLEMENT ARE NOT RECALLED WITH ANY DECREE OF ACCURACY AS THE DATE OF SALE DOES NOT RELATE TO DATE OF "SETTLEMENT".