Category Archives: State Farm VP Management

Miguel A. Rabio-Former State Farm VP Management Corp. Broker Barred from FINRA-Discloses Regulatory Event and Termination-El Paso, TX

April 2020- El Paso, TX

The FINRA records of Miguel Angel Rabio, a broker previously employed  by  State Farm VP Management Corp. disclose  a regulatory event resulting in his bar from the securities industry and a termination.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In April 2019, Rabio was permanently barred from the securities industry by the Securities and Exchange Commission after allegations that he refused to respond to FINRA request for information.

Rabio was employed with State Farm VP Management Corp.  from March of 2011 until 2/2019 when he was discharged after an internal review concluded that he did not follow the guidelines for the Premium Fund Account policy.

If you have problems in an account  handled by Miguel Angel Rabio call for a no charge consultation .

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

International Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Noe Garcia, Sr. of State Farm VP Management Sanctioned by Securities Regulator

Odessa, Texas

According to FINRA records, Noe Garcia, Sr.  a former investment company products and variable contracts representative for State Farm VP Management  from 5/2007-11/2015 discloses that he was sanctioned by FINRA for failing to amend FINRA reporting forms to disclose a state and a federal tax lien. In addition FINRA alleged that Garcia inaccurately responded on questionnaires that  he was not the subject of an unsatisfied lien.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

Garcia was fined $5,000 and suspended in all capacities for three months.

FINRA Case 2015047704001

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Danny M. Thomas-Former Broker with State Farm VP Management-Barred From Securities Industry

Little Rock, Arkansas

According to FINRA records, Danny M. Thomas  a broker who worked for State Farm VP Management  from 8/2003-9/2015 discloses that he was permanently barred from the securities industry in May 2016.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

Thomas, without admitting or denying the findings,  consented to the sanctions and to the entry of findings that he failed to appear for on the record testimony in connection with a FINRA investigation into allegations that Thomas failed to disclose or timely disclose multiple tax liens on FINRA reporting forms.

FINRA Case 2015047087001

The official FINRA record of Thomas discloses five outstanding tax liens in favor of the State of Arkansas ranging in amounts from $14,121 to $22,031.

If you have questions about a brokerage account handled by Danny M. Thomas, call for a no charge consultation,

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Matthew Schomburg-State Farm Agent-Katy, Texas-Sanctioned by Securities Regulator

September 29,  2015- Katy, Texas 

Matthew T. Schomburg , entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that from 11/2010-8/2013 he engaged in outside business activities and failed to give notice to his firm in violation of FINRA rules.

In addition, between May 2006-July 2012, Schomburg permitted employees to engage in a practice of signing insurance customer signatures on certain insurance documents in violation of NASD and FINRA rules.

AWC No. 2013038573201

Schomburg  was fined $15,000 and suspended from association with any FINRA regulated broker-dealer r for six months.

According to FINRA records, Schomburg  was registered with State Farm VP Management Corp.  from 6/2001-10/2013.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Adam Jensen, State Farm Broker, Sanctioned by FINRA

January 30, 2015-

Adam B. Jensen  entered into a Letter of Acceptance, Waiver and Consent  (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he submitted 41 automobile insurance applications that had been falsified in various respects in an effort to improve his sales production. Subsequently he denied having engaged in this misconduct when questioned by his supervisor.

Jensen, who was registered with State Farm VP Management Corp. at the time, was barred from the securities industry by FINRA.

FINRA Case # 2014040689101

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870