Soreide Law Group, obtained the following summary of information from FINRA’s website under “Disciplinary and Other FINRA Actions, October, 2014.”
Craig Shiver Smith (CRD #3103610, Birmingham, Alabama)
was barred by FINRA for alleged unauthorized trades in a customer’s account, and exercised time and price discretion without written authority from the client.
FINRA's findings stated that a client instructed him to sell the equities positions in his account for $64,000. Instead Smith used discretion to only sell certain holdings. Smith allegedly traded in order to generate commissions.
According to FINRA, Smith's firm's policy did not permit exercising discretion in that particular type of account and Smith did not have written discretionary authority from the client.
(FINRA Case #2013038196001)
Craig Smith was previously registered with the following securities firm(s):
11/2009 - 09/2013 SAGEPOINT FINANCIAL, INC. (CRD# 133763) - HOOVER, AL
07/2007 - 11/2009 LPL FINANCIAL CORPORATION (CRD# 6413) - BIRMINGHAM, AL
11/2004 - 06/2007 MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED (CRD# 7691) - BIRMINGHAM, AL
06/2003 - 11/2004 TD WATERHO-- USE INVESTOR SERVICES, INC. (CRD# 7870) - OMAHA, NE
08/1998 - 04/2003 COMPASS BROKERAGE, INC. (CRD# 17086) - BIRMINGHAM, AL
This ends the summary of information from FINRA's website.
If you have become a victim of unauthorized trading, please contact Soreide Law Group for a free consultation with an attorney at 888-760-6552.
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