Arthur McRae Of Wells Fargo Fined By FINRA For Discretionary Trading

Financial Industry Regulatory Authority sanctioned securities broker Arthur Craigg McRae [CRD: 4697209, Williamsville, New York], given the public information found on BrokerCheck. McRae worked for Wells Fargo Advisors Financial Network LLC from August 1, 2014, to October 3, 2024. Investors are encouraged to continue reading to discover more about McRae’s disclosures.

FINRA Suspended And Fined McRae For Trading In Client Accounts

Specifically, on June 30, 2026, FINRA issued Case No. 2024083542701 sanctioning Arthur McRae. Specifically, McRae received a suspension from associating with any FINRA member in all capacities and a $5,000 fine. Notably, FINRA alleged that McRae made investment decisions in six Wells Fargo client accounts without completing the written authorization process required for discretionary trading.

The regulatory matter concerned activity that allegedly occurred from December 2023 through March 2024. FINRA stated that McRae placed transactions in six client accounts without consulting the clients on the days the trades occurred. The clients reportedly understood that McRae would make certain trading decisions for them, but FINRA alleged that the necessary written permissions were not in place.

FINRA also stated that Wells Fargo Advisors Financial Network LLC had not formally approved the accounts for discretionary management. According to the regulator, McRae’s decisions included choosing the securities involved and determining the quantities to be bought or sold, rather than merely deciding when to place a trade or at what price.

Additionally, FINRA alleged that McRae provided an inaccurate answer on an annual firm compliance questionnaire concerning whether he had used discretion in client accounts. FINRA determined that the conduct violated FINRA Rules 3260(b) and 2010.

McRae consented to the findings and sanctions without admitting or denying them. His suspension began on June 30, 2026, and ended on July 14, 2026.

Arthur McRae Discharged By Wells Fargo For Trading Issues And Mismarking Trades

Also, Wells Fargo Advisors Financial Network LLC disaffiliated with McRae on September 13, 2024. Allegedly, McRae used discretion in trading and mismarked trade confirmations.

Have You Made Investments Through Financial Advisor / Securities Broker McRae?

Did you sustain losses because of Arthur McRae? You should contact Soreide Law Group at (888) 760-6552 or online and speak with a securities attorney concerning a possible recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the country. Also, our securities lawyers work on a contingency fee basis and advance all costs. McRae and brokerage firms McRae worked for deny accusations of sales practice violations.