The Soreide Law Group, (888) 760-6552, recently obtained the summation of information from FINRA’s website listed as “Disciplinary and Other FINRA Actions, February, 2014.”
Shelby Lee Bowles (CRD #1982481, Registered Principal, Newburg, Maryland)
has been fined $40,000 and suspended by FINRA for 10 months. Shelby Bowles consented to the sanctions and findings that he was the power of attorney, trustee, executor and sole beneficiary to his client without informing his firm. FINRA reported that Shelby Bowles drew up a trust agreement and will for a customer and the customer executed this agreement which then placed her assets, exceeding $1,000,000 into this trust.
FINRA stated that the trust appointed Shelby Lee Bowles as the sole trustee, and at a later time Bowles then appointed his own wife as the beneficiary of the trust.
According to FINRA's findings, Bowles denied on many occasions on forms and to firm personnel that he had not been the beneficiary, executor, trustee, or power of attorney for any of his clients.
Bowles also failed to respond to FINRA's requests for tax returns, and bank
account statements.
This suspension is in effect from December 16, 2013, through October 15, 2014. (FINRA Case #2012031886901)
Shelby Lee Bowles, according to FINRA's BrokerCheck, was previously registered with the following FINRA firm(s):
SECURITIES SERVICE NETWORK, INC. (CRD# 13318) - NEWBURG, MD
01/2010 - 03/2012
MEDALLION INVESTMENT SERVICES, INC. (CRD# 45314) - NEWBURG, MD
01/1999 - 12/2009
SECURITIES SERVICE NETWORK, INC. (CRD# 13318) - KNOXVILLE, TN
01/1997 - 12/1998
IFG NETWORK SECURITIES, INC. (CRD# 19948) - ATLANTA, GA
01/1996 - 12/1996
COMPREHENSIVE FINANCIAL SERVICES, INC. (CRD# 22710) 01/1992 - 01/1996
H.D. VEST INVESTMENT SECURITIES, INC. (CRD# 13686) - IRVING, TX
11/1989 - 03/1992
This summation of information from FINRA’s website ends here.
Please call and attorney for a free consultation on how to potentially recover your financial investment losses: 888-760-6552.
Contact Soreide Law Group for a Free Review of Your Potential Investment Loss Claim If your financial advisor recommended Creative Media & Community Trust (NASDAQ: CMCT) and you suffered substantial losses, you may have legal rights. A CMCT investment loss attorney can help you understand your options and pursue recovery. Many investors purchased CMCT believing […]
Soreide Law Group is investigating potential investor claims involving Cambridge Investment Research following a FINRA disciplinary action concerning Unit Investment Trust (UIT) recommendations. In April 2026, FINRA censured Cambridge Investment Research after finding supervisory deficiencies involving certain UIT recommendations made to retail clients. Investors who incurred excessive fees, unnecessary costs, or other damages associated with […]
Soreide Law Group is investigating potential investor claims involving Infinity Financial Services after FINRA sanctioned the firm for supervisory failures involving deferred variable annuity exchanges and recommendations. Investors who incurred surrender charges or other losses in connection with variable annuity transactions recommended through Infinity should review the allegations that led to FINRA's disciplinary action against […]
Phone:
Fax: 1-954-760-6553
Email: info@securitieslawyer.com