Broker George Warner Barred By FINRA, Involved In Investor Dispute Alleging Selling Away

Soreide Law Group is investigating potential investor disputes to bring against securities broker George Marshall Warner Jr. (CRD#: 2300570, Staten Island, New York). Evidently, FINRA barred Warner as a securities broker in March 2021 because of him failing to comply with an investigation. That is the second time that FINRA sanctioned Warner. In addition, two investors filed disputes alleging sales practice violations by Warner, and two employers disaffiliated with him amid allegations of misconduct. Here is a summary of these disputes.

FINRA Bars George Warner For Failure To Comply In Investigation

Notably, in March 2021, FINRA barred George Warner as a securities broker, which means that he cannot work as a securities broker for any FINRA member firm (most major securities firms in the country). This is to resolve allegations that Warner did not comply with FINRA rules on investigations. Supposedly, FINRA asked Warner for information and documents in response to allegations that he engaged in private securities transactions. Private securities transactions (also known as selling away) are where securities brokers engage in securities transactions away from their securities firm employers.

Evidently, George Warner’s attorney notified FINRA about Warner’s refusal to cooperate in the investigation. The regulator indicates that Warner did not satisfy its requests in the investigation.

Prior FINRA Sanction Against Warner

It appears that in April 2017, FINRA sanctioned George Warner for allegedly altering account documents after a client signed them, violating FINRA rules. Supposedly, Warner worked for Kestra Investment Services at the time of these alleged alterations. Notably, he agreed to pay a $5,000 fine and serve a 30-day suspension as a securities broker to resolve these allegations.

Investor Alleges George Warner Engaged In Private Securities Transactions

Also, George Warner worked for Chelsea Financial Services from September 2017 to October 2019. It appears that an investor filed an investment dispute about Warner in June 2020. This FINRA Arbitration Claim mainly alleges that Warner was selling away when he participated in the client’s purchase of a promissory note. Supposedly, Warner caused the client to experience damages by investing in the promissory note. For this reason, the client asked for $100,000 in compensation to resolve this matter.

Prior Investor Dispute Alleges Unauthorized Transaction

It appears that George Warner worked for LPL Financial LLC as well. Namely, a client of LPL Financial disputed Warner’s sales practices. Supposedly, Warner made an unauthorized purchase of CIT bonds, causing the client to experience damages. For this reason, LPL Financial paid this client $225,000 to settle.

Employers Disaffiliate With George Warner Amid Misconduct Allegations

Moreover, NFP Advisor Services permitted George Warner to resign because he allegedly corrected documents after a client signed them. And LPL Financial disaffiliated with Warner because he allegedly obtained client signatures on blank account documents.

Other firms that employed George Warner include IFS Securities (2014 to 2017) and Dominion Investor Services (2017).

Did You Suffer Losses Through Warner?

Did George Warner cause you to experience investment losses or other damages? If so, call Soreide Law Group at (888) 760-6552 and speak with a skilled securities lawyer about a potential recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered significant compensation for investors in the US who incurred losses because of their financial advisors and securities brokers. Please note that Warner denies all allegations of his sales practice violations.

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