Marc Winters Barred As Broker By FINRA

Wedbush Securities Broker Marc Winters Barred By FINRA For Not Responding To Regulator's Request

Soreide Law Group has important information to share with you regarding securities broker Marc Winters (CRD#: 4053113, Los Angeles, California). Notably, Financial Industry Regulatory Authority (“FINRA”) barred Winters, who worked as a securities broker for Wedbush Securities from 2004 to 2020. Not only that, but three additional regulatory incidents are on Winters’s record. Moreover, two securities firms disaffiliated with him for alleged misconduct, and an investor disputed his investment recommendations. Here’s more.

FINRA Bars Marc Winters Following Wedbush Securities Discharge

Evidently, FINRA, who is responsible for overseeing nearly all securities brokers in the United States, has expelled Marc Winters as a securities broker as it relates to his involvement with FINRA firms. The bar went into effect on June 23, 2020 following Winters’s failure to cooperate with a Request for Information. Sometimes FINRA reaches out to securities brokers for information to assess whether they did something wrong such as violating FINRA rules. When the securities broker is unresponsive, FINRA can and often does pursue disciplinary action against that securities broker. In this case, Winters did not respond to FINRA’s requests and so he received FINRA’s bar as a sanction.
By reviewing Marc Winters’s BrokerCheck record, we can see that Wedbush Securities disaffiliated with him in December 2019. Supposedly, this is because Winters allegedly made discretionary trades in his client’s accounts. It appears that Winters potentially traded without the appropriate authorizations on file. Allegedly, clients had not authorized in writing that Winters could trade without first getting their permission for each trade. In addition, Wedbush Securities claimed that Winters did not comply with an internal review. This all happened around the time that FINRA looked into Winters and probed him for information.

Past Regulatory Actions About Winters

Evidently, SEC issued Marc Winters more than $31,000 in fines to resolve allegations of his violation of federal securities laws on insider trading. Previously, an Illinois regulator sanctioned Winters as securities broker, placing him on heightened supervision. And NASD (who is now known as FINRA) sanctioned Winters for making false entries about his clients.

UBS Client Dispute Alleges Unsuitable Recommendations By Marc Winters

In addition, BrokerCheck shows that a client filed a dispute about Marc Winters’s sales practices. Specifically, the client of UBS PaineWebber alleged in a dispute that Winters made unsuitable recommendations. It appears that Winters recommended equity trades when this did not match with the client’s risk tolerance. However, UBS PaineWebber denied this dispute.

Did You Sustain Damages By Investing Through Winters?

Did securities broker Marc Winters cause you to experience losses? If so, call Soreide Law Group at (888) 760-6552 and speak with a securities lawyer about possibly recovering your losses. Soreide Law Group represents investors on a contingency fee basis and advances all costs. The firm has recovered millions for investors who have incurred losses because of their financial advisors and securities brokers. Please keep in mind that Winters denies all allegations of his sales practice violations.

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