FINRA suspended securities broker Muhammad Rehmatullah Wahdy [CRD: 6266210, San Francisco, California], according to disclosures on FINRA BrokerCheck. Evidently, Wahdy worked for Merrill Lynch from December 20, 2022, to June 7, 2023. Keep reading to learn more about Wahdy’s regulatory disclosures and client-related matters.
FINRA Sanctioned Wahdy For Outside Business Activities
Evidently, on April 11, 2025, FINRA issued Case: 2023078977001 sanctioning Muhammad Wahdy for violations of industry rules. Wahdy consented to a settlement that imposed a $10,000 fine and a 15-month suspension from associating with any FINRA member firm. FINRA alleged that Wahdy participated in private securities transactions without approval, engaged in undisclosed outside business activities, and maintained brokerage accounts that were not reported to his employers.
From 2019 through 2023, Wahdy operated an investment advisory firm where he acted as owner and CEO, providing investment advice to 15–30 investors and earning roughly $148,000 in advisory fees. Despite requests from Ameriprise and Wells Fargo to cease the outside activity, he continued the business and submitted compliance forms inaccurately denying such work. In 2021, while at Wells Fargo, Wahdy solicited $250,000 from an investor for a pooled investment fund he managed without disclosing it to the firm. He also opened and maintained brokerage accounts at another firm without consent from Ameriprise, Merrill Lynch, or Wells Fargo, while falsely certifying that all accounts had been disclosed. FINRA determined that these actions violated its rules, leading to the suspension and monetary penalty.
Muhammad Wahdy Terminated For Failure To Disclose Outside Business Activity
Evidently, Merrill Lynch disaffiliated with Wahdy on May 8, 2023. Allegedly, Wahdy failed to disclose an outside business activity. This activity potentially relates to the FINRA disciplinary action against the broker.
Have You Made Investments Through Securities Broker Wahdy?
Did you experience losses because of Muhammad Wahdy? If so, contact Soreide Law Group at (888) 760-6552 or online and consult with a securities attorney regarding recovering your investment losses. Soreide Law Group helps to recover losses for investors throughout the United States. The firm also takes cases on a contingency fee basis and advances all costs. Wahdy and brokerage firms Wahdy worked for deny accusations of sales practice violations.
