Cory Ward Taylor, Registered Representative, CRD No. 4397111, was fined $15,000 and suspended for six weeks by FINRA.
According to FINRA's investigation, Cory Taylor purchased Facebook stock on May 18, 2012, the day of the IPO, in 54 accounts for 44 different client groups, some who had multiple accounts. Taylor spoke to 30 of his clients before each trade and they did agree to purchase the Facebook securities. However, Taylor did not call the clients on the day of the trade to reconfirm. Taylor did have written authorization to exercise discretion, however, Ameriprise did not accept these accounts as discretionary which violated NASD Rule 2510 and FINRA Rule 2010.
FINRA states that there were six accounts Taylor did not receive prior authorization from the customers to purchase Facebook stock which amounted to unauthorized trading.
Cory Ward Taylor is currently registered with the following FINRA firm:
AMERIPRISE FINANCIAL SERVICES, INC. (CRD# 6363) Registered with this firm since 7/12/2004
34 PUBLIC SQ, PO BOX 38, NELSONVILLE, OH 45764
Cory Ward Taylor was previously registered with the following FINRA firm:
IDS LIFE INSURANCE COMPANY (CRD# 6321) - MINNEAPOLIS, MN
07/2004 - 07/2006
This ends the summary from FINRA.
If you or a family member sustained investment losses due to your stock broker or financial advisor’s recommendations in Facebook (FB) stock, call Soreide Law Group for a no cost consultation on how to potentially recover your Facebook losses. To speak with an attorney please call 888-760-6552.
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