SEAN J FIELDS Suspended and Fined by FINRA

SEAN J FIELDS (SEAN JEFFEREY FIELDS), previously registered as a broker and investment advisor with PFS INVESTMENTS INC of Concord, California was suspended by FINRA for 6 months with a start date of 3/18/2024 and an end date of 9/17/2024, and fined $5,000.00. 

Without admitting or denying FINRA’s findings, SEAN J FIELDS consented to the sanctions and to the entry of findings that he allegedly borrowed money from clients without providing notice to or receiving approval from his member firm.

FIRNA’s findings stated that SEAN J FIELDS allegedly received loans totaling $55,000 from two firm clients. Allegedly, one client's loan was not documented in any way, and Fields orally agreed to repay the loan with 12 percent interest. Fields is currently repaying the loan according to the terms of the oral agreement. The FINRA report alleges the second client's loan was not initially documented in any way and the loan has not been repaid.

FINRA’s findings also alleged that Fields settled a customer complaint without his firm's knowledge or approval. The FINRA report states that the second client verbally complained to Fields about his failure to repay her loan. The client later filed a complaint with SEAN J FIELDS' firm regarding the terms and purpose of the loan she had made with him, but then withdrew the complaint a week later.

According to the FINRA report, SEAN J FIELDS entered into a written settlement agreement with the client agreeing to repay her the principal amount of $15,000, plus $3,000 in interest. Fields allegedly did not inform the firm about the customer's complaint or obtain the firm's approval to settle the complaint.

According to FINRA’s BrokerCheck, available to the public on FINRA’s website, SEAN J FIELDS, has been in the securities industry for 8 years and has been listed with 2 firms.  Fields has two disclosures on his FINRA CRD report.  One of the disclosures listed is the “Regulatory,” fining and suspending Fields.  The other disclosure is an, “Employment Separation after Allegations,” dated 1/9/2024, discharging Fields from PFS INVESTMENTS INC. The allegations listed by FINRA were, “The representative was under internal review based on allegations of borrowing. The representative was terminated after admitting to borrowing from two securities clients.”

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