March 16, 2018 Comments (0) Blog, Current Investigations

New York Advisor Stephen J. Woods Barred from Securities Industry

Stephen J. Woods
(Last Updated On: March 16, 2018)

Stephen J. Woods – Securities Investigation

The White Law Group is investigating potential claims involving New York broker Stephen J. Woods and the liability his employers may have for failure to properly supervise him.

According to the Financial Industry Regulatory Authority (FINRA), the regulator has barred Stephen J. Woods (CRD #4390407) from the securities industry. During an ongoing investigation regarding Woods’ trading activity in customer accounts, FINRA staff sent a request to Woods, requesting that he provide certain documents and information, and Woods failed to do so.

Woods reportedly acknowledges through counsel that he received FINRA’s request and will not produce the documents or information requested at any time. Therefore, FINRA has barred him from the securities industry.

According to his FINRA BrokerCheck Report, Woods was registered with 17 different firms during his 13 years working in the securities industry. Most recently he was affiliated with PHX Financial in Hauppauge, NY. He has five disclosures listed on his BrokerReport including a suspension and fine in 2009, two tax liens, and one customer complaint.

For FINRA’s full finding see FINRA case NO. 2017052732401.

Failure to Supervise

Brokerage firms are required to properly supervise all advisors they employ and to ensure that those advisors are complying with applicable FINRA rules and regulations. If it can be demonstrated that Woods’ former employer failed to properly supervise him, his employer may be held responsible for the losses in a FINRA arbitration claim.

If you have questions about investments you made with Stephen J. Woods, the securities attorneys of The White Law Group may be able to help you.  To speak with a securities attorney, please call 888-637-5510.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Vero Beach, Florida.

For more information on The White Law Group, and its representation of investors, please visit our website at http://www.whitesecuritieslaw.com.

 

 

 

 

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