January 3, 2020 Comments Off on Stephen C. Carver Broker Investigation Blog, Current Investigations, Securities Fraud

Stephen C. Carver Broker Investigation

Stephen C. Carver Broker Investigation, featured by Top Securities fraud Attorneys, The White Law Group

Financial Advisor Stephen C. Carver, Cetera Advisors in Peoria, IL

Are you concerned about investments with Stephen C. Carver in Peoria, IL? If so, the securities attorneys at The White Law Group may be able to help you by filing a FINRA Dispute Resolution claim.

According to the Financial Industry Regulatory Authority (FINRA) on January 2, Stephen C. Carver has reportedly been barred from the securities industry. According to a Letter of Acceptance, Waiver and Consent, Carver allegedly refused to provide information and documents that were requested in connection with an investigation into an investment-related customer complaint.

Last year, Carver was reportedly suspended for seven months and fined $7,500 for purportedly failing to timely disclose three tax liens on his Uniform Application for

Securities Industry Registration or Transfer (“Form U4”) and allegedly falsely attesting that he had made required disclosures on his Form U4. That Default Decision reportedly became final on June 10, 2019.

According to his FINRA BrokerCheck report, Carver was reportedly affiliated with Cetera Advisors in Peoria, IL from 2010 until 2017 when he was purportedly dismissed because he “Violated Firm policy for not disclosing gifts from client.” According to his broker profile, Carver claimed that “The client was my 87 year old uncle and I was a co-signee on his bank acctount in order to pay his bills and manage his expenses. In return he gave me some compensation for doing this for him.”

Carver’s broker report indicates that three customer complaints have reportedly been filed against him.

In May 2019, a client alleges that “between 3/2018 and 11/2018 Rep made high number of trades and earned excessive commissions. She alleges that at end of stated period her account had lost some of its value.” The damage amount requested was reportedly $62,302.00, but settled for $20,000, according to FINRA.

Additionally, Carver reportedly has 3 employment separations and 3 judgment/liens indicated on his broker profile.

Investigating Potential Lawsuits

The White Law Group is investigating potential lawsuits regarding the liability that Carver’s employers may have for failure to properly supervise him.

When brokers violate securities laws, such as making unsuitable investments or excessively trading accounts, the brokerage firm they are working with may be liable for investment losses through FINRA Arbitration. Brokerage firms that fail to monitor the business activities of their employees may be liable for investment losses due to negligent supervision for the misconduct of their employees.

The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Franklin, Tennessee.

We represent investors in FINRA arbitration claims in all 50 states, including Illinois. Our attorneys have recovered millions of dollars from many brokerage firms in the past.

If you are concerned about your investments with Stephen C. Carver, please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.

For more information on The White Law Group, and its representation of investors, please visit www.WhiteSecuritiesLaw.com.

 

 

 

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