Financial Advisor Stanley Secor, Cetera Advisor Networks, Salt Lake City, NV
FINRA Reportedly bars Stanley Secor after Failure to Provide Information in its Investigation
According to the Financial Industry Regulatory Authority (FINRA), the regulator has reportedly barred financial advisor Stanley Secor (CRD#: 1982414) from associating with any FINRA member at any time after he allegedly failed to provide information in FINRA’s investigation.
FINRA was reportedly investigating the nature and scope of Secor’s relationship with certain customers and his communications to his member firms about those relationships to determine whether he engaged in conduct that violated federal securities laws or regulations or FINRA rules.
According to Secor’s broker profile, the Utah Division of Securities launched an investigation into possible misconduct in October 2019 and found that Secor allegedly “engaged in the following actions: sharing client accounts, undisclosed and unapproved estate roles and trustee appointments, designation as client’s beneficiary without firm approval, violation of former BD’s WSPS and misrepresentation as to source of funds, control and custody of client funds, false statements to the division and dishonest or unethical practices.”
According to his FINRA BrokerCheck report, Secor was registered with Cetera Advisor Networks from 2017 until 2019 when he was reportedly dismissed for violating “the terms of his suspension by interfering with the forwarding of securities-related emails to the representative’s regional director.” Prior to that he was affiliated with Girard Securities for 9 years.
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When brokers abuse client accounts or conduct transactions that violate securities laws, the brokerage firm they are working with may be liable for investment losses. 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.
If you are concerned about investments with Stanley Secor, the securities attorneys of The White Law Group may be able to help you. For a free consultation with a securities attorney, please call 888-637-5510.
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