FINRA Reportedly Bars Christopher Fernan after Alleged Dismissal from Salomon Whitney
According to a Letter of Acceptance Waiver and Consent on October 19, 2020, The Financial Industry Regulatory Authority (FINRA) has reportedly barred former advisor Christopher Fernan (CRD#: 5896584, Plainview, NY) from association with any FINRA member in all capacities after he refused to appear for on-the-record testimony. FINRA was reportedly requesting information in connection with a customer complaint disclosed by Fernan’s member firm in a Form U5.
The Form U5 is the Uniform Termination Notice for Securities Industry Registration. Broker-dealers, investment advisers, or issuers of securities must use this form to terminate the registration of an individual in the appropriate jurisdictions and/or self- regulatory organizations.
For Finra’s full findings see FINRA Case #2017053314902
According to his FINRA BrokerCheck report, Fernan was reportedly registered with Salomon Whitney Financial in Melville, NY from 2015 until 2017. Prior to that he was affiliated with Rockwell Global Capital. Fernan has 13 disclosure events on his broker report including 7 customer complaints, a suspension, an employment separation, two judgment/liens and 1 criminal event.
Filing a Complaint against your Brokerage Firm
Brokerage firms are required to adequately supervise their advisors. They must ensure they are complying with FINRA rules.
When brokers abuse client accounts and 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.
The brokerage firms can be held responsible for any losses in a FINRA arbitration claim if it is determined that they failed to properly supervise their agent.
If you are concerned about investments with Christopher Fernan and Salomon Whitney Financial, the securities attorneys at The White Law Group may be able to help you. For a free consultation with an attorney, please call (888) 637-5510.
The foregoing information, which is all publicly available, is being provided by The White Law Group.
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. For more information, please visit our website, www.whitesecuritieslaw.com.