Broker Harry Warnick Barred by FINRA After Investigation into Undisclosed Private Securities Transactions

The Financial Industry Regulatory Authority (FINRA) has reportedly barred former broker Harry Harper Warnick (CRD#: 6916323) from associating with any FINRA member firm in all capacities, according to a Letter of Acceptance, Waiver, and Consent (AWC) dated September 15, 2025.

Warnick, who reportedly worked in the securities industry for five years and was previously registered with Spartan Capital Securities, LLC, allegedly consented to the sanction without admitting or denying FINRA’s findings.

FINRA Allegations Against Warnick

According to the AWC, FINRA requested documents and information as part of an investigation into whether Warnick:

• Participated in an undisclosed private securities transaction;

• Engaged in outside business activity (OBA) without disclosure or approval; and

• Maintained an undisclosed securities account.

FINRA states that Warnick failed to provide the requested information, resulting in an automatic bar under FINRA Rule 8210 and 2010.

The bar is reportedly indefinite and permanent, prohibiting him from acting as a broker or associating with a broker-dealer in any capacity.

Termination from Spartan Capital Securities

Warnick was purportedly discharged from Spartan Capital Securities on September 12, 2024, just months before the bar, after the firm alleged that he:

• Conducted outside business with a firm client;

• Participated in a private securities transaction without disclosure;

• Maintained an undisclosed outside securities account;

• Used a personal email address to conceal the activity; and

• Failed to cooperate with the firm’s internal review.

These allegations are consistent with the issues FINRA later investigated.

Harry Warnick’s Employment History

During his short tenure in the industry, Warnick was registered with four different firms:

• Spartan Capital Securities, LLC (2022–2024)

• Benchmark Investments, LLC (2022)

• Houlihan Lokey Capital, Inc. (2021–2022)

• Benchmark Investments, Inc. (2020–2021)

• B. Riley FBR, Inc. (2018–2020)

He currently holds no active FINRA registrations or state licenses.

Broker Due Diligence and Outside Business Activity Risks

FINRA rules require brokers to disclose all outside business activities and private securities transactions to their firms and obtain written approval. These rules are designed to protect investors from:

• Conflicts of interest

• Undisclosed compensation arrangements

• Investment programs not vetted by the broker-dealer

• Potential fraud or misappropriation involving private investments

When brokers solicit investments outside their firm’s supervision—or fail to cooperate with regulators—investors may face heightened risks.

Recovering Investment Losses

If you invested with Harry Harper Warnick or another broker who recommended unsuitable investments, engaged in unauthorized activity, or sold private securities without firm approval, you may be entitled to pursue recovery through FINRA arbitration.

The White Law Group has represented thousands of investors nationwide in claims against broker-dealers for improper supervision, OBA-related misconduct, and private placement losses.

Free Consultation

If you believe you suffered losses due to a broker’s misconduct or a firm’s failure to supervise, call The White Law Group at (888) 637-5510 for a free consultation. You can also visit our website to learn more about FINRA arbitration and options for investment loss recovery.