FINRA Bars Broker Sherwin Sergeant after Allegations of Misconduct
According to public records on November 5th, 2024, The Financial Industry Regulatory Authority (FINRA) has reportedly barred financial advisor Sherwin Sergeant (CRD#: 5096798) from working in the securities industry.
Sargeant reportedly refused to appear for on-the-record testimony requested by FINRA “in connection with its investigation into his involvement with undisclosed OBAs, including those potentially relating to crypto assets.”
Outside Business Activities
FINRA rule 3270 requires that registered representatives disclose any Outside Business Activities (OBAs) that they engage in.The rule is designed to protect investors by ensuring that registered individuals do not engage in activities that may compromise their professional responsibilities, cause conflicts of interest, or divert their attention from their primary duties to their clients.
FINRA BrokerCheck – Sherwin Sargeant
The FINRA BrokerCheck tool is a free online tool that allows investors to research and verify the background and credentials of financial brokers, brokerage firms, and investment advisors registered with FINRA. According to his broker report, Sherwin Sargeant was registered with the following firms among others.
12/18/2019 – 07/14/2023 PLANMEMBER SECURITIES CORPORATION (CRD#:11869) Orlando, FL
01/05/2015 – 09/11/2019 GWN SECURITIES INC. (CRD#:128929) ALTAMONTE SPRINGS, FL
02/01/2012 – 12/31/2014 PLANMEMBER SECURITIES CORPORATION (CRD#:11869) WINTER PARK, FL
Regulation Best Interest
Under the “Regulation Best Interest” standard, broker-dealers are required to conduct thorough due diligence before recommending investments. If a financial advisor fails to meet this obligation before making a recommendation, they may be held accountable for any resulting investment losses.
If you have suffered investment losses due to an unsuitable investment recommendation, the securities attorneys at The White Law Group may be able to assist. You could potentially recover your losses by filing a FINRA arbitration claim against the brokerage firm responsible for selling the investment.
Free Consultation with National Securities Attorneys
If you have suffered investment losses with Sherwin Sargeant and Planmember Securities Corp., the securities attorneys at the White Law Group may be able to help you. For a free consultation with a securities attorney, please call (888) 637-5510.
About The White Law Group
The White Law Group, LLC is a national law firm in securities fraud, securities arbitration, investor protection, and securities regulation and compliance. With offices in Chicago, IL and Seattle, WA, the firm is dedicated to assisting investors across all 50 states with claims against their brokerage firms. Since its founding in 2010, The White Law Group has handled over 800 FINRA arbitration cases.
With more than 35 years of experience in securities law, The White Law Group has the knowledge and expertise to help investors recover losses resulting from securities fraud.
Last modified: November 27, 2024
