FINRA Bars Worden Capital Management’s CEO after Failure to Provide Information in Investigation
According to the Financial Industry Regulatory Authority (FINRA), the regulator has reportedly barred the CEO of Worden Capital Management (CRD# 148366) on October 14, 2021, after allegations of failure to supervise, negligent supervision and churning, among others.
In September 2021, Worden’s CEO reportedly refused to provide the documents and information requested resulting in the bar. This matter purportedly originated from an investigation into private placement offering of “pre-IPO” securities sold through Worden Capital Management from 2019 through 2020, according to FINRA.
The executive was reportedly suspended on December 31, 2020, after FINRA found that he and Worden Capital Management failed to establish, maintain, and enforce a supervisory system reasonably designed to achieve compliance with FINRA’s suitability rule as it pertains to excessive trading. Further he and the firm also reportedly consented to findings that they violated FINRA Rules by interfering with customer requests to transfer accounts from Worden Capital Management to another member firm.
According to his FINRA BrokerCheck report, Worden’s CEO reportedly has 15 customer complaints filed against him since 2018.
Recovery of Investment Losses
The White Law Group is investigating potential securities fraud claims regarding the liability that Worden Capital Management may have for failure to properly supervise its representatives.
When brokers violate securities laws, such as making unauthorized transactions or excessive trades, 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 Seattle, Washington. We represent investors in FINRA arbitration claims in all 50 states including New York. Our attorneys have recovered millions of dollars from many brokerage firms in the past.
For more information on the firm’s investigation, please see:
If you are concerned about your investments with Worden Capital Management, 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.
Tags: FINRA arbitration, securities fraud attorney, Worden Capital Management complaints, Worden Capital Management investigation, Worden Capital Management lawsuit, Worden Capital Management financial advisor, Worden Capital Management FINRA, Worden Capital Management NY NY, Worden CEO Barred, Worden Capital Management failure to supervise Last modified: October 15, 2021