George Marshall Warner, Formerly of Chelsea Financial Services, Barred by FINRA For Failing to Produce Information

Warner is also facing a pending customer dispute alleging he engaged in selling away.

George Marshall Warner (CRD#: 2300570) was registered as a broker with Chelsea Financial Services from 2017 until 2019. Previously, Warner was registered as a broker with Dominion Investor Services and IFS Securities.

Warner has six disclosures on his BrokerCheck report. 

March 2021 Regulatory Judgment

• Status: Final
• Initiated By: FINRA
• Allegations: Without admitting or denying the findings, Warner consented to the sanction and to the entry of findings that he failed to produce information or documents requested by FINRA in connection with an investigation into his potential participation in undisclosed private securities transactions.
• Resolution: Acceptance, Waiver & Consent (AWC)
• Sanctions: Bar
• Registration Capacities Affected: All Capacities
• Duration: Indefinite
• Start Date: 3/9/2021

June 2020 Customer Dispute

• Status: Pending
• Allegations: Selling away
• Damage Amount Requested: $100,000.00

April 2017 Regulatory Judgment

• Status: Final
• Initiated By: FINRA
• Allegations: Without admitting or denying the findings, Warner consented to the sanctions and to the entry of findings that he altered various customer documents on at least five occasions after the documents had already been signed by the customers. The findings stated that Warner corrected or included the customer’s anticipated liquidity needs, net worth, liquid net worth, and/or annual income on new account forms, alternative investment disclosure forms, and an IRA application. Warner made these changes as an accommodation, to avoid requiring the customers to re-execute the documents. The findings also stated that by changing new account documentation of the customers, Warner caused his member firm to preserve and maintain altered books and records.
• Resolution: Acceptance, Waiver & Consent (AWC)
• Sanctions: Civil and Administrative Penalty(ies)/Fine(s)
• Amount: $5,000.00
• Sanctions: Suspension
• Registration Capacities Affected: Any Capacities
• Duration: 30 days
• Start Date: 5/1/2017
• End Date: 5/30/2017
• Regulator Statement: Fines paid in full on June 26, 2018.
• Broker Comment: With clients permission, I adjusted signed applications without getting new signatures. I realize this was a mistake. If in the future adjustments are to be made I will insist the client make the adjustments.

November 2014 Employment Separation After Allegations

• Firm Name: NFP Advisor Services
• Termination Type: Permitted to Resign
• Allegations: Rep corrected client documents after client signature.

June 2013 Employment Separation After Allegations

• Firm Name: LPL Financial LLC
• Termination Type: Discharged
• Allegations: Employment terminated by related bank program for obtaining client signatures on blank account transfer forms.

August 2009 Customer Dispute

• Status: Settled
• Allegations: Customer alleges that financial advisor made an error in connection with the purchase of CIT bonds versus CITI Corp. Bonds. Customer retained the investment and now seeks reimbursement for his alleged wrongful loss. The alleged activity period is January 2008 through August 2009.
• Damage Amount Requested: $329,426.00
• Settlement Amount: $225,000.00

Contact Us Today

The Sonn Law Group is currently investigating allegations surrounding George Marshall Warner. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.