Whittaker agreed to a six-month suspension and $5K fine in connection with the allegations.
The Sonn Law Group is investigating allegations that Stephen Whittaker engaged in outside business activities. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.
Stephen Leroy Whittaker (CRD#: 831764) consented to sanctions in the form of a six-month suspension and a $5,000 fine from FINRA and to the entry of findings that he engaged in an outside business activity without providing written notice to his member firm.
FINRA’s findings stated that Whittaker engaged in business activities outside the scope of his relationship with the firm when he accepted compensation for tax preparation services from three firm clients. Additionally, Whittaker did not disclose the activity as an outside business activity on his annual compliance attestation to the firm. Whittaker’s three month suspension begins on October 19, 2020.
Whittaker has five other disclosures on his BrokerCheck report.
April 2019 Employment Separation After Allegations
- Firm Name: First Financial Equity Corporation
- Termination Type: Discharged
- Allegations: Undisclosed outside business activities- tax planning including for client’s of the firm.
April 2019 Customer Dispute
- Status: Settled
- Allegations: Unauthorized trades and suitability
- Damage Amount Requested: $35,000.00
- Settlement Amount: $40,110.00
April 2015 Financial Judgment
- Status: Final
- Type: Bankruptcy
- Disposition: Discharged
February 2013 Customer Dispute
- Status: Closed-No Action
- Allegations: [Customer] alleges she was not told of potential tax liability when liquidating an annuity and not redepositing within 60 days.
- Damage Amount Requested: $10,500.00
- Broker Comment: Mr. Whittaker strongly denies any wrongdoing in this matter.
May 2012 Employment Separation After Allegations
- Firm Name: Morgan Stanley Smith Barney, LLC
- Termination Type: Voluntary Resignation
- Allegations: Allegations that financial advisor communicated with third parties regarding two clients’ MSSB accounts without proper written authorization, and allegations of financial advisor’s potential involvement in unapproved outside business activities.
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The Sonn Law Group is currently investigating allegations that Stephen Whittaker engaged in outside business activities. 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.
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