Christopher Anthony Fernan of Melville New York, a barred stockbroker formerly registered with Salomon Whitney Financial is referenced in a customer initiated investment related written complaint on November 27, 2018 where the customer requested $46,000.00 in damages based upon allegations that false or misleading statements had been made by the stockbroker concerning the risks of options trades executed in the customer’s account while Fernan was associated with SW Financial.
This is the fifteenth disclosable event for Fernan. Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Fernan has been identified in eight more customer initiated investment related disputes pertaining to accusations of his misconduct while employed with Rockwell Global Capital LLC and Salomon Whitney Financial. Specifically, a customer filed an investment related arbitration claim involving Fernan’s conduct in which the customer sought $72,000.00 in damages founded on allegations that Fernan engaged in options trading which was not appropriate for the customer and which led the customer to experience unwarranted losses.
Public Disclosure also shows that Fernan was terminated by Salomon Whitney for borrowing money from customers.
Fernan was barred by FINRA in October 2020.
Fernan is the subject of a customer initiated investment related arbitration claim which was resolved for $20,000.00 in damages supported by accusations that contractual obligations to the customer had been breached; transactions effected by the stockbroker were unsuitable; fiduciary duties owed to the customer were violated; the customer’s account was churned; unauthorized trades were executed in the customer’s account; and the customer was defrauded by following Fernan’s recommendations when he was employed by Salomon Whitney Financial. FINRA Arbitration No. 18-00906 (Apr. 22, 2019).
Another customer initiated investment related arbitration claim concerning Fernan’s activities was settled for $65,000.00 in damages based upon allegations that the customer’s account was handled in a negligent manner; trades placed by the stockbroker were inappropriate for the customer; contractual obligations had not been complied with; deceptive and fraudulent activities induced the customer’s acquiescence to options and equity trades; and a fiduciary duty was breached. FINRA Arbitration No. 18-02182 (May 20, 2019).
FINRA Public Disclosure additionally confirms that Fernan failed to timely comply with FINRA’s request for information about his activities and sought information from Fernan following at least three customer disputes alleging his misconduct.
Three of Ferman’s prior five brokerage firms are defunct or have been expelled by FINRA. Fernan was registered with Salomon Whitney Financial between December 8, 2015 and February 17, 2017.
