Sign of the Financial Industry Regulatory Authority

George Marshall Warner of Staten Island New York a stockbroker formerly registered with Chelsea Financial Services has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon findings that he neglected to cooperate with a FINRA investigation into accusations of him selling away from Chelsea Financial Services. Letter of Acceptance Waiver and Consent No. 2020067463101 (Mar. 9, 2021).

According to the AWC, on December 28, 2020, Warner was asked by FINRA to hand over information and documents so that it could determine if he engaged in private securities transactions. He was required to honor this request according to FINRA Rule 8210. But on February 15, 2021, Warner’s legal counsel made FINRA aware that Warner would not be cooperating. The stockbroker did not provide the regulator with any documents or information in the investigation. FINRA determined that his actions were violative of FINRA Rules 2010 and 8210.

This is not the first time that Warner has been sanctioned by FINRA. He was fined $5,000.00 and suspended from associating with any FINRA member in any capacity supported by findings of him altering customer documents after customers had executed them. Letter of Acceptance Waiver and Consent No. 2014043727001 (Apr. 5, 2017).

Warner has also been identified in two customer initiated investment related disputes regarding allegations of his misconduct. FINRA Public Disclosure confirms that a customer initiated investment related complaint involving Warner’s conduct was resolved for $225,000.00 in damages founded on accusations of an unauthorized purchase of bonds for the customer’s account when Warner was associated with LPL Financial.

On June 30, 2020, another customer filed an investment related arbitration claim concerning Warner’s activities where they sought $100,000.00 in damages based upon allegations that promissory notes had been purchased by them through a private securities transaction that Warner arranged while registered with Chelsea Financial Services. FINRA Arbitration No. 20-01906.

Warner has also been terminated by two securities broker dealers. He was discharged by LPL Financial supported by accusations of him getting customers to sign incomplete account transfer forms. He was terminated from NFP Advisor Services founded on allegations of him altering customer documents.

Warner was registered with Chelsea Financial Services between September 22, 2017 and October 15, 2019.