Stephen Russell Stanford (also known as Steve Stanford), of San Francisco, California, a stockbroker registered with Portsmouth Financial Services, was the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim that was settled for $25,000.00 in damages based upon allegations that Stanford made unsuitable recommendations, misled the customer, and failed to conduct due diligence in connection with the sale of stocks and GWG L bonds when Stanford was associated with Portsmouth Financial Services. FINRA Arbitration No. 23-03410 (April 16, 2024).
customer, and failed to conduct due diligence in connection with the sale of stocks and GWG Class L bonds when Stanford was associated with Portsmouth Financial Services. FINRA Arbitration No. 23-03410 (April 16, 2024).
This is not the first time that Stanford has been referenced in a customer initiated investment related dispute concerning Stanford’s conduct in the securities industry. FINRA Public Disclosure shows that Stanford was also referenced in a customer initiated investment related complaint that was settled on October 31, 2000, for $225,000.00 in damages based upon allegations that Stanford engaged in unauthorized trading in the customer’s account during the time that Stanford was associated with J.C. Bradford.
Stanford has been associated with Portsmouth Financial Services in San Francisco, California since March 18, 2013.
