Stephen Gregory Whitman (also known as Steve Whitman) of Chesterfield, Missouri, a stockbroker formerly registered with Oppenheimer Co. Inc., has been charged by Financial Industry Regulatory Authority (FINRA) Department of Enforcement with failing to provide information to FINRA when it investigated him for a customer complaint. Department of Enforcement v. Stephen G. Whitman, Disciplinary Proceeding No. 2021071227301 (March 8, 2022).
According to the Complaint, the regulator launched an investigation into Whitman on April 28, 2021, to determine whether he took money from a customer in the form of a loan while he was employed by Oppenheimer. FINRA investigated Whitman when Oppenheimer indicated the reason for its termination of the securities broker dealer. FINRA Public Disclosure shows that Whitman was the subject of a customer complaint about Whitman allegedly taking money from the customer relating to a private investment. The customer alleged that they were only repaid a small amount of their funds.
Whitman allegedly failed to respond to FINRA’s request for information and documents relating to the investigation. After making multiple requests, FINRA brought a complaint against Whitman, which alleged that he violated FINRA Rules 2010 and 8210 by failing to comply with the investigation.
FINRA Public Disclosure shows that Whitman is referenced in a customer initiated investment related written complaint where the customer sought $5,000.00 in damages supported by allegations that Whitman caused the customer to get a second mortgage to invest funds and to sell their life insurance and Walmart holdings, causing the customer to experience damages.