Steve Morris of New York New York is a stockbroker formerly registered with Wynston Hill Capital LLC who has been has suspended from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity by consenting to findings that he failed to adequately respond to FINRA staff regarding his compliance with a settlement agreement or arbitration award. Case No. 13-02374 (Jan. 11 2018).
FINRA Public Disclosure reveals that Morris has been referenced in four customer initiated investment related disputes pertaining to allegations of Morris’ improper conduct while employed with Whitaker Securities LLC, Gaines, Berland Inc., and Ladenburg, Thalmann & Co. Inc. Specifically, a customer initiated investment related arbitration claim involving Morris’ conduct was settled for $40,000.00 in damages supported by accusations of suitability, churning, misrepresentation, and the failure to follow the customer’s instructions with regard to over-the-counter equities transactions. National Association of Securities Dealers (NASD) No. 99-00232 (Feb. 8, 2000).
Subsequently, on June 17, 2004, a customer filed an investment related written complaint pertaining to Morris’ conduct, in which the customer sought $900,000.00 in damages founded on allegations that the customer’s over-the-counter equity portfolio had been churned and the customer suffered from poor investment performance. Then, a customer was awarded $600,000.00 in damages according to an investment related arbitration claim wherein Morris was found liable for having breached his contractual duties, negligently handled the customer’s investment account, breached his fiduciary duties, made misrepresentations and omissions to the customer, executed unsuitable transactions in the customer’s account, and committed securities fraud in regard to the customer’s stock transactions. FINRA Arbitration No. 09-00745 (Jan. 8, 2010).
Moreover, a customer initiated investment related arbitration claim in regards to Morris’ activities was resolved for $300,000.00 in damages based upon accusations including breach of fiduciary duty, misrepresentation, excessive equity trading and fraud. FINRA Arbitration No. 11-03437 (Dec. 5, 2012). The customer additionally alleged that Whitaker Securities LLC failed to supervise Morris’ activities in the customer’s account.
Morris’ registration with Wynston Hill Capital, LLC was terminated on January 30, 2018. Since January 6, 1997, Morris has been associated with seven different broker dealers, two of which have been expelled by securities regulators for violation of federal securities laws or are otherwise defunct.
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