Steven Eugene Bonner of Campbell California a stockbroker formerly employed by Principal Securities Inc. has been barred from associating with any Financial Industry Regulatory Authority (FINRA) member in any capacity based upon allegations that Bonner neglected to comply with FINRA’s information requests. Case No. 2017052748201 (July 14, 2017).
Evidently, FINRA made attempts at procuring information from Bonner on or after he was discharged by Principal Securities Inc. Specifically, Bonner was employed with Principal Securities Inc. from March 2, 2010 to February 8, 2017 – at which point Principal Securities Inc. discharged Bonner for having been subject of a lawsuit from a customer in regards to Bonner’s sale of private placements.
FINRA Public Disclosure confirms that a customer filed an investment related civil action involving Bonner’s conduct in the Santa Cruz California Superior Court where the customer sought $242,000.00 in damages supported by accusations that Bonner procured $200,000.00 from the customer for a private placement which was supposed to pay the customer ten percent annually but which has not provided the customer any returns since the investment was made. Civil Action No. 16CV03031 (Dec. 2, 2016).
After FINRA received no response from Bonner in regard to its inquiry, FINRA issued Bonner a Notice of Suspension on April 11, 2017 and a Suspension from Association Letter on June 2, 2017. During this time, Bonner was reportedly notified by FINRA that further sanctions would be forthcoming if Bonner failed to request that his suspension be terminated. Bonner reportedly failed to cooperate with FINRA’s requests by the deadline imposed. Consequently, FINRA automatically barred Bonner on July 14, 2017.
