WC Stewart Allegedly Made Misrepresentations

WC Stewart (CRD #: 2462780), a broker registered with Coastal Equities, allegedly violated several FINRA rules, according to his BrokerCheck record, accessed on September 2, 2022. Read on if you have questions about WC Stewart’s conduct as a broker.

Investor Dispute

On June 24, 2022, an investor alleged that WC Stewart made unsuitable investment recommendations and material misrepresentations, and violated the requirement for fair dealing. The investor is also claiming a failure to supervise. The client seeks $50,001 in this pending dispute. 

FINRA Rule 2111

FINRA Rule 2111 requires brokers to tailor their investment recommendations to investors’ profiles. An investor’s profile contains information about their investment goals, risk tolerance, and tax status.

This rule also establishes that brokers have an obligation towards fair dealing and ethical sales practices.

Investors who rely on their broker for recommendations may be able to recover their funds through FINRA arbitration.

FINRA Rule 2020

Making misrepresentations violates FINRA Rule 2020, which prohibits the use of manipulative, deceptive, and otherwise fraudulent methods to influence the purchase and sale of securities.

FINRA Rule 3110

Failure to supervise violates FINRA Rule 3110, which requires that firms establish supervisory systems to maintain their compliance with securities regulations. Among other things, firms must take care to appoint supervisors with the necessary training or experience.

Tax Lien

On January 19, 2016, WC Stewart incurred a $254,818.07 tax lien.

Background Information

WC Stewart has passed the following exams:

• Series 63 – Uniform Securities Agent State Law Examination
• SIE – Securities Industry Essentials Examination
• Series 7 – General Securities Representative Examination
• Series 6 – Investment Company Products/Variable Contracts Representative Examination

WC Stewart is a registered broker in Indiana, Kentucky, and Ohio.

He has also worked for the following firms:

• Royal Alliance Associates (CRD#:23131)
• MW Management Company (CRD#:30014)
• R. H. York & Company (CRD#:30099)
• Garco Equity Sales (CRD#:4125)

Kurta Law Can Help

If you worked with WC Stewart and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.