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Arlis Steel Involved in Million-Dollar Investor Dispute

Aug 27, 2021 Investor Disputes

Arlis Steel (CRD #: 6444804), a broker registered with Edward Jones, is involved in an investor dispute, according to his BrokerCheck record, accessed on August 17, 2021. Details are provided below.

On June 17, 2021, a representative of a deceased investor alleged that the investor’s daughter fraudulently obtained authority over the securities account. She allegedly did this by falsifying information regarding the investor’s mental status. The investor’s representative alleges that Arlis Steel knew or should have known about this fraud. FINRA requires that brokers adhere to the “Know Your Customer” rule, which states that brokers should “understand the authority of each person acting on behalf of the customer.” The investor’s representative is seeking $1,000,000; the dispute is pending.

Arlis Steel Background Information

Arlis Steel has passed the following exams:

  • Series 66 Uniform Combined State Law Examination
  • Securities Industry Essentials Examination
  • Series 7 General Securities Representative Examination

He is a registered broker in 18 states and is a registered investment adviser in Texas.

Arlis Steel has only registered with Edward Jones (CRD #: 250).

Kurta Law Can Help

If you worked with Arlis Steel and you have concerns about your investments, contact Kurta Law today. Call 877-600-0098 or email jkurta@kurtalawfirm.com.