Charles Jerry Lewis Jr (CRD #2495723) Was Disciplined by FINRA
Charles Jerry Lewis Jr (CRD #2495723) has been the subject of disclosures reported on FINRA BrokerCheck. Specifically, Charles Jerry Lewis Jr has one regulatory event and one customer dispute disclosure. If you have worked with Charles Jerry Lewis Jr and you have concerns about his activity, keep reading.
BrokerCheck link: Charles Jerry Lewis Jr’s BrokerCheck profile
BrokerCheck report: BrokerCheck report (PDF)
Regulatory action (FINRA)
According to Charles Lewis’s FINRA BrokerCheck disclosure summary, FINRA initiated a regulatory action on December 2, 2025 (Case No. 2022075722901) while Charles Lewis was registered with Wells Fargo Clearing Services LLC. Without admitting or denying the findings, Charles Lewis consented to the entry of findings that he obtained reimbursement from his member firm’s business-expense programs for fictitious expenses he had not incurred. FINRA’s findings state that, at or near year-end reimbursement deadlines over three years, Charles Lewis submitted hundreds of claims below the firm’s receipt threshold and received reimbursement for at least $657 of expenses he had not incurred.
AWC link: AWC letter (PDF)
Charles Lewis’s FINRA BrokerCheck report reflects that the matter resulted in a $10,000 fine and a one-month suspension in all capacities, from January 5, 2026 through February 4, 2026.
Rule summary #1: FINRA Rule 2010
FINRA Rule 2010 is a broad, principles-based rule requiring broker-dealers and associated persons to observe high standards of commercial honor and just and equitable principles of trade. In practice, FINRA often charges Rule 2010 when conduct involves dishonest, unethical, or improper behavior—including submitting false information to obtain money or benefits from a firm.
Rule summary #2: FINRA Rule 4511
FINRA Rule 4511 requires firms to make and preserve books and records as required under FINRA rules and the Securities Exchange Act and related SEC rules. Although this rule is directed to member firms, accuracy in expense reporting and other business records is a core compliance expectation—and recordkeeping failures can be central to investigations involving false or fictitious claims.
Investor disputes / customer complaints
Charles Lewis’s FINRA BrokerCheck report reflects one customer dispute disclosure. Below is the dispute summary:
Example 1 (Settled): Charles Lewis FINRA BrokerCheck report reflects a customer dispute received on March 20, 2006. The customer alleged that, on or before 2000, Charles Lewis placed trust funds in unsuitable investments and recommended margin trading without explaining the risks involved. BrokerCheck indicates the matter evolved into civil litigation in Harris County District Court (Harris County, Texas), Cause No. 2006-51424. The dispute was reported as settled, with a monetary settlement amount of $500,000, and a disposition date of September 23, 2010.
Why this matters to investors (Regulation Best Interest)
Regulation Best Interest (Reg BI) is a U.S. securities regulation designed to strengthen the standard of conduct that broker-dealers owe to retail investors when making recommendations about securities transactions or investment strategies. Adopted by the U.S. Securities and Exchange Commission and effective as of June 30, 2020, Reg BI aims to enhance investor protection while preserving investor access to brokerage products and services.
Regulation Best Interest (Reg BI) requires broker-dealers and financial advisors to act in the best interest of the retail customer at the time a recommendation is made, and not to place their own financial or other interests ahead of the customer’s. This represents a higher standard than the historical “suitability” requirement, which only required that recommendations be suitable, not necessarily optimal or conflict-free.
Reg BI is built around four key obligations:
- Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and recommendations, including fees, scope of services, and conflicts of interest.
- Care Obligation – Recommendations must be made with reasonable diligence, care, and skill, considering costs, risks, and alternatives.
- Conflict of Interest Obligation – Firms must identify, disclose, and mitigate or eliminate conflicts, particularly those that create incentives to favor one product over another.
- Compliance Obligation – Firms must establish policies and procedures designed to ensure compliance with Reg BI as a whole.
Importantly, Reg BI applies at the recommendation level, not as a continuous duty like the fiduciary standard applicable to registered investment advisers. Still, it significantly narrows the gap by emphasizing cost considerations, conflict management, and investor-focused decision-making.
Overall, Regulation Best Interest seeks to promote transparency, improve the quality of investment recommendations, and reinforce trust between retail investors and broker-dealers in the U.S. securities markets.
Background information (from BrokerCheck)
Based on his BrokerCheck Report, Charles Lewis reportedly:
- Is currently registered with Wells Fargo Advisors and Wells Fargo Clearing Services, LLC in Waco, Texas.
- Has passed the Securities Industry Essentials (SIE), Series 7, Series 65, and Series 63 exams.
- Has an inactive or suspended registration with at least one regulator, including a FINRA suspension beginning January 5, 2026.
- Was previously registered with Wells Fargo Investments, LLC and Wells Fargo Brokerage Services, L.L.C.
Kurta Law Can Help
If you have worked with Charles Lewis and you have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. Contact Kurta Law at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
Helpful resources: FINRA Rule 4511 explained (Kurta Law) | Unsuitable investments overview (Kurta Law)
For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable—because investors deserve transparency, honesty, and compliance with industry rules. If you believe you may have been harmed by broker misconduct, a securities attorney can help you assess whether a FINRA arbitration or other legal claim may be appropriate. Do not let potential securities fraud go unchecked. Start your recovery process today.