Christopher McCoy Subject of a FINRA Suspension
Christopher McCoy (CRD #: 4113108) has been suspended by FINRA. This disclosure appears on his BrokerCheck record, accessed on May 31, 2024. Details concerning the suspension are provided below.
Regulatory Action
On April 16, 2024, Christopher McCoy consented to the sanctions and to the entry of findings that he exercised discretion in customer accounts, some of which belonged to seniors. He allegedly did not have prior written authorization from the customers, or permission from his member firm.
As part of the terms of the Acceptance, Waiver, and Consent agreement (AWC), Christopher McCoy consented to a $5,000 fine and a one-month suspension.
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Open in new tab You can read a copy of the AWC here.
Unauthorized Trading
FINRA Rule 3260 limits discretionary trading by brokers to pre-approved discretionary accounts. These accounts must be approved for discretionary trading by both the client and the firm. Discretionary trading that takes place in an account that has not been approved is unauthorized.
Investor Allegations
On November 23, 2020, an investor alleged that Christopher McCoy recommended unsuitable investments, engaged in negligence, and violated state and securities laws. The dispute was settled for $54,000.
Background Information
Christopher McCoy has passed the following exams:
- Series 65 Uniform Investment Adviser Law Examination
- Series 63 Uniform Securities Agent State Law Examination
- SIE – Securities Industry Essentials Examination
- Series 7 General Securities Representative Examination
During his 22 years of experience, he has registered with three firms:
- Calton & Associates (CRD #: 20999)
- Financial Network Investment Corporation (CRD #: 13572)
- First Republic Group (CRD #: 39781)
Kurta Law Can Help
If you have worked with Christopher McCoy and have concerns about your investments, do not hesitate to contact us at 877-600-0098 or email info@kurtalawfirm.com for a free consultation.
For nearly 20 years, Kurta Law has advocated for investors to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm that 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. Do not let securities fraud go unchecked. Start your recovery process today.
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