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Cody Wilson Suspended by FINRA After Allegedly Engaging in an Outside Business Activity

Mar 7, 2022 FINRA Suspension

Cody Wilson (CRD #: 4474329), a broker registered with Piper Sandler & Co., is the subject of a FINRA suspension, according to his BrokerCheck record, accessed on February 19, 2022.

The suspension stems from allegations that Cody Wilson engaged in an outside business activity without prior notice to his member firm.

Undisclosed Outside Business Activities

Cody Wilson allegedly served as the executive director of a non-profit organization formed to acquire and lease low-income housing properties.  He allegedly failed to notify Stifel, Nicolaus & Company, Incorporated, of his outside business activities involving the non-profit organization. Furthermore, he allegedly made a false statement to the firm in a compliance certification in which he denied engaging in any outside business activities. He allegedly received $8,333 from the organization. 

FINRA Rules 3270 and 2010

FINRA Rule 3270 requires that brokers provide written notice to their firms regarding their outside business activities. A violation of FINRA Rule 3270 also constitutes a violation of FINRA Rule 2010, which requires registered representatives to observe high standards of commercial honor and just and equitable principles of trade. 

Cody Wilson has no business listed in the Outside Business Activity section of his detailed BrokerCheck report—this is where an outside business that a broker discloses to their firm would appear.

If Cody Wilson solicited you for investments in an outside business, contact Kurta Law right away. 

FINRA Suspension and Fine

As part of the terms of the AWC, Cody Wilson consented to a: 

  1. A one-month suspension from associating with any FINRA member in all capacities
  2. A $5,000 fine

You can read a copy of the AWC here.

Employment Termination Details

On February 7, 2020, Stifel, Nicolaus & Company, Incorporated fired Cody Wilson after allegedly failing to disclose an outside business activity.

Background Information

Cody Wilson has passed the following exams: 

  • Series 63 - Uniform Securities Agent State Law Examination
  • Series 66 - Uniform Combined State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 50 - Municipal Advisor Representative Qualification Exam
  • Series 7 - General Securities Representative Examination

He is a registered broker in Georgia.

Besides Piper Sandler & Co. and Stifel, Nicolaus & Company, Incorporated, Cody Wilson has also worked with the following firms:

  • Merchant Capital (CRD#:5680)
  • G. Edwards & Sons (CRD#:4)
  • Amsouth Investment Services (CRD#:15692)

Kurta Law Can Help

If you have worked with Cody Wilson and have concerns about your investments, don't hesitate to contact us today at 877-600-0098 or 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 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.