Evan Von Scales (CRD #6957770) Has Regulatory and Termination Disclosures on FINRA BrokerCheck
Evan Von Scales (CRD #6957770) has been the subject of disclosure events, which have recently been reported on his FINRA BrokerCheck report. According to the report accessed on January 20, 2026, Evan Von Scales has been the subject of one regulatory event disclosure and one termination disclosure.
BrokerCheck link: BrokerCheck
BrokerCheck report: BrokerCheck Report (PDF)
Regulatory Actions
Evan Scales’s FINRA BrokerCheck Report reflects one regulatory event. A summary of the disclosure is below:
On November 17, 2025, FINRA reported a final regulatory action (case no. 2024083203501) involving Evan Scales. Without admitting or denying the findings, Evan Scales consented to the sanctions and to the entry of findings that he operated an outside business activity involving marketing and selling an automated trading algorithm for the foreign exchange market without providing to, or receiving approval from, his member firm. The findings stated that Evan Scales created an LLC for this business and promoted the algorithm on various social media platforms. Ultimately, nine individuals purchased the algorithm for $2,000 each, though two customers later requested and were granted refunds. In total, Evan Scales received approximately $13,000 from sales of the algorithm after deducting refunds and transaction fees. Subsequently, Evan Scales ceased operating the business. The matter was resolved through an Acceptance, Waiver & Consent (AWC). FINRA assessed a deferred $5,000 fine and imposed a three-month suspension from November 17, 2025 through February 16, 2026.
Employment Separation After Allegations
Evan Scales’s FINRA BrokerCheck Report reflects one employment separation after allegations. A summary of the disclosure is below:
On August 2, 2024, Fidelity Brokerage Services LLC reported that Evan Scales had a Voluntary Resignation. The report states that Evan Scales voluntarily resigned from Fidelity Brokerage Services LLC on August 2, 2024, after allegations that he engaged in investment-related activities and communications outside the firm without disclosure to or approval by the firm.
Rule summary #1: FINRA Rule 3270 (Outside Business Activities of Registered Persons)
FINRA Rule 3270 (Outside Business Activities of Registered Persons) generally requires registered persons to provide prior written notice to their member firm before engaging in compensated business activity outside the scope of their relationship with the firm. Firms use these notices to evaluate potential conflicts and determine whether to prohibit, limit, or allow the activity.
Rule summary #2: FINRA Rule 2010
FINRA Rule 2010 is a broad, principles-based rule requiring member firms and associated persons to observe high standards of commercial honor and just and equitable principles of trade. It is frequently cited in disciplinary actions involving conduct that undermines investor protection or a firm’s supervisory framework.
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.
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, Evan Scales:
- Is not currently registered as a broker.
- Was previously registered with Fidelity Brokerage Services LLC and TD Ameritrade, Inc.
- Has passed the Securities Industry Essentials (SIE), Series 7, Series 66, and Series 63 exams.
Kurta Law Can Help
If you have worked with Evan Scales 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: Selling Away | Investment Fraud Examples
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