Gordon Wallace Suspended by FINRA
Gordon Wallace (CRD #: 1905279), a broker registered with RBC Capital Markets, was recently suspended by FINRA, according to his BrokerCheck record, accessed on May 18, 2023. Read on if you have questions about his alleged conduct as a broker.
FINRA Suspension
On April 11, 2023, Gordon Wallace consented to the entry of findings that he allegedly removed nonpublic personal client information from Merrill Lynch, Pierce, Fenner & Smith without clients’ consent.
A Letter of Acceptance, Waiver & Consent (AWC) alleges that Gordon Wallance removed this information in May 2021, in anticipation of joining another firm.
He allegedly took photographs of approximately 35 clients’ account information in the firm’s electronic systems and directed junior members of his brokerage team to do the same for at least 100 clients. This information allegedly included client names, dates of birth, account numbers, and social security numbers.
Gordon Wallace and members of his brokerage team allegedly retained this information after resigning from the firm.
The AWC concludes that these allegations constitute violations of FINRA Rule 2010.
FINRA Rule 2010
FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade.
Sanctions
Gordon Wallace consented to the following sanctions:
- $5,000 fine
- 10-business day suspension
His suspension ran from May 1 to May 12, 2023.
You can read a copy of the AWC here.
Background Information
Gordon Wallace 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
- Series 6 – Investment Company Products/Variable Contracts Representative Examination
Gordon Wallace is a registered broker in 23 states and the District of Columbia. He is also a registered investment adviser in Maryland and Texas.
He has also worked for Merrill Lynch, Pierce, Fenner & Smith (CRD#:7691) and AMEV Investors (CRD#:421).
Kurta Law Can Help
If you worked with Gordon Wallace and you have concerns about your investments, please contact us today at 877-600-0098 or info@kurtalawfirm.com for a free consultation.
For over 20 years, Kurta Law has advocated on behalf of investors who want 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.
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