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Phillip Burnett Subject of FINRA Investigation

Sep 23, 2022 Employment

Phillip Burnett (CRD #: 1573765), a broker formerly registered with Coker & Palmer, is currently under investigation by FINRA, according to his BrokerCheck record, accessed on September 18, 2022. Keep reading if you have questions about his conduct as a broker.

Resignation from Coker & Palmer and FINRA Investigation

On July 1, 2022, Phillip Burnett resigned from Coker & Palmer. Later that day, FINRA launched an investigation into Coker & Palmer’s allegation that he took confidential client information at the time of his resignation or earlier.

FINRA Rule 2010

FINRA Rule 2010 holds brokers to high standards of commercial honor and just and equitable principles of trade. Brokers are not permitted to take confidential information when they resign. 

Background Information

Phillip Burnett 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 3 – National Commodity Futures Examination
  • Series 7 – General Securities Representative Examination
  • Series 8 – General Securities Sales Supervisor Examination (Options Module & General Module)

He previously worked for the following firms:

  • Coker & Palmer (CRD#:29163)
  • Banc of America Investment Services (CRD#:16361)
  • UBS Financial Services (CRD#:8174)
  • Lehman Brothers (CRD#:7506)

Kurta Law Can Help

If you worked with Phillip Burnett 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.