Robert Mehlin Terminated by Coastal Equities Following FINRA Suspension
Robert Mehlin (CRD #: 736694) has been fired by Coastal Equities. He also has a FINRA suspension on his record, according to his BrokerCheck record, accessed on September 8, 2022. Concerned investors should keep reading.
On August 4, 2022, Coastal Equities fired Robert Mehlin following allegations that he had not informed his firm of a FINRA suspension. Brokers are required to report any such regulatory actions to their firm.
On August 3, 2022, Robert Mehlin entered into an Acceptance, Waiver, and Consent agreement in which he consented to the findings that he executed unauthorized trades and used an unapproved communication platform to conduct securities business.
- From August 2015 to February 2019, Robert Mehlin allegedly executed 250 unauthorized trades. According to FINRA Rule 3260, firms and investors must approve accounts for discretionary trading. He allegedly specifically told his firm that he had not exercised discretion in any investor firms and improperly asked one of his investors to deny his use of discretion.
- Robert Mehlin also allegedly used an unapproved communication platform to conduct securities business. FINRA Rule 4511 requires brokers to make and preserve books and records. By allegedly using text messages from his private phone number to communicate with his customer, he prevented his firm from maintaining accurate records.
As part of the terms of the AWC, Robert Mehlin has consented to a three-month suspension and a $7,500 fine. You can read a copy of the AWC here.
On February 6, 2019, Wells Fargo Advisors Financial Network terminated Robert Mehlin following allegations that he placed trades without appropriate client authorization.
Robert Mehlin 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 24 General Securities Principal Examination
- Series 53 Municipal Securities Principal Examination
He has worked with the following firms:
- Coastal Equities (CRD #: 23769)
- Wells Fargo Advisors Financial Network (CRD #: 11025)
- Morgan Stanley (CRD #: 149777)
- CitiGroup Global Markets (CRD #: 7059)
- RBC Dain Rauscher (CRD #: 31194)
- Tucker Anthony Incorporated (CRD #: 837)
- Gibraltar Securities (CRD #: 7093)
- Dolan & Pitchers (CRD #: 7657)
Kurta Law Can Help
If you worked with Robert Mehlin and you have concerns about your investments, please contact us today at 877-600-0098 or firstname.lastname@example.org 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 the firm only earns a fee if our securities attorneys recover money on your behalf.