Scott Burford Allegedly Executed Unauthorized Trades According to FINRA
Scott Burford (CRD #:1658201), a former registered broker with Hilltop Securities Independent Network, has been charged by FINRA for allegedly making unauthorized trades in a customer’s account, according to his BrokerCheck record, accessed on October 27, 2021. He is also a registered investment adviser with Burford Brothers.
Keep reading for more details regarding the allegations.
According to a FINRA complaint filed on September 22, 2021, Scott Burford allegedly made unauthorized trades in a customer’s account when he was employed by Hilltop Securities. The complaint states that while Scott Burford was registered with Hilltop Securities, he allegedly did not inform his member firm about the death of a customer. These allegations would constitute a violation of FINRA Rule 2010.
FINRA also alleges, between October of 2016 and January of 2019, Scott Burford acted on instructions to make trades in the customer’s account. The instructions came from his deceased client’s widow. Scott Burford reportedly executed nine securities transactions involving $129,972.03 in principle without authorization. Scott Burford also initiated $84,669.87 in unauthorized automated clearing house (ACH) disbursements. According to FINRA, his firm policies required that he treat the account as frozen until legal matters involving the account were determined.
You can read the full complaint here.
FINRA Rule 2010
Making unauthorized trades in or facilitating unauthorized withdrawals from a customer’s account is a breach of the duty to observe high standards of commercial honor and just and equitable principles of trade and, thus, a violation of FINRA Rule 2010.
On November 1, 2019, Hilltop Securities Independent Network fired Scott Burford following allegations that he failed to follow firm policy regarding the death of a client.
Scott Burford Background Information
Scott Burford 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 4 – Registered Options Principal Examination
- Series 27 – Financial and Operations Principal Examination
- Series 53 – Municipal Securities Principal Examination
- Series 24 – General Securities Principal Examination
He has worked in the following firms.
- Hilltop Securities Independent Network (CRD#:17587)
- Burford, Perry & Co. (CRD#:35798
- Burford Brothers (CRD#:23512)
Kurta Law Can Help
If you have worked with Scott Burford and have concerns about your investments, don’t hesitate to contact us today at 877-600-0098 or firstname.lastname@example.org 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. Please contact us today if you would like us to evaluate your potential case.