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Shannon Powers Allegedly Made Misrepresentations, Unsuitable Investment Recommendations

Shannon Powers (CRD #: 2367198), a broker registered with Western International Securities, allegedly made misrepresentations, according to her BrokerCheck record, accessed on November 28, 2022. If you have questions about her conduct as a broker, keep reading.

Investor Dispute

On October 21, 2022, an investor alleged that Shannon Powers made misrepresentations and gave unsuitable investment recommendations. The client seeks $210,000 in damages in this pending dispute.

FINRA Rule 2020

FINRA Rule 2020 prohibits the use of manipulative, deceptive, and otherwise fraudulent means of influencing the purchase and sale of securities. The misrepresentation or omission of material facts related to investments violates this rule.

FINRA Rule 2111

FINRA Rule 2111 requires brokers to take investors’ profiles into account when recommending investments. An investor’s profile describes their tax status, risk tolerance, and other characteristics.

Investors who feel their losses were caused by unsuitable investment recommendations may be able to recover their funds by pursuing FINRA arbitration.

Background Information

Shannon Powers 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

Shannon Powers is a registered broker in six states and a registered investment adviser in Alabama, Arizona, California, Colorado, and Nevada.

She has also worked for the following firms:

  • Wells Fargo Advisors (CRD#:19616)
  • Wells Fargo Investments (CRD#:10582)
  • Wells Fargo Securities (CRD#:17438)
  • Cal Fed Investments (CRD#:19631)
  • Glenfed Brokerage Services (CRD#:13648)

Kurta Law Can Help

If you worked with Shannon Powers and you have concerns about your investments, please contact us today at 877-600-0098 or 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.