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Stephanie Xiao Barred from FINRA For Allegedly Refusing to Provide Information

Jun 10, 2022 Barred Broker

Stephanie Xiao (CRD #: 7013792) has been barred from FINRA, according to her BrokerCheck record, accessed on June 3, 2022. If you have questions about Stephanie Xiao’s conduct as a broker, read on.

Bar from FINRA

On May 13, 2022, Stephanie Xiao was barred from FINRA after allegedly refusing to respond to a request for documents and information. The request was made as part of an investigation into an allegation that Stephanie Xiao conducted trading in a brokerage account not disclosed to her member firm.

The alleged refusal to respond to requests for information violates FINRA Rules 8210 and 2010.

FINRA Rules 8210 and 2010

FINRA Rule 8210 requires members to provide documents, information, and testimony upon request by FINRA.

Failure to comply with FINRA requests automatically violates FINRA Rule 2010, which requires FINRA members to uphold high standards of commercial honor.

FINRA Rule 3280

FINRA Rule 3280 requires brokers to provide written notice to their firm before engaging in private securities transactions. “Selling away,” or trading securities not offered by a broker’s member firm without proper authorization, violates this rule.

Sanctions

Stephanie Xiao was indefinitely barred from associating with FINRA members in all capacities starting on May 13, 2022.

You can read the full AWC here.

Background Information

Stephanie Xiao has passed the following exams:

  • Series 63 - Uniform Securities Agent State Law Examination
  • SIE - Securities Industry Essentials Examination
  • Series 6 - Investment Company Products/Variable Contracts Representative Examination

She previously worked for PFM Fund Distributors (CRD#:114474).

Kurta Law Can Help

If you worked with Stephanie Xiao 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.