Steven Rowe Allegedly Executed Unauthorized Mutual Fund Purchases

Steven Rowe (CRD #: 1732516), a broker registered with Wells Fargo Advisors Financial Network, allegedly executed unauthorized transactions, according to his BrokerCheck record, accessed on June 29, 2023. If you have questions about his alleged conduct as a broker, keep reading.

Investor Dispute

On April 3, 2023, an investor filed a dispute alleging that Steven Rowe executed unauthorized mutual fund purchases and misrepresented the terms of their annuities. This misconduct allegedly occurred between January 31, 2007, and the date of filing.

This dispute was denied by the firm. Investors should know, however, that firms don’t need to allow an external review before denying a dispute. Investors can still seek out FINRA arbitration following a denial and may be able to recover their losses.

FINRA Rule 3260

FINRA Rule 3260 requires brokers to receive written authorization from their clients before engaging in discretionary trading. The firm must also approve the designation of an account as discretionary before this trading can occur.

FINRA Rule 2020

The misrepresentation of information related to investments violates FINRA Rule 2020, which bans the use of manipulation, deception, and other fraudulent tactics to influence the purchase and sale of securities.

Background Information

Steven Rowe 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 31 – Futures Managed Funds Examination
• Series 7 – General Securities Representative Examination
• Series 24 – General Securities Principal Examination

Steven Rowe is a registered broker in 42 states and the District of Columbia. He is also a registered investment adviser in Florida and Texas.

He has also worked for the following firms:

• Wells Fargo Advisors (CRD#:19616)
• A. G. Edwards & Sons (CRD#:4)
• Oppenheimer & Company (CRD#:630)
• Lehman Brothers (CRD#:7506)

Kurta Law Can Help

If you worked with Steven Rowe 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.