Stewart Ginn (CRD #4503197) Has Regulatory and Customer Dispute Disclosures on FINRA BrokerCheck
Stewart Ginn (CRD #4503197) is currently registered with Independent Financial Group, LLC and has disclosures on FINRA BrokerCheck. We reviewed his BrokerCheck report on March 26, 2026. It reflects one regulatory event and seven customer disputes. If you invested with Stewart Ginn and have concerns, keep reading.
BrokerCheck link: BrokerCheck
BrokerCheck report: BrokerCheck Report (PDF)
Regulatory Actions
Stewart Ginn’s FINRA BrokerCheck Report reflects one regulatory event disclosure. A summary of the disclosure is below:
On October 17, 2023, FINRA filed a complaint alleging Stewart Ginn churned and excessively traded customer accounts. Stewart Ginn’s FINRA BrokerCheck says the trading involved elderly customers, caused more than $2.22 million in realized losses, and generated more than $2.24 million in commissions. BrokerCheck also says the matter included allegations of unsuitable recommendations and discretionary trading without customer authorization in many accounts. The case reached a final resolution on August 29, 2024, through a Decision & Order of Offer of Settlement. Stewart Ginn’s FINRA BrokerCheck states he consented, without admitting or denying the allegations, to an 18-month suspension, a $50,000 fine, and $115,000 in restitution plus interest. Related document: FINRA disciplinary action
Investor Disputes / Customer Complaints
Stewart Ginn’s FINRA BrokerCheck Report reflects seven customer dispute disclosures. Summaries of two disputes are below. Five additional customer dispute disclosures remain on the report:
On December 24, 2025, a customer alleged the accounts were subjected to high management fees, margin charges, and commissions that were not suitable or appropriate and caused losses. The customer sought $213,142 in damages. Stewart Ginn’s FINRA BrokerCheck lists the products as OTC equities, listed equities, and mutual funds, and the matter remains pending in FINRA arbitration. Ginn’s statement says a preliminary investigation did not support the claims and that the firm intends to defend the case.
On December 14, 2023, a customer alleged breach of fiduciary duty, negligence, negligent supervision, breach of contract, churning, excessive trading, fraud and deceit, and unfair business practices. The customer sought $1,618,000 in damages, and the matter later settled for $1,100,000 on September 6, 2024. Stewart Ginn’s FINRA BrokerCheck lists the product as OTC equity. Ginn’s statement says the settlement was not an admission of guilt or liability and was made to avoid prolonged litigation.
Rule Summary #1: FINRA Rule 2111 (Suitability)
FINRA Rule 2111 requires a broker to have a reasonable basis to believe a recommendation is suitable for the customer. That analysis turns on the customer’s profile, including risk tolerance, time horizon, and financial ability.
Rule Summary #2: FINRA Rule 3260 (Discretionary Accounts)
FINRA Rule 3260 governs discretionary accounts. It requires prior written authorization before discretionary trading and firm review of discretionary activity to detect trading that is excessive in size or frequency.
Why This Matters to Investors (Regulation Best Interest)
Regulation Best Interest (Reg BI) is a U.S. securities regulation. It strengthens the standard of conduct that broker-dealers owe to retail investors. It applies when they recommend securities transactions or investment strategies. The U.S. Securities and Exchange Commission adopted Reg BI. It became effective on June 30, 2020. Reg BI aims to protect investors while preserving access to brokerage products and services.
Reg BI requires broker-dealers and financial advisors to act in a retail customer’s best interest at the time of a recommendation. They must not place their own financial or other interests ahead of the customer’s. This standard is higher than the older “suitability” rule. Suitability meant a recommendation only had to be appropriate. It did not have to be the best option or free of conflicts.
Reg BI has four key obligations:
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Disclosure Obligation – Broker-dealers must disclose material facts about the relationship and the recommendation. This includes fees, the scope of services, and conflicts of interest.
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Care Obligation – Broker-dealers must use reasonable diligence, care, and skill. They must consider costs, risks, and alternatives when making a recommendation.
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Conflict of Interest Obligation – Firms must identify conflicts of interest. They must disclose them and mitigate or eliminate them. This includes conflicts that create incentives to favor one product over another.
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Compliance Obligation – Firms must maintain policies and procedures. Those policies should be designed to ensure compliance with Reg BI as a whole.
Reg BI applies to each recommendation. It is not a continuous duty like the fiduciary standard for registered investment advisers. Even so, it narrows the gap. It puts more focus on costs, conflicts, and investor-focused decision-making.
Overall, Regulation Best Interest promotes transparency. It also aims to improve the quality of investment recommendations. It is designed to reinforce trust between retail investors and broker-dealers in the U.S. securities markets.
Background Information (from BrokerCheck)
Based on his FINRA BrokerCheck report, Stewart Ginn:
Is currently registered with Independent Financial Group, LLC.
Has passed the Securities Industry Essentials (SIE), Series 7TO, Series 7, and Series 63 exams.
Was previously registered with firms that include Navian Capital Securities LLC, Newbridge Securities Corporation, and Chicago Investment Group, LLC.
Kurta Law Can Help
If you have worked with Stewart Ginn and have concerns about his activity, Kurta Law may be able to help you evaluate your legal options. To speak with Kurta Law, call 877-600-0098 or email info@kurtalawfirm.com.
Helpful resources: Churning / Excessive Trading | Securities Attorney
For nearly 20 years, Kurta Law has advocated for investors and helped hold financial professionals accountable. The firm represents clients nationwide in securities arbitration and related disputes. If you believe a broker or firm mishandled your account, an attorney can review the facts and explain possible next steps.