Former Wynston Hill Capital, LLC broker Christopher Nelson (CRD# 6674139) was suspended by FINRA and faces a customer complaint for suitability and overconcentration. Christopher Nelson has been registered Wynston Hill Capital, LLC in Brandon, South Dakota from November 2018 to June 2019. Previously, Nelson was registered with Newbridge Securities Corporation in New York, New York from February 2017 to August 2018.
In April 2021, FINRA sanctioned Christopher Nelson to pay a $5,000 civil and administrative penalty and fine and suspended him for four months after he, “consented to the sanctions and to the entry of findings that he falsified his member firm’s records and caused it to maintain inaccurate books and records by entering hundreds of orders for securities transactions using his name and representative code in customer accounts when, in fact, he was not the representative who was responsible for the accounts or who recommended the transactions. The findings stated that as Nelson knew, two other registered representatives of the firm were responsible for those accounts, spoke with the customers and recommended the securities transactions in question. The representatives had not obtained the relevant state securities registrations in the states where the customers resided. Nelson entered the orders for the securities transactions recommended by the representatives under his name and representative code in order to conceal the fact that the representatives were conducting securities business on behalf of a customer residing in a state where they were not registered. Nelson and the representatives shared commissions earned from the transactions recommended in the accounts in question.”
Christopher Nelson Faces Complaint for Overconcentration and Suitability Concerns
Christopher Nelson has been the subject of one customer complaint, according to his CRD report:
August 2019. “During the 6 month period beginning January 2019, Claimant alleges unsuitable trading, wrongful over-concentration, unauthorized trading and fraud, and failure to supervise.” The customer is seeking $314,852 in damages and the case is currently pending. The complaint was regarding common and preferred stocks and options and took place while Christopher Nelson was registered with Wynston Hill Capital, LLC.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Wynston Hill Capital, LLC may be liable for investment or other losses suffered by Christopher Nelson’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.
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Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form below for a free consultation.
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