Switch to ADA Accessible Theme
Close Menu
Free Consultation: 888-976-6111

Ex-Wells Fargo Broker Charles Bridgers Suspended, Fined $10,000

Former Wilson, North Carolina broker/adviser Charles Bridgers (CRD# 1226108) was recently sanctioned by the Financial Industry Regulatory Authority over allegations he improperly used discretion. Previously registered with Wells Fargo Clearing Services, Bridgers was issued a three-month suspension and a fine of $10,000.

According to a Letter of Acceptance, Waiver and Consent (No. 2018057553801) dated October 2019, Charles Bridgers was associated with Wells Fargo Clearing Services as a General Securities Representative and General Securities Sales Supervisor when, in January 2018, he “entered two municipal-securities transactions in a customer’s brokerage account without the customer’s prior authorization.” FINRA goes on to state that he made notes in the firm customer-management system stating falsely that he had spoken with the customer before he made the transactions. The customer in question was “a longtime customer of Bridgers” and the firm, who died a few days before Bridgers made the trades. At the time of the trades, according to FINRA, Bridgers was unaware of he customer’s death. According to FINRA, he made the false notes in the firm system “in an attempt to circumvent the firm’s internal controls and conceal that the transactions were unauthorized.” FINRA found this conduct to constitute a violation of MSRB Rule G-17, which requires brokers to “deal fairly with all persons” and to avoid “deceptive, dishonest, or unfair practice.” As a result of the foregoing alleged conduct, Bridgers was issued a three month suspension from associating with any FINRA member firm in any capacity. He was also ordered to pay a fine of $10,000.

Charles Bridgers is currently not registered with any FINRA member firm. His previous registrations include Wells Fargo Clearing Services, First Union Capital Markets, and Merrill Lynch. He has passed five securities industry qualifying examinations and currently holds no state securities licenses. (Information current as of April 20, 2020.)

Facebook Twitter LinkedIn
Contact Us For A Free Case Evaluation
Latest Blog Posts
  • Kari Bracy: Ex-NYLife Broker Barred After Future Income Payments Probe

    Kari Bracy (CRD# 5656186), a financial professional previously working as a broker in Jacksonville Beach, Florida, has been barred by...

    Read More
  • FINRA Bars Ex-MML Broker Charles Evan Over Insurance Sales Practices

    Former MML Investors Services broker and investment adviser Charles Evan (CRD#836083) was recently the subject of a disciplinary action by...

    Read More
  • FINRA Bars Ex-Merrill Lynch Broker Zachary Wagner

    Zachary Wagner (CRD# 6694074), formerly a broker and investment adviser in Gilbert, Arizona, was recently barred by the Financial Industry...

    Read More
  • Paul Petrillo: Ex-Thrivent Broker Barred Over Discretionary Trades

    Paul Petrillo (CRD# 2212735), a financial professional formerly based in Volo, Illinois, was recently sanctioned by the Financial Industry Regulatory...

    Read More
  • Previous
  • Next