Alex Williams (CRD# 2646185), a broker and investment adviser based in New York, has received a pending customer complaint. According...Read More
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.)