Houston, Texas financial advisor Kim Tran (CRD# 5575725) was recently sanctioned and suspended in connection with alleged rule violations. Financial Industry...
Read MoreKeith Wakefield: FINRA Bars Chicago Financial Advisor
A disciplinary action taken by the Financial Industry Regulatory Authority against former Chicago, Illinois broker and investment advisor Keith Wakefield (CRD# 3250539) barred him after finding he failed to appear for testimony connected with its investigation of allegations he engaged in “trading improprieties.” A former representative of IFS Securities, Wakefield was barred from acting as a broker or otherwise associating with a broker-dealer firm.
According to a Letter of Acceptance, Waiver and Consent (No. 2019063576601) dated September 2019, Keith Wakefield was registered with IFS Securities from 2011 until August 2019, when the firm terminated his registration. FINRA subsequently launched an investigation into the possibility he participated in “trading improprieties” while associated with the firm. The regulator sent him a request on August 15, 2019 to appear and provide on-the-record testimony on September 19, 2019. Wakefield indicated to FINRA through counsel on September 5, 2019 that he would not appear and provide the requested testimony “at any time.” FINRA found this refusal to constitute a violation of FINRA Rule 8210, which requires persons under FINRA’s jurisdiction to provide testimony concerning matters under its investigation and forbids such persons from failing to provide information. FINRA also found his activities to constitute a violation of FINRA Rule 2010, which requires associated persons to observe high standards of commercial honor and just and equitable principles of trade during the course of their business. As a result of the foregoing alleged conduct, he was barred from associating with any FINRA member firm in any capacity.
Keith Wakefield’s disclosure records also list one employment separation: specifically, his August 2019 discharge from IFS Securities in connection to allegations he engaged in fraud and placed “fictitious trades.”
Keith Wakefield is currently not registered as a broker or investment advisor. His employment history includes IFS Securities in Chicago, Illinois; IFS Capital Markets in Chicago, Illinois; Cabrera Capital Markets in Chicago, Illinois; Lasalle Financial Services in Chicago, Illinois; and ABN AMRO in Stamford, Connecticut. He currently holds zero state licenses and has passed four securities industry qualification examinations.
