Skip to main content

Exit WCAG Theme

Switch to Non-ADA Website

Accessibility Options

Select Text Sizes

Select Text Color

Website Accessibility Information Close Options
Close Menu
Carlson Law, P.A. Motto
  • Free Consultation
  • ~

Luke Powell: FINRA Suspended Growth Capital Services Broker

A disciplinary action taken by the Financial Industry Regulatory Authority against San Francisco, California broker Luke Powell (CRD# 2605657) suspended him over allegations he participated in undisclosed and unapproved private securities transactions. A representative of Growth Capital Services and former representative of Flying Cloud Securities, Powell was suspended for three months and fined $5,000.

According to a Letter of Acceptance, Waiver and Consent (No. 2015045185501) dated November 2018, Luke Powell was associated with Flying Cloud Securities and acting through a company it had “previously approved as an outside business activity” when, in September 2014, he made an agreement with another company to engage in a private offering of that company’s convertible notes. According to FINRA’s findings, Powell “otherwise was not affiliated with that company.” The findings go on to state that he engaged in marketing activities surrounding the private offering, and introduced it to a venture capital fund that made an investment of $200,000. He also allegedly “arranged for the placement of the offering on a crowdfunding website” in January 2015, and by the end of that month it had raised a sum of $150,000 via the website in question, “including a $1,000 personal investment by Powell.” According to FINRA, the company paid him $17,500 for his activities, and he did not provide written notice to his firm about them or receive its written permission to engage in the private securities transactions. FINRA states that these activities constituted violations of FINRA Rule 2010 and NASD Rule 3040. As a result of the foregoing alleged conduct, he was suspended from associating with any FINRA member in any capacity for three months. He was also ordered to pay a fine of $5,000 and disgorgement of $17,500.

Luke Powell has been registered as a broker with Growth Capital Services in San Francisco, California since 2015. His employment history includes Flying Cloud Securities in San Francisco, Gordian Investments, Equus Financial Consulting, Newoak Capital Markets, J. Giordano Securities Group, Independent Research Group, BancBoston Robertson Stephens, BancAmerica Robertson Stephens, and Robertson Stephens & Company. He currently holds 17 state licenses and has passed three securities industry qualification examinations.

Facebook Twitter LinkedIn

By submitting this form I acknowledge that form submissions via this website do not create an attorney-client relationship, and any information I send is not protected by attorney-client privilege.

Latest Blog Posts

Brian Marston: $1.7MM Real Estate Complaint Against Woodbury Rep

Greenwood Village, Colorado stockbroker and investment adviser Brian Marston (CRD# 733083) is involved in pending investor disputes. According to the Financial Industry Regulatory Authority, Marston is currently a representative of...

Read More

$3MM Complaint Against Elm Grove Rep Timothy Bartelt

Raymond James stockbroker Timothy Bartelt (CRD# 2501532) is the subject of an investor complaint alleging $3 million in damages. According to the Financial Industry Regulatory Authority, Bartelt is based in...

Read More

Michael Shillin: SEC Files SpaceX Charges Against Ex-AGP Rep

Former Altoona stockbroker and investment adviser Michael Shillin (CRD# 5927156) has been named in charges by the Securities and Exchange Commission alleging he deceived his investors. According to the Financial...

Read More

By submitting this form I acknowledge that form submissions via this website do not create an attorney-client relationship, and any information I send is not protected by attorney-client privilege.

Skip footer and go back to main navigation