Alex Williams (CRD# 2646185), a broker and investment adviser based in New York, has received a pending customer complaint. According...Read More
Stephen Hart: Former CFWP Advisor Sanctioned; Conversion Allegations
A disciplinary action taken by the Financial Industry Regulatory Authority against former New York City broker and investment advisor Stephen Hart (CRD# 5021146) barred him after he failed to provide information related to a FINRA investigation into allegations he converted money or property. A former representative of CFWP Securities, Hart 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. 2018059557901) dated February 2019, Stephen Hart was registered with CFWP Securities from March 2017 until August 15, 2018, when the firm notified FINRA that it had discharged him for non-securities related “Suspicion of misconduct.” In October 2018, as part of an investigation into allegations he “converted money or property” outside his member firm, FINRA sent him a request to provide documents and information. The request was sent on October 29, 2018, and asked for production by November 12, 2018. When he did not produce the documents and information by that date, FINRA sent another request for production of documents and information by November 28, 2018. According to FINRA’s findings, he indicated through counsel to FINRA on January 8 and 10, 2019, that he would not produce the documents and information “at any time.” FINRA’s findings state that this refusal constituted violations of FINRA Rules 8210 and 2010. As a result of the foregoing, he was barred from association with any FINRA member in all capacities.
Stephen Hart is not currently registered as a broker or investment advisor. His employment history includes CFWP Securities LLC in New York, New York, Cantor Fitzgerald Investment Advisors, Allen & Company LLC, Robotti & Company LLC, and Blackrock Investments LLC. He currently holds no state licenses and has passed four securities industry qualification examinations.