Pending investor complaints against Newport Beach financial advisor Martin Klein (CRD# 1778613) allege that his investment advice resulted in damages...Read More
Steve Coffey: Towson, Maryland Financial Advisor Barred
A disciplinary action taken by the Financial Industry Regulatory Authority against former Towson, Maryland and Orrville, Ohio broker and investment advisor Steve Coffey (CRD# 4462225) barred him after finding he refused to provide documents and information connected to its investigation of certain promissory note sales. A former representative of First American Securities and American Portfolios Financial Services, Coffey 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. 2018058564201) dated July 2018, Steve Coffey was associated with First America Securities from 2013 until 2015, when the firm terminated his registration. FINRA initiated an investigation into promissory notes he sold to customers while associated with First American, pursuant to which it sent him a request for documents and information on June 4, 2018. According to FINRA’s findings, Coffey indicated to FINRA on June 21, 2018 that he would not produce the requested documents and information. According to FINRA, this refusal constituted a violation of FINRA Rule 8210, which in part requires that persons under FINRA’s jurisdiction to provide information connected to matters under FINRA’s investigation if requested to do so by the regulator. It also found the refusal 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. As a result of the alleged foregoing conduct, Coffey was barred from associating with any FINRA member in all capacities.
Steve Coffey is currently not registered as a broker or investment advisor. His employment history includes American Portfolios Financial Services in Towson, Maryland; First American Securities in Orville, Ohio; MML Investors Services in Rochester, New York; Nationwide Securities in Rochester, New York; NYLife Securities in New York, New York; and AXA Advisors in New York, New York. He currently holds zero state licenses and has passed three securities industry qualification examinations.