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Steven Hirata: FINRA Sanctions, Bars Ex-PFS Investments Advisor
Former Fresno financial advisor Steven Hirata (CRD# 1188927) was recently sanctioned by the Financial Industry Regulatory Authority for allegedly refusing to cooperate with an investigation into his conduct. FINRA records show that the former PFS Securities broker is currently barred from acting as a broker or otherwise associating with a broker-dealer firm.
According to a Letter of Acceptance, Waiver, and Consent (No. 2021072592201) issued in May 2022, FINRA sent Mr. Hirata a request on March 29, 2022 to produce information and documents connected to its investigation into whether he “participated in an undisclosed private securities transaction” by April 12, 2022. Mr. Hirata requested and received an extension until May 10, 2022, the AWC Letter states, before indicating in a May 11, 2022 phone call with FINRA staff that he would “not produce the information or documents requested.” FINRA found that his refusal constituted violations of Rules 8210 and 2010, barring him from associating with any FINRA member in any capacity.
Mr. Hirata’s BrokerCheck report also discloses his September 2021 termination from PFS Investments. According to the disclosure, PFS fired him in connection with allegations that he “admitted to participating in a private securities transaction without notifying the firm.”
According to the Financial Industry Regulatory Authority, Steven Hirata holds 37 years of securities industry experience. Most recently based in Fresno, California, he was a broker with PFS Investments from 2010-2021 and from 1984-2009. His credentials include the passage of three securities industry qualifying exams: the Investment Company Products/Variable Contracts Representative Examination, or Series 6; the Securities Industry Essentials Examination, or SIE; and Uniform Securities Agent State Law Examination, or Series 6. He currently holds no state licenses as a broker or as an investment advisor. (Information current as of August 10, 2022.)
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