Close Menu
Free Consultation: 888-976-6111

Steven McCormick: FINRA Bars Osaic Advisor

Simi Valley, California financial advisor Steven McCormick (CRD# 5059233) was recently barred by FINRA in connection with alleged rule violations. Financial Industry Regulatory Authority records show that he is registered as a broker and an investment advisor Osaic Wealth, having previously been registered with Woodbury Financial Services.

A Letter of Acceptance, Waiver, and Consent (No. 2023077823001) released by FINRA describes its recent disciplinary action against Mr. McCormick. Filed in October 2024, it alleges that he refused to provide documents and information requested by FINRA as part of an investigation that “originated from a complaint” made to the regulator. As the AWC Letter explains, FINRA Rule 8210 requires brokers to provide FINRA with information involved in matters under its investigation. The rule also forbids brokers from refusing to provide information pursuant to the rule.

The regulator sent Mr. McCormick a request for information and documents on September 24, 2024, the Letter states. On October 3, 2024, he informed FINRA via counsel that he had received the request but refused to comply. FINRA found that his refusal violated Rule 8210 as well as Rule 2010, which stipulates that brokers must observe high standards of commercial honor and just and equitable principles of trade in the course of their business. As such, it barred him from associating with any member firm in any capacity.

According to the Financial Industry Regulatory Authority, Steven McCormick holds 18 years of securities industry experience. Based in Simi Valley, California, he has been registered as a broker and an investment advisor Osaic Wealth since January 2024. His past registrations include Woodbury Fianncial Services, Questar Capital Corporation, Wescom Financial, Chase Investment Services, Wamu Investments, and Citicorp Investment Services. His credentials include the passage of four securities industry qualifying exams: the General Securities Representative Examination, or Series 7; the Securities Industry Essentials Examination, or SIE; the Uniform Securities Agent State Law Examination, or Series 63; and the Uniform Investment Adviser Law Examination, or Series 65. He is licensed in Arizona, California, Florida, Idaho, Montana, Nevada, and Texas. (Information current as of October 22, 2024.)

Carlson Law represents investors throughout the United States in claims against financial advisors and investment firms. If you or a loved one have suffered investment losses, please call us at 888-976-6111 or complete our contact form for a free and confidential consultation.

Facebook Twitter LinkedIn
Contact Us For A Free Case Evaluation
protected by reCAPTCHA Privacy - Terms
Latest Blog Posts
  • Steve Bransburg: Gradient Advisor Fired by AllState

    Conroe, Texas financial advisor Steve Bransburg (CRD# 1003470) was recently terminated by a former member firm in connection with alleged...

    Read More
  • Leonard Suskind: UBS Advisor Received $1.5mm Complaint

    A recent, denied investor complaint against Hallandale Beach, Florida financial advisor Leonard Suskind (CRD# 1140599) alleged that his conduct resulted...

    Read More
  • Fred Hilton: $500K Complaint Against LPL Advisor

    Gainesville, Florida financial advisor Fred Hilton (CRD# 2161935) allegedly recommended unsuitable investments, according to a recent investor complaint. Financial Industry...

    Read More
  • Walter Schram: Ameriprise Advisor Lands $300K Complaint

    A recent investor complaint against Farmington Hills, Michigan financial advisor Walter Schram (CRD# 1728096) alleges that his conduct resulted in...

    Read More
  • Previous
  • Next