Thomas Stratton: Ex-Melbourne Rep Sanctioned, Barred

Thomas Stratton (CRD# 1646899), formerly a broker and investment adviser with World Choice Securities, was recently sanctioned by the Financial Industry Regulatory Authority. Previously a representative in the firm’s office in Melbourne, Florida, he was barred from acting as a broker or otherwise associating with any FINRA member firm.

According to a Letter of Acceptance, Waiver and Consent (No. 2021071245401) issued in August 2021, FINRA sent Thomas Stratton a request on May 28, 2021 to provide information and documents connected to a FINRA investigation into his conduct. The AWC Letter states that the investigation specifically concerned his “potential misuse of customer funds with respect to the sale of promissory notes related to a third party’s life insurance policy and misrepresentations thereto.” When he did not respond to the request, FINRA sent him another one on January 28, 2021. On July 13, 2021, FINRA sent him a third. The three requests were all issued pursuant to FINRA Rule 8210, which empowers FINRA to require persons under its jurisdiction to provide information connected to matters under its investigation—and which further prohibits persons under FINRA jurisdiction from failing to provide information. FINRA states that Mr. Stratton indicated via counsel on August 3, 2021 that he would not produce the requested documents or information. Finding that this refusal constituted violations of both FINRA Rule 8210 and Rule 2010, which requires brokers to uphold high standards of commercial honor, FINRA barred Mr. Stratton from associating with any FINRA member firm.

The August 2021 FINRA sanction is connected to two other disclosures listed on Thomas Stratton’s BrokerCheck report: his voluntary resignation from World Choice Securities in August 2021, as well as a September 2021 sanction by Maryland securities regulators. According to the disclosure, the Maryland Securities Division revoked his registration after he was barred by FINRA. 

Mr. Stratton’s BrokerCheck report also lists a customer complaint against him. Filed in July 2016, the complaint alleged he unsuitably managed the customer’s accounts, over-concentrated investments, inappropriately used margin, and breached his fiduciary duty. The complaint reached a $50,000 settlement.

According to the Financial Industry Regulatory Authority, Thomas Stratton holds 19 years of securities industry experience. His previous registrations include World Choice Securities (Melbourne, Florida; 2004-2021) and Financial Independence Systems (Dania Beach, Florida; 2002-2004). His credentials include the passage of five securities industry qualifying examinations: the Uniform Investment Adviser Law Examination, or Series 65; the Uniform Securities Agent State Law Examination, or Series 63; the Securities Industry Essentials Examination, or SIE; the General Securities Representative Examination, or Series 7; and the Investment Company Products/Variable Contracts Representative Examination, or Series 6. He presently holds no state licenses. (Information accessed on January 2, 2022.)

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