Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) and accessed on June 16, 2018 indicate that New York-based SW Financial broker Stephen Sullivan is involved in a pending customer dispute. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Sullivan (CRD# 3123249).
Stephen Sullivan has spent 19 years in the securities industry and has been registered with SW Financial in Melville, New York since May 2018. Previous registrations include Worden Capital Management in Melville, New York (2017-2018); Newbridge Securities Corporation in New York, New York (2016-2017); Legend Securities in Miller Place, New York (2015-2016); Tryco Securities in Melville, New York (2015); Brookville Capital Partners in Melville, New York (2015); Wilmington Capital Securities in Melville, New York (2014-2015); Brookville Capital Partners in Uniondale, New York (2012-2014); First Midwest Securities in Garden City, New York (2010-2012); JP Turner & Company in Farmingdale, New York (2007-2010); Newbridge Securities Corporation in Farmingdale, New York (2006-2007); Whitaker Securities in New York, New York (2006); Granite Securities in Melville, New York (2005-2006); Ladenburg Thalmann & Company in New York, New York (2002-2005); and Ladenburg Capital Management in Bethpage, New York (1998-2002). He has passed two securities industry examinations: Series 63 (Uniform Securities Agent State Law Examination), which he obtained on November 6, 1998, and Series 7 (General Securities Representative Examination), which he obtained on October 30, 1998. He is a registered broker with 17 US states and territories: Arizona, California, Connecticut, Georgia, Indiana, Iowa, Kansas, Louisiana, Minnesota, Nebraska, New York, Oklahoma, Pennsylvania, South Carolina, South Dakota, Texas, and Virginia.
According to his BrokerCheck report, Stephen Sullivan has received one pending customer complaint and one regulatory sanction.
In May 2018 a customer alleged Stephen Sullivan, while employed at Newbridge Securities Corporation, recommended unsuitable investments, executed excessive trades, and failed in his supervisory duties in connection to investments in common and preferred stock. The customer is seeking $540,618 in damages in the pending complaint.
In 2016 FINRA sanctioned him following allegations he exercised discretion in the accounts of two separate clients without first obtaining written authorization from the clients or his firm’s approval of the accounts as discretionary. FINRA’s findings state that while he discussed possible transactions with the customers, he exercised discretion when he executed them on future dates. He was issued a 10-day suspension and a fine of $5,000.
If you or someone you know has lost money investing with Stephen Sullivan, call Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup your losses. Fitapelli Kurta accepts all cases on a contingency basis: we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.