Worden Capital Management Financial Advisor, Steven Woods, Has Two Pending Customer Complaints, Alleging Unauthorized Trading
Steven Woods is a Financial Advisor at Worden Capital Management in New York, NY. Steven Woods has been in the securities industry since 2009 and previously worked at Laidlaw & Co. and two other brokerage firms that have since been expelled from the securities industry.
According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), Steven Woods has two customer complaint disclosures on his CRD, alleging “unauthorized trading, misrepresentation and unsuitability.” The alleged damages of these two complaints are $41,607 and $157,588, respectively.
For a copy of the Steven Woods’ CRD, click https://brokercheck.finra.org/individual/summary/5715598#disclosuresSection
Unauthorized trading is a prohibited sales practice in the brokerage industry. Financial Advisors are required to obtain authorization from the client to purchase and sell securities prior to making a transaction. This requirement also extends to the date and price at which the transactions is made. In other words, Financial Advisors must discuss and obtain prior approval of every aspect of a transaction before it is made. If a transaction is unauthorized, the client may be entitled to rescind the trade and be placed back in the same position he or she was in prior to the transaction.
Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives. Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients. To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.
The Wolper Law Firm represents investors nationwide in securities litigation and arbitration on a contingency fee basis. Matt Wolper, the Managing Principal of the Wolper Law Firm, is a trial lawyer who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities. Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters. We can be reached at 800.931.8452 or by email at firstname.lastname@example.org.