Securities Lawyers Blog
According to records kept by The Financial Industry Regulatory Authority (FINRA) financial Broker Stephen Trask (Trask), previously associated with Vanderbilt Securities, LLC, has at least one disclosable event. These events include one tax lien, alleging that Trask recommended unsuitable investments in different investment products including debt securities among other allegations and complaints.
FINRA BrokerCheck shows a final customer complaint on February 20, 2025.
Without admitting or denying the findings, Trask consented to the sanctions and to the entry of findings that he exercised discretionary authority to enter at least 675 stop-loss orders in four customers’ accounts without having prior written authorization. The findings stated that Trask’s member firm prohibited representatives from exercising discretionary authority in accounts and had not accepted the customers’ accounts as discretionary. Trask’s firm later submitted an amended Form U5 indicating that a customer had submitted a complaint about losses in her account.
