FINRA suspends Philip Marcus Winstead (CRD #2331690, Cary, North Carolina)
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As reported in InvestmentNews, three Raymond James entities have agreed to pay over $15 million to resolve an investigation by the SEC. The settlement and SEC order focused on Raymond James’s actions in improperly charging certain clients advisory fees when the...read more
April 9, 2018 – An AWC was issued in which Winstead was assessed a deferred fine of $5,000 and suspended from association with any FINRA member in all capacities for two months. Without admitting or denying the findings, Winstead consented to the sanctions and to the entry of findings that he failed to provide written notice to his member firm of his outside business activities involving a firm customer, and that he received monthly compensation from the customer for his services. The findings stated that Winstead acted as an agent under a written power of attorney for the customer and received monthly compensation from the customer for his services averaging between $4,000 and $8,000. Winstead also provided inaccurate responses on annual firm compliance questionnaires by reporting that he had provided the firm with written notice of all outside business activities. The suspension is in effect from April 16, 2018, through June 15, 2018. (FINRA Case #2017053310201)
If you or someone you know has lost money investing with Philip Marcus Winstead, call the experienced FINRA arbitration attorneys at Epperson & Greenidge at 877-445-9261 for a free consultation. You may be eligible to recoup your losses. Epperson & Greenidge 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 877-445-9261 now to speak to an attorney for free.