FINRA bars Craig Eugene Walker (CRD #5427440, Madison, Mississippi)
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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
Craig Eugene Walker (CRD #5427440, Madison, Mississippi) April 30, 2018 – A Letter of Acceptance, Waiver and Consent (AWC) was issued in which Walker was barred from association with any FINRA member in all capacities. Without admitting or denying the findings, Walker consented to the sanction and to the entry of findings that he submitted to an insurance company affiliated with his member firm an unauthorized application for a $150,000 fixed annuity, purportedly on behalf of an individual. The findings stated that the individual had, at that time, a brokerage account at a broker-dealer that was not affiliated with Walker’s firm. Walker electronically affixed the individual’s signature on the application. In connection with that application, Walker caused to be submitted to the individual’s broker-dealer written instructions to liquidate and transfer the individual’s brokerage account to fund the annuity (the rollover form). Additionally, he submitted to the insurance company a disclosure form regarding replacement of life insurance or annuities (the disclosure form). Walker electronically affixed the individual’s signature on the rollover form and the individual’s signature and initials on the disclosure form. The individual did not authorize the purchase of an annuity, or the liquidation or transfer of her brokerage account. Furthermore, the individual did not know about or approve the forms in question Disciplinary and Other FINRA Actions 13 June 2018 or Walker’s signing of their name or initials. As the designated producer on the annuity application, Walker expected to receive compensation in connection with the annuity transaction. The individual’s brokerage account was not liquidated or transferred and no annuity was issued because the broker-dealer that maintained the brokerage account requested additional documentation and the individual, upon learning of the attempt to liquidate the brokerage account, complained. (FINRA Case #2017053798602)
If you or someone you know has lost money investing with Craig Eugene Walker call the experienced FINRA arbitration attorneys at Epperson & Greenidge, LLP at 877-445-9261 for a free consultation. You may be eligible to recoup your losses. Epperson & Greenidge, LLP 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.