According to publicly available documents, Steven Harris, a former financial adviser to Transamerica Financial Advisors, Inc., disclosed two regulatory events: termination and expulsion from the securities industry. The Financial Industry Regulatory Authority (FINRA) is the authority that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints, disputes, and regulatory sanctions. In addition, brokers are required to disclose certain financial matters such as personal bankruptcy judgments and liens.
In March 2020, it was claimed by the FINRA case that Harris had either made up or altered documents which he then submitted to FINRA, following their request for an inquiry into his business dealings that had not been previously revealed. The accusation states that FINRA had requested Harris to supply specific financial records and bank statements, but Harris handed over deceptive and incomplete data to the organization. It is alleged that Harris fabricated bank statements and other financial documents, presenting these counterfeit documents to FINRA. Moreover, within the complaint, Harris is charged with making false statements about his actions, insisting that he did not modify any of the documents he provided to FINRA.
The sanction was a 30-day suspension. Harris was also expelled from FINRA in another capacity. In September 2017, the FINRA case alleged that Harris did not respond to a request for information from FINRA.
Harris was employed by Transamerica Financial Advisors, Inc. from August 2018 to 2019 when he was fired after a complaint was filed with the company alleging that he received funds from a client in connection with an investment opportunity that the company did not approve. Harris was with Transamer America Financial Advisers from March 2018 to May 2019. He was fired in August 2018.
If you have had a loss in an account managed by Harris, please call at 1 888-628-5590 to see if you may be able to claim damages through FINRA arbitration.
source https://financialadvisorcomplaints.com/steven-harris-barred-from-finra-transamerica-financial/