Background Of Christopher Fernan ( CRD No. 5896584 )
Fernan entered the securities industry in 2011 when he became associated with Wells
Fargo Advisors LLC. He was last associated with Salomon Whitney Financial, which
filed a Uniform Termination for Securities Industry Registration (Form U5) terminating
Fernan’sregistration on February 17, 2017. On November 27, 2018, the firm filed an
amended Form U5 that disclosed Respondent may have engaged in conduct actionable
under applicable statute, rule, or regulation.
Fernan entered the securities industry in 2011 when he became associated with Wells
Fargo Advisors LLC. He was last associated with Salomon Whitney Financial, which
filed a Uniform Termination for Securities Industry Registration (Form U5) terminating
Fernan’sregistration on February 17, 2017. On November 27, 2018, the firm filed an
amended Form U5 that disclosed Respondent may have engaged in conduct actionable
under applicable statute, rule, or regulation.
Activity(s) Reported – Christopher Fernan
This matter originated from a review of a customer complaint disclosed by Salomon
Whitney in the February 17, 2017 Form U5.
On September 9, 2020, as part of its investigation into this matter, FINRA staff sent a
request to Respondent for on-the-record testimony pursuant to FINRA Rule 8210. As
stated in his email to FINRA staff on October 7, 2020, and by this agreement,
Respondent acknowledges that he received FINRA’s request and will not appear for onthe-record testimony at any time.
FINRA Rule 8210(a)(1) states, in relevant part, that FINRA may require any “person
associated with a member, or any other person subject to FINRA’s jurisdiction … to
testify at a location specified by FINRA staff … with respect to any matter involved in
the investigation.” A violation of FINRA Rule 8210 is also a violation of FINRA Rule
2010, which requires associated persons, in the conduct of their business, to “observe
high standards of commercial honor and just and equitable principles of trade.” By
refusing to appear for on-the-record testimony as requested pursuant to FINRA Rule
8210, Respondent violated FINRA Rules 8210 and 2010.
Can you expose the broker trying to trick you?
FINRA offers the free web tool BrokerCheck, which allows users to check a broker’s credentials, registration, and employment history. The disclosure part of BrokerCheck includes information on client conflicts, disciplinary proceedings, and specific financial and legal issues on the broker’s record.
Penalties And Sanctions
a bar from associating with any FINRA member in any capacity
Respondent understands that if he is barred or suspended from associating with any
FINRA member, he becomes subject to a statutory disqualification as that term is defined
in Article III, Section 4 of FINRA’s By-Laws, incorporating Section 3(a)(39) of the
Securities Exchange Act of 1934. Accordingly, he may not be associated with any
FINRA member in any capacity, including clerical or ministerial functions, during the
period of the bar or suspension. See FINRA Rules 8310 and 8311.
Recent Activity(s)Of The Individual/Firm
After receiving a request for on-the-record testimony issued by FINRA staff under
FINRA Rule 8210, Respondent refused to appear for testimony.
How To Spot A Fraud Finance Advisor (Infographic)
Help For Victims Of Christopher Fernan
If you have lost funds because of misrepresentation, unsuitable investment, or unsuitable investment strategy from Christopher Fernan. Then you can take legal action and get justice. Fraud, Malpractice & dereliction of duty should not be taken lightly, especially in this industry. We highly suggest that you notify authorities or seek legal action if your financial advisor or brokerage firm fails to abide by FINRA’s rules are regulations.
Financial advisors are regulatory & legally obligated to suggest (recommend) the most suitable investments/investment strategies to their clients. Their suggestions should have their client’s best interests and should be appropriate for their client’s goals and needs. Similarly, the brokerage firm which hires financial advisors also has a regulatory & legal obligation to keep a close watch and supervise their Financial Advisors’ practices & behavior. They need to make sure that the financial advisor is not being manipulative or having an unreasonable bias towards certain investments. If the financial advisor and/or the brokerage firm breaches these duties, then the client/customer may be entitled to a full or partial recovery of their losses.
Financial advisors need to have the interest of their clients when giving suggestions related to investments and investment strategies. Reasonable basis suitability requires the advisor to do their best to analyze & identify the risks and rewards associated with their suggested investment and/or investment strategy.
