SA Stone Stockbroker Barred for Engaging in Private Securities Transactions

Christopher Todd Wendel submitted a Letter of Acceptance, Waiver, and Consent (AWC) in which he was barred by the Financial Industry Regulatory Authority (FINRA) for allegedly providing false declaration, a false on-the-record testimony, and engaging in private securities transactions all in violation of FINRA Rules 3280, 2010 and 8210. From September 2014 to September 2017, Christopher Wendel was employed by SA Stone Wealth Management (SA Stone) as a General Securities Representative. According to FINRA, between April and August of 2017, Wendel was accused of engaging in private securities transactions without providing notice or receiving approval from his member firm. FINRA stated that Wendel solicited four investors to purchase promissory notes in a purported real estate investment fund totaling $343,500 while he received over $10,000 in commissions. The findings also stated that FINRA requested information regarding the transactions, and Wendel provided a signed declaration falsely stating that his participation in these sales occurred after his association with the firm ceased.

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