Clifford Morgan of Chesterton, Indiana submitted a Letter of Acceptance, Waiver and Consent (AWC) to the Department of Enforcement of the Financial Industry Regulatory Authority for allegedly participating in numerous unauthorized business activities. Mr. Morgan first became associated with FINRA in January 2004 as an Investment Company and Variable Contracts Products Representative, a State Securities Agent, and a General Securities Representative (GSR). From January 2007 through December 2014, Mr. Morgan was associated with FINRA member firm Uhlmann Price Securities (Uhlmann Price).
FINRA found that between November 2011 and December 2014, while associated with Uhlmann Price, Mr. Morgan participated in private securities transactions without written approval from his member firm. Additionally FINRA alleged that Mr. Morgan made material misrepresentations to Uhlmannn Price customers and also failed to comply with FINRA’s requests for information regarding the allegations.