Stanley Secor (Stanley Bernard Secor CRD:#1982414) is a former registered broker and investment advisor whose last employer was Cetera Advisor Networks LLC (CRD# 13572) of Salt Lake City, UT. His previous employers include Girard Securities, Inc. (CRD#:18697) and Securian Financial Services, Inc. (CRD#:15296), also of Salt Lake City, and WS Griffith Securities, Inc. (CRD#:10410) of Hartford, CT. He has been in the industry since 1989.
In 2015,Girard Securities partnered with Cetera Advisor Networks joining the Cetera platform. As part of Cetera, it is responsible for any of Girard’s liabilities. Cetera is a large network of interrelated brokerage firms all operating under the Cetera umbrella.
The Utah Division of Securities notified both Secor and Cetera that the agency began an investigation into Stanley Secor’s activities while with the firm. After an on-site investigation, the agency found that Secor engaged in:
- Sharing in client accounts
- Roles in estates and trustee appointments that were undisclosed and unapproved
- Designation as client’s beneficiary without the firm’s knowledge or approval
- Violation of former BD’s WSPS and misrepresentation regarding the sources of funds
- Control and custody of client funds
- False statements
- Engaging in dishonest or unethical practices
Cetera discharged Secor on 12/18/2019, explaining: “while under suspension by the firm, registered representative violated the terms of his suspension by interfering with the forwarding of securities-related emails to the representative’s regional director.”
In April of 2020, Stanley Secor consented to an order by the Utah Division of Securities that revoked his securities licensure and barred him from association with any Utah-based broker-dealer. He was also fined $25,000 for “engaging in dishonest or unethical practices in violation of the policies of his employing firms and securities industry regulations.”
During FINRA’s investigation in July 2020, Secor declined to provide requested information to FINRA staff, in violation of FINRA Rules 8210 and 2010. FINRA then issued a letter of Acceptance, Waiver & Consent (AWC), in which he agreed to sanctions that included being barred indefinitely from association with any FINRA broker-dealer. Secor neither admitted nor denied the findings. The bar became final on 7/28/2020.
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