{"id":9809,"date":"2021-02-23T14:38:49","date_gmt":"2021-02-23T19:38:49","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=9809"},"modified":"2021-02-23T14:38:49","modified_gmt":"2021-02-23T19:38:49","slug":"worden-capital-management-churn-customer-accounts","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/worden-capital-management-churn-customer-accounts\/","title":{"rendered":"Worden Capital Management Churn Customer Accounts?"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-9811 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/02\/Worden-Capital-Management.jpg\" alt=\"Worden Capital Management LLC (CRD# 148366), a FINRA-registered brokerage firm, was sanctioned $1.5 million by FINRA to settle findings that the firm churned (excessively traded) customer accounts. The sanction includes a $350,000 fine and $1.2 million in restitution.  According to a FINRA (the Financial Industry Regulatory Authority) letter of Acceptance, Waiver, and Consent (AWC), between FINRA and respondents Worden Capital Management (Worden) and principal Jamie Worden (Worden):  \u201cFrom January 2015 to October 2019, WCM and Worden failed to establish, maintain, and enforce a supervisory system, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with FINRA\u2019s suitability rule as it pertains to excessive trading. As a result, WCM registered representatives made unsuitable recommendations and excessively traded customer accounts, causing customers to incur more than $1.2 million in commissions.\u201d\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/02\/Worden-Capital-Management.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/02\/Worden-Capital-Management-180x120.jpg 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>Worden Capital Management LLC (CRD# <a href=\"https:\/\/brokercheck.finra.org\/firm\/summary\/148366\" target=\"_blank\">148366<\/a>), a FINRA-registered brokerage firm, was sanctioned $1.5 million by FINRA to settle findings that the firm churned (excessively traded) customer accounts. The sanction includes a $350,000 fine and $1.2 million in restitution. <a href=\"https:\/\/www.silverlaw.com\/blog\/worden-capital-management-churn-customer-accounts\/#more-9809\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Worden Capital Management LLC (CRD# 148366), a FINRA-registered brokerage firm, was sanctioned $1.5 million by FINRA to settle findings that the firm churned (excessively traded) customer accounts. The sanction includes a $350,000 fine and $1.2 million in restitution. Continue reading \u203a<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[589,580],"tags":[],"class_list":["post-9809","post","type-post","status-publish","format-standard","hentry","category-churning-2","category-stockbroker-misconduct"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Worden Capital Management Churn Customer Accounts? &#8212;<\/title>\n<meta name=\"description\" content=\"Worden Capital Management was sanctioned $1.5 million by FINRA to settle findings that they churned (excessively traded) customer accounts.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/worden-capital-management-churn-customer-accounts\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Worden Capital Management Churn Customer Accounts? 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&#8212;","twitter_description":"Worden Capital Management was sanctioned $1.5 million by FINRA to settle findings that they churned (excessively traded) customer accounts.","twitter_image":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/02\/Worden-Capital-Management.jpg","twitter_misc":{"Written by":"Silver Law Group","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.silverlaw.com\/blog\/worden-capital-management-churn-customer-accounts\/#article","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/worden-capital-management-churn-customer-accounts\/"},"author":{"name":"Silver Law Group","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"headline":"Worden Capital Management Churn Customer Accounts?","datePublished":"2021-02-23T19:38:49+00:00","mainEntityOfPage":{"@id":"https:\/\/www.silverlaw.com\/blog\/worden-capital-management-churn-customer-accounts\/"},"wordCount":660,"image":{"@id":"https:\/\/www.silverlaw.com\/blog\/worden-capital-management-churn-customer-accounts\/#primaryimage"},"thumbnailUrl":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2021\/02\/Worden-Capital-Management.jpg","articleSection":["Churning","Stockbroker Misconduct"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.silverlaw.com\/blog\/worden-capital-management-churn-customer-accounts\/","url":"https:\/\/www.silverlaw.com\/blog\/worden-capital-management-churn-customer-accounts\/","name":"Worden Capital Management Churn Customer Accounts? 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