December 2020-St. Louis, MO
According to publicly available records of Spenser William Sullivant (CRD#6524062) , a former stockbroker who is currently unregistered who worked for Waddell & Reed, discloses a regulatory event and a termination.
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
In May of 2020 FINRA case #2019064078501 was filed alleging that while taking qualification examination, Sullivant hid study materials for the exam in the testing center’s restroom, then visited the restroom during unscheduled breaks from the exam. The findings stated that the materials were later discovered and confiscated by an exam proctor. By hiding study materials where they were available during the exam, Sullivant did not comply with the rules of conduct governing the Series 24 qualification examination. He received an 18 month suspension from May 2020 until November of 2021 and was fined $5,000.
Sullivant began working for Waddell & Reed in 10/2015. After leaving Waddell & Reed in 1/2020, he took a job with Edward Jones. In February of 2020 Sullivant was discharged from Edward Jones as a result of concerns related to his Series 24 examination.
If you have questions about an account handled by Spenser Sullivant call to discuss your options with an experienced securities attorney.
Rex Securities Law , with offices in Boca Raton, FL, and Austin, TX, provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.
Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
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