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Scott Bailey Nelson Suspended and Fined for Fixed Indexed Annuity Sale Outside of Firm

FINRA suspended Scott Bailey Nelson and fined him $5,000 for allegedly selling a fixed indexed annuity to a customer outside the scope of his employment with FINRA-member firm Presidential Brokerage, Inc.

FINRA Case #2011026542401

The investigation concluded that Nelson was introduced to the customer at Presidential Brokerage, but nonetheless solicited and sold the annuity outside the scope of his employment with the firm and without informing the firm of the transaction.

FINRA found that although Nelson received a commission of $8,500 for this sale, he nonetheless falsely stated to Presidential Brokerage that he was not engaged in any outside business activity.

If you have invested with Scott Bailey Nelson or with any broker or financial professional who has solicited and effected sales outside of the confines of a FINRA-member firm and such misconduct has proven harmful to your investments or interests, please call The Law Offices of Jonathan W. Evans & Associates at (800) 699-1881 for an investigation and consultation.

Categories: Discipline, Selling Away, FINRA
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The Law Offices of Jonathan W. Evans & Associates - California Securities Fraud Attorney
Located at 12711 Ventura Boulevard, Suite #440 Studio City, CA 91604. View Map
Phone: (800) 699-1881 | Local Phone: (818) 760-9880.
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