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FINRA Fines, Suspends Tyler Boone Powell for Improper Use of Discretion

FINRA fined and suspended former Wells Fargo broker Tyler Boone Powell for exercising discretion in a client's account without first getting written authorization from the customer and from the firm.

FINRA AWC #2014040633301

The report states that Powell effected 159 discretionary transactions in a customer's fee-based securities account without written authorization, and without firm permission as Wells Fargo reportedly had not accepted the account as discretionary and did not permit the use of discretion in such fee-based accounts.

Powell's BrokerCheck report notes an "employment separation after allegations" disclosure from August 2014 in which Powell voluntarily resigned from Wells Fargo Advisors' Montecito, CA branch amidst allegations of possible unauthorized trading.

According to BrokerCheck, Powell subsequently registered with FINRA-member firm Stifle, Nicolaus & Company, Inc. in Santa Barbara, California.

If you have invested with Wells Fargo-turned-Stifel, Nicolaus & Co broker Tyler Boone Powell or with any broker or financial adviser whose inappropriate use of discretion or unauthorized trading activity in your account 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.

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.