Dudley Stevens Barred By FINRA After Third-Party Wire Allegations

Dudley Stevens (CRD#: 4119268,aka “Stephen Franklin Dudley”) is a previously registered broker and investment advisor whose last known employer was Coastal Equities, Inc. (CRD#:23769) of New York, NY. Previous employers include Prospera Financial Services, Inc. (CRD#:10740), Wells Fargo Advisors, LLC (CRD#:19616), and HSBC Securities (USA) INC. (CRD#:19585), also of New York City.  In addition to New York, he has also worked in Birmingham, AL, Dallas, TX, Boca Raton, FL, and Carle Place, NJ. He has been in the industry since 2000.

Coastal Equities terminated Stevens’ employment on 7/20/2018 after he was “reviewed for suspicious letters of authorization concerning third party wires.” No additional information is available, and Coastal Equities was his most recent broker registration.

In response to a FINRA investigation, Stevens failed to provide any requested information after two letters of suspension in September of 2018. FINRA issued an Acceptance, Waiver & Consent (AWC) letter, and upon signature, barred Stevens indefinitely from any association with FINRA member firms in any capacity. No additional information is available.

Following the FINRA ban, two new customer disputes were filed against Stevens. The first, filed on 12/7/2018, alleges that Stevens engaged in excessive trading and churning, as well as $100,000 invested in an “unauthorized PST” was a total loss under Stevens. The client requested damages of $250,000, and the case was settled for $41,250.00.

The second customer dispute was filed on 2/20/2019, after a client alleges that Stevens recommended unsuitable investments, unauthorized trades and excessive trading. The damages requested in this case total $500,000. The dispute is currently listed as “pending.”

Stevens had a previous FINRA disciplinary action in 2014, after he was accused of taking client information from one firm with him to another. Using a spreadsheet, he took confidential, nonpublic client information from HSBC with him to his new firm, Wells Fargo Advisors. FINRA issued a ten-day suspension with a $5000 fine, which he paid on July 1, 2014, at the end of his suspension.

Did You Invest Money With Dudley Stevens?

Silver Law Group represents investors in securities and investment fraud cases. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to help recover investment losses due to stockbroker misconduct. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases are handled on a contingent fee basis, meaning that you won’t owe us until we recover your money for you. Contact us today and let us know how we can help.