FINRA Bars Broker Warren Rowe, Jr. After “Impermissible” Client Loan

Warren Rowe (Warren Ellwood Rowe, Jr. CRD# 1065880) is a former registered broker whose last known employer was Oppenheimer & Co. Inc. (CRD#:249) of Richmond, VA. His previous employers include RBC Capital Markets, LLC (CRD#:31194) and Ferris, Baker Watts, LLC (CRD#:285), also of Richmond, and Wachovia Securities, LLC (CRD#:19616) of St. Louis, MO. He has been in the industry since 1982.

Two clients filed disputes against Rowe that indicated he borrowed money from them. The first, filed on 5/1/2020, included allegations of unauthorized trading and requested damages of $225,000 and was ultimately dismissed. The second dispute was filed on 10/5/2020, and included damages of $25,000, and was ultimately denied. The loans were allegedly made in August and September of 2019.

After the initial report that Rowe entered into a loan agreement with a client, he voluntarily resigned from Oppenheimer. The firm filed his Form U5 on 5/4/2020. The U5 stated that he entered into loan agreements with a client and failed to notify the firm of the transaction.

FINRA began an investigation and requested documents and information from Rowe on October 5, 2021 regarding the “impermissible” client loans. Rowe requested and was granted a one-week extension, making the due date October 26, 2021. The next day FINRA again made the request, to which Rowe again failed to respond. FINRA made a third request on November 12, 2021. The same day, Rowe’s legal counsel responded in an email to FINRA that Rowe would not be providing any requested information at any time.

Because Rowe violated many FINRA rules, FINRA issued a Letter of Acceptance, Waiver & Consent (AWC) that included a permanent bar from affiliation with any FINRA member in any capacity.

Rowe signed the AWC letter on December 31, 2021, and the bar became effective on January 3, 2022, after signature by FINRA legal counsel.

Did You Invest With Warren Rowe, Jr.?

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