FINRA Bars Dusty Sternadel After Refusing To Testify In Investigation

Dusty Sternadel (Dusty Lynn Sternadel CRD# 5872600) is a former broker and investment advisor who was last registered with Ameriprise Financial Services, LLC (CRD#:6363) of Wichita Falls, TX. Her previous employers were Morgan Stanley (CRD#:149777) and Edward Jones (CRD#:250), also of Wichita Falls. She has been in the industry since 2011.

Ameriprise Financial Services terminated her employment on 7/29/2022. In the Form U5 submitted to FINRA following her discharge, the company stated, “The registered representative was terminated for violation of company policies related to misappropriation of client funds.”

Although Sternadel is no longer employed by a FINRA broker dealer, she is still subject to jurisdiction under Article V, Section 4 of FINRA’s Bylaws. FINRA has this jurisdiction for two years after separation of employment.

In its investigation into Sternadel’s activity, FINRA requested additional information from her on August 26, 2022. This information included on-the-record testimony. On August 30, 2022, Sternadel stated in a phone call with FINRA staff that she would not be participating in on-the-record testimony nor provide any requested documentation. Refusing to provide this documentation and appearing for testimony is in violation of FINRA Rules 8210 and 2010. FINRA then issued a Letter of Acceptance, Waiver & Consent (AWC), in which Sternadel agreed to the sanction of becoming permanently barred from any affiliation with any FINRA broker dealer in any capacity, effective September 9, 2022.

Following her discharge, two clients filed disputes with identical allegations of misappropriation of funds. The first was filed on September 8, 2022 with requested damages of $400,000. The second dispute was filed on September 28, 2022, with requested damages of $10,000. Both claims are currently pending.

A previous claim filed on 10/6/2016 included allegations of misrepresentation of a Protective Annuity purchased in November 2013 and a Prudential Annuity purchased in October 2014. The claim was made while Sternadel was employed with Edward Jones. Following the firm’s own internal review, the claim was denied.

Did You Invest With Dusty Sternadel?

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