Steven Musielski, Former Cambria Capital Broker, Barred From Industry

Steven Musielski (Steven Dwayne Musielski CRD# 2128821) is a previously registered broker whose last known employer was Cambria Capital, LLC (CRD#:133760) of Anaheim, CA. His previous employers include Spencer Edwards, Inc. (CRD#:22067, expelled by FINRA in 2019), J.P. Turner & Company, L.L.C. (CRD#:43177), and Gunnallen Financial, Inc (CRD#:17609), all of Placentia, CA.  Three of his nine previous employers have been expelled by FINRA. He has been in the industry since 1991.

Musielski had recently taken a FINRA cause exam. During the exam, he made comments to the company’s compliance department that he had potentially utilized time and price discretion for a longer than he should have. The firm is investigating whether there are records supporting this possible violation of industry rules and firm policies and procedures regarding the use of time and price discretion. Eventually, Musielski voluntarily resigned from Cambria Capital.

FINRA sent a request to Musielski in September of 2021, requesting documents and information in connection with their investigation into his sales practices. The request was to further investigate his potential exercise of discretion without any written authorization, possible excessive trading, and unsuitable investments in leveraged and inverse leveraged securities.

Musielski’s legal counsel sent an email to FINRA on October 6, 2021. In this email, Musielski acknowledged the receipt of FINRA’s requests, and stated that he would not produce any documentation or information requested.

As a result, FINRA Issued a sanction barring Musielski from associating with any FINRA member in all capacities, effective 11/9/2021.

Did You Invest With Steven Musielski?

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