The Investor’s Watchdog

The Investor's Watchdog

Florida General Securities Representative Consents to FINRA Sanctions to Resolve Allegations of Accepting a $10,000 Loan from Customer without Firm Approval

Friday, November 22, 2019

Cody Hawkins-Fitzgerald (Hawkins), a former general securities representative of Waddell & Reed, Inc., recently consented to sanctions imposed by the Financial Industry Regulatory Authority (FINRA) Department of Enforcement to resolve alleged violations of securities industry rules.

According to the Letter of Acceptance, Waiver and Consent (AWC) approved on November 12, 2019, Hawkins was associated with Waddell & Reed, Inc. in Maitland, Florida from December 2014 to December 2017. His FINRA BrokerCheck report reveals that he was associated with numerous FINRA member firms since obtaining his license, including Inlet Securities, LLC in Winter Park, Florida (November 2009 to September 2012) and Cetera Advisors LLC in Orlando, Florida (August 2012 to December 2014).

FINRA Department of Enforcement alleges in the AWC that around April 2015, Hawkins borrowed $10,000 from an elderly customer without disclosing the loan to the firm or obtaining pre-approval from the firm. Thus, Hawkins violated FINRA Rules 3240 and 2010.

Without admitting or denying the allegations made against him, Cody Fitzgerald-Hawkins agreed to a 60-day suspension from associating with all FINRA member firms in all capacities and a $5,000 fine.

If a broker was not properly supervised while registered at a brokerage firm, the firm can be held liable for the broker’s misconduct. Did your broker cost you money? If so, you may be able to recover from your broker or the brokerage firm where he was registered. Since 1998, our team of attorneys has been representing victims of investment fraud and broker misconduct. Call us today at 1-877-410-8172 for a free, no obligation consultation.

Author: Jason T. Albin

Jason Albin is an Attorney and Partner at ChapmanAlbin, the investor rights law firm. He has represented hundreds of investors who have lost money due to broker misconduct, unsuitable investment advice and fraud.​ Jason also represents individuals in “whistleblower” suits filed against unscrupulous companies that try to defraud the US federal and state governments.

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