Scott Polish, a registered representative from Solon, Ohio, formerly with Wells Fargo Clearing Services, was suspended from FINRA membership as a result of an investigation into his misuse of money from a customer without obtaining firm approval, which is a violation of FINRA rules. Polish entered into an acceptance waiver and consent agreement with FINRA in which he neither admitted nor denied the findings, and was barred from FINRA.
In May 2017, Scott Polish agreed to the suspension and FINRA published its findings that he misused two of his customer’s funds. FINRA asked for documentation and information about these claims, and Polish refused to give them anything. Because of he did not provide sufficient information, FINRA barred him from association.
Earlier this year, he was accused by a couple of his elderly customers of paying his credit card bill with money that they had given him for investments. While he reportedly credited them the money back, he did not inform his firm.
Scott Polish’s registration and disciplinary history
In order to lawfully sell investments to the public, one must either be registered or exempt from registration.
Scott Polish was registered with Wells Fargo Clearing Services from May 2008 to April 2017 and Citigroup Global Markets from May 2001 to June 2008.
According to FINRA’s CRD disclosure report, Scott Polish has been the subject of one customer complaint, one employment termination after allegations, and one regulatory investigation.
FINRA is the primary regulator for broker dealers and registered representatives in the United States. FINRA’s role is to promulgate standards and practices for the brokerage industry and to ensure compliance with its rules by licensed entities and individuals.
FINRA has two primary ways to ensure compliance with the securities laws: by means of an enforcement unit that investigates and disciplines wrongdoing, and through the establishment of an arbitration forum where investors can resolve disputes against broker dealers. FINRA’s arbitration forum, FINRA Dispute Resolution is the largest arbitration forum in the country for resolving investor disputes, and typically processes over 10,000 filings annually.
The Law Office of David Liebrader practices exclusively in the field of investment loss recovery. For the past 24 years, we have dedicated our law practice to assisting investors who have been victims of investment fraud via unlawful and unsuitable investment transactions. During that time, we have recovered money for over one thousand individuals, pension plans, trusts, and companies. The recoveries we have obtained via judgments, awards and settlements on behalf of our clients exceed $40,000,000.
If you suspect that you have been the victim of investment fraud, or had a financial advisor recommend unsuitable investments to you, call us today for a free, confidential consultation at (702) 380-3131.