Last Updated: September 2023 (Houston, Texas)
George Cairnes Investigation Summary
Here’s what you need to know about Houston, Texas stockbroker George J. Cairnes:
- Name: Mr. George John Cairnes
- Current Employer: Chelsea Financial Services
- Previous Firms: Wells Fargo Clearing Services, Wells Fargo Advisors, Stanford Group Company, Merrill Lynch Pierce Fenner & Smith
- Function: Stock Broker/ Financial Advisor
- Aliases: George Cairnes
- Primary Location: Houston, Texas
- CRD 4068906
- Can George Cairnes be sued in FINRA arbitration: Yes
- Sanctioned by FINRA: No
- Discharged by a former employer: Yes
- Has Pending Customer Dispute: Yes
Discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With George Cairnes As Your Stockbroker?
In 4/2023 a customer of Wells Fargo Advisors made a complaint alleging that George Cairnes recommended that she set up a line of credit to loan money to Cairnes , his family members and his friends. A portion of the loan has not been repaid. A damage amount is not specified in the claim.
Shortly thereafter, in 6/2023, Wells Fargo advisors discharged George Cairnes and alleged on his official FINRA record that the termination was a result of Cairnes having facilitated the loan between a client and individuals associated with him.
Earlier in his career, while employed by Merrill Lynch, a customer was paid $19,766 to resolve allegations that George Cairnes recommended an unsuitable mortgage that caused damages.
Allegations of Broker Misconduct Against George Cairnes
A customer of George Cairnes has alleged the following wrongdoing in connection with the handling of customer accounts:
- Unsuitable Investment Recommendation
- Unsuitable Use of Margin Interest
A prior employer of George Cairnes has alleged the following violation of firm policy resulting in a discharge from employment:
- Borrowing from a client
- Facilitating loans between client and persons associated with the broker
The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.
Recover Your Investment Losses Now With Rex Securities Law
If you have suffered investment losses in an account handled by George Cairnes , contact us for a complimentary consultation with an experience securities lawyer to learn how you may be able to recover damages through FINRA arbitration.
With offices in Boca Raton, FL and Austin, TX, stockbroker fraud attorney Bob Rex provides representation to investors nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers, financial advisors and broker dealers.
If you have questions about how your account has been handled, call (877) 224-3199 to speak with an experienced securities attorney at no cost to you.
Most cases are handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.
