Last Updated: June 2025 | Dallas, TX
Here’s what you need to know about Dallas, TX, stockbroker Stephen Parks:
- Name: Mr. Stephen Glover Parks
- Current Employer: Skystone Securities, LLC
- Prior Employers: Commerce Street Capital, SAMCO Capital Markets, Penson Financial Services
- Function: Stockbroker / Financial Advisor
- Primary Location: Dallas, TX
- Alias: Stephen Parks
- CRD Number: 5074732
- Can Stephen Parks be sued in FINRA arbitration? Yes
- Sanctioned by FINRA? No
- Pending Customer Dispute Seeks Damages of: $5,000,000
If you’ve sustained damages from Mr. Parks, discuss your case with experienced investment fraud lawyer Bob Rex at (877) 224-3199 for a free consultation.
Did You Lose Money With Stephen Parks As Your Stockbroker?
A FINRA arbitration (No. 25-00825), filed in April 2025, seeks $5,000,000 in damages. A customer of Skystone Securities alleges that Stephen Parks, recommended a wholly unsuitable investment strategy involving two speculative, alternative investments. These private placements, which generated substantial revenue for the Parks and his company, were allegedly misrepresented, and due diligence was not adequately performed according to the customer.
The allegations indicate violations of FINRA Rule 2111 (Suitability Rule), which requires brokers to have a reasonable basis to believe that a recommended transaction is suitable for the customer, and FINRA Rule 3110, which obligates firms to supervise investment recommendations.
According to his LinkedIn profile, Steve Parks is a “Managing Director of Skystone Securities, LLC focusing on transaction advisory, financing, private placements and other corporate finance initiatives on behalf of privately held companies”.
Allegations of Broker Misconduct Against Stephen Parks
Allegations include:
- Unsuitable Investment Recommendations
- Misrepresentation
- Failure to Conduct Due Diligence
- Conflicted Interests
These allegations, if proven, may reflect violations of FINRA Rule 2111 (Suitability) and FINRA Rule 2010, which requires high standards of commercial honor and equitable principles of trade.
Stephen Park’s Other Business Activities
Parks lists the following business affiliations on his FINRA record:
- Petro Capital Advisors LLC, managing director
- Petro Capital Securities LLC, investment banking representative
Private Placements under Reg D: What is a Private Placement? According to the U.S. Securities and Exchange Commission (SEC):
“Under the federal securities laws, a company may not offer or sell securities unless the offering has been registered with the SEC or an exemption from registration is available. Offerings exempt from the SEC’s registration requirements pursuant to Securities Act Section 4(a)(2) or its safe harbor under Regulation D of the Securities Act are often referred to as private placements.”
The SEC warns that unregistered offerings may be utilized to conduct investment scams and that investors should have the ability to weather a total loss in these illiquid investments. See this SEC Investor Alert about red flags to watch out for in unregistered offerings.
Recover Your Investment Losses Now With Rex Securities Law
Investigation of Skystone Securities Broker Rosser Newton
See this for more information on REITs and Other Alternative Investments
If you have suffered investment losses in an account handled by Stephen Parks or any other broker at Skystone Securities, contact us for a complimentary consultation with an experienced 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.