Wynston Hill Capital
Craig Sherman
Investigation
March 2022-Fletcher, NC
The FINRA records of Craig Jay Sherman a broker who formerly worked for Wynston Hill Capital, discloses a recent final regulatory event.
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.
In November 2021, Sherman was suspended by FINRA for four months and fined $5,000 individually, to resolve allegations that he did not conduct any reviews to identify potential churning or excessive trading. As a result he did not identify that two of the firm’s registered representatives were excessively trading two customers accounts, ultimately charging those customers more that $300,000 in excess commissions and fees in less than six months. FINRA found that Sherman failed to reasonably investigate red flags of excessive trading even when presented to him.
Sherman was registered with Wynston Hill Capital from June of 2017 until October of 2020. As of the date of this posting, Sherman is not currently registered. Before that time he was with Aeon Capital for a short time and then with Middlebury Securities from August of 2011 to September of 2016.
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