Steven M. Netzel of Gilbert Arizona Suspended from FINRA for FOUR Months

Steven M. Netzel (CRD #2863170, Gilbert, Arizona)
According to FINRA, An AWC (Letter of Acceptance, Waiver and Consent) was issued where Netzel was assessed a deferred fine of $10,000, suspended from association with any FINRA member in all capacities for four months, and ordered to pay $9,788.80, plus interest, in deferred partial restitution to customers.

Without admitting or denying the findings, Netzel consented to the sanctions and to the entry of findings that he caused his firm’s books and records to be inaccurate by submitting altered customer documents to the firm related to purchases of alternative investments. The findings stated that, in connection with at least six customers’ alternative investment purchases, Netzel submitted investor profiles that he knew reflected inaccurate information.

The findings also stated that Netzel made unsuitable recommendations to customers that resulted in the customers being overconcentrated in alternative investments that were unsuitable for them based on their net worth, investment objectives and risk tolerance.
The suspension is in effect from April 17, 2023, through August 16, 2023. (FINRA
Case #2018060897301).

If you have lost money in investments with Steven M. Netzel, call Bingham Law at (480) 832-1922 to discuss recovery of your losses.  Tony may be able to represent you in an arbitration action concerning this conduct.