December 5, 2017
On November 13, 2017, the Financial Industry Regulatory Authority (FINRA) Department of Enforcement approved a Letter of Acceptance, Waiver and Consent (AWC) submitted by broker Robert Scott Wilder to resolve allegations of securities industry violations.
According to Wilder’s FINRA BrokerCheck report, Wilder was most recently associated with Atlanta-based brokerage firms Sterne Agee Financial Services, Inc. from June 2013 to December 2015. The alleged misconduct occurred while Wilder worked at Triad Advisors, Inc. (Triad) from November 2009 to July 2013 and Morgan Keenan & Company, Inc. from March 2005 to November 2009.
FINRA alleges that between June 18, 2009 and January 4, 2010, Wilder participated in private securities transactions without providing prior written notice to and approval from his member firms, in violation of NASD Rule 3040 and FINRA Rule 2010. Specifically, Wilder formed a start-up investment advisory business called Lakeview Capital Management, LLC (Lakeview). Wilder solicited at least four firm customers to purchase at least $200,000 in promissory notes issued by Lakeview. FINRA further claims that Wilder distributed Lakeview private placement memorandums and subscription agreements and executed the sale of promissory notes and the subscription agreements on behalf of Lakeview.
By signing the AWC, Wilder consents, without admitting or denying the allegations, to a $5,000 fine and a three-month suspension from associating with any FINRA member firm in any capacity.