National investment loss lawyers KlaymanToskes reports broker/investment advisor Helen Caldwell (CRD# 1957501) has been permanently barred from acting as a broker or associating with a broker-dealer firm by the Financial Industry Regulatory Authority (“FINRA”).
According to FINRA BrokerCheck, Helen Grace Caldwell was previously registered with Citigroup Global Markets from 2012 to 2021, and with Wells Fargo Clearing Services from 2021 to 2022 in Chicago, IL.
FINRA’s decision comes after Caldwell refused to produce on-the-record testimony regarding her alleged participation in outside business activities and in connection with an investigation into the circumstances giving rise to the amended Form U5 filed by Citigroup and the Form U5 filed by Wells Fargo.
Investors that suffered losses with Helen Caldwell may be entitled to a financial recovery. Contact Lawrence L. Klayman, Esq. immediately at (888) 997-9956 or lawrence@klaymantoskes.com to discuss your recovery options at no cost.
On July 6th, 2023, FINRA’s Department of Enforcement entered into a Letter of Acceptance, Waiver, and Consent (“AWC”) with Helen Caldwell, disclosing that she consented to sanctions of a permanent bar from associating with any FINRA member in all capacities.
Citigroup filed a Form U5 on November 12, 2021, disclosing that Caldwell had voluntarily resigned from the firm. FINRA’s Form U5 is the “Uniform Termination Notice for Securities Industry Registration,” used by brokerage firms each time one of their registered employees leaves the firm, for any reason.
According to the AWC, Citigroup then filed an amended Form U5 in April 2022, which disclosed that the firm was internally reviewing whether Caldwell had “adequately disclosed outside business activity and solicited firm clients to invest in her film production business.”
In August, 2022, Citigroup filed an amended Form U5 disclosing that its internal review concluded that Caldwell “did not adequately disclose her outside business activity, and was soliciting firm clients to invest in her outside business activity, several of whom subsequently made investments.”
From November 10, 2021, to September 2022, Caldwell was registered with Wells Fargo Clearing Services. Wells Fargo filed a Form U5 disclosing that Caldwell had been discharged “following an internal review concerning the accuracy of disclosures that [Caldwell] made to the Firm and [Caldwell’s] compliance with the Firm’s Outside Activities and Outside Investment Policy.”
On May 17, 2023, FINRA sent a request to Caldwell pursuant to FINRA Rule 8210, requesting that she appear for on-the-record testimony. The AWC further disclosed that on June 12th, 2023, Caldwell acknowledged that she received FINRA’s request and will not appear for on-the-record testimony at any time.
Under FINRA Rule 8210, all brokerage firms and registered financial professionals are required to provide information, documents, and testimony upon regulators’ requests.
A violation of FINRA Rule 8210 is also a violation of FINRA Rule 2010, which requires brokerage firms and their registered representatives to “observe high standards of commercial honor and just and equitable principles of trade.”
Former customers of Helen Caldwell that suffered losses at Citigroup and/or Wells Fargo are encouraged to contact our firm immediately to discuss recovery options at 888-997-9956 or on the web at www.klaymantoskes.com.
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lawrence@klaymantoskes.com
www.klaymantoskes.com