Publicly available records provided by the Financial Industry Regulatory Authority (FINRA) indicate that broker/advisor, Ian Phillip Lowrey (CRD # 6367392) was recently suspended from the securities industry by FINRA’s Department of Enforcement after an investigation into excessive trading (churning).
The Law Office of Kevin J. Deloatch, Esq. is interested in speaking to investors who have complaints regarding Mr. Lowrey.
Registration Background for Ian Lowrey
Mr. Lowrey first became registered in the securities industry in 2014. He was most recently registered with Brandon, SD based Wynston Hill Capital, LLC (CRD # 103811) from May 2020 to June 2020. His prior registrations include Spartan Capital Securities, LLC (CRD # 146251) from November 2016 to January 2020 and Joseph Gunnar & Co. LLC (CRD # 24795) from March 2016 to November 2016.
FINRA’s Allegations Against Ian Lowrey
According to FINRA Letter of Acceptance, Waiver and Consent (AWC) dated May 10, 2022 (No. 2018056490302), Mr. Lowrey consented to, without either admitting to or denying, the following findings by FINRA’s Department of Enforcement:
- “From April 2017 through October 2019, while registered with FINRA through Spartan Capital, [Mr.] Lowrey excessively traded two customers’ accounts in violation of FINRA Rules 2111 and 2010”;
- “[Mr.] Lowrey recommended high frequency trading in the two customer accounts”;
- “[Mr.] Lowrey’s customers routinely followed his recommendations and, as a result, [Mr.] Lowrey exercised de facto control over the two customers’ accounts”;
- “[Mr.] Lowrey’s trading resulted in high turnover rates and cost-to-equity ratios as well as significant losses”;
- “[Mr.] Lowrey’s trading in these two customers’ accounts was excessive and unsuitable given the customers’ investment profiles”; and
- By virtue of his actions, Mr. Lowrey violated of FINRA Rule 2111 regarding suitability FINRA and Rule 2010 regarding standards of commercial honor and principles of trade.
FINRA Suspends Ian Lowrey from Securities Industry
As a result of such violations and in addition to the above-described findings and conclusions, FINRA’s May 10, 2022 AWC also indicates that Mr. Lowrey consented to the following sanction(s):
- A three-month suspension from association with any FINRA member in all capacities;
- A fine in the amount of $5,000.00; and
- Restitution in the amount of $48,116.00 plus interest.
Ian Lowrey Has No History of Securities Industry Customer Complaints
In addition to Ian Lowrey being suspended by FINRA from the securities industry regarding excessive trading (churning), FINRA BrokerCheck for Mr. Lowrey reveals that he has no prior history of customer complaints and/or customer-initiated arbitrations.
If you or someone you know has or had a brokerage account with Ian Phillip Lowrey and have concerns regarding losses in your investments or possible sales practice violations including fraud, you may be entitled to recover lost funds. The Law Office of Kevin J. Deloatch, Esq. has an extensive securities law practice and over 30 years of experience on Wall Street. Call today at (646) 792-2156 for a free consultation. The time to file your claim may be limited so you should call today to avoid delay.
