Stoltmann Law Offices is investigating Christopher J. Elliott, a former registered representative with Infinex Investments. According to his Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), Elliott was accused of recommending unsuitable transactions in inverse and inverse-leveraged Exchange Traded Funds and Exchange Traded Notes (non-traditional ETFs and ETNs) in the accounts of three customers. Allegedly, from December 2012 until May 2013, Elliott recommended and executed 150 transactions in ETFs and ETNs that were not suitable for the customers. He held several of the ETFs and ETNs in the accounts for as long as a month, even though these are typically short-term trading vehicles not meant to be held for extended periods. In all, the customers lost $24,850 because of the unsuitable investments. During this time, Elliott also exercised discretion in the customer’s accounts, which he was not permitted to do so. These are all against securities rules and regulations.
Elliott was registered with AXA Advisors in Norfolk, Virginia from September 2007 until January 2009, Proequities Inc. in Norfolk from December 2010 until June 2011, Navy Federal Brokerage Services in Dale City, Virginia from June 2011 until November 2011, Infinex Investments in Dumfries, Virginia from January 2012 until March 2014, United Brokerage Services in McLean, Virginia from February 2014 until September 2014 and E Trade Securities in Washington, DC from July 2015 until December 2015. He is not currently registered with any firm and is not licensed.
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