FINRA

Respondent Wood failed to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.

Letter

Suspension

All Capacities

Indefinite

Continues until required payment is made or discharged.

11/2/2018

Pursuant to Article VI, Section 3 of FINRA By-Laws, and FINRA Rule 9554, Respondent Wood is suspended on November 2, 2018, for failure to comply with an arbitration award or settlement agreement or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance.

Stephen Douglas Wood was named in customers' complaint that asserted the following causes of action: unsuitability, breach of fiduciary duty, fraud and misrepresentation, Securities Law & Self-Regulatory Organization rule violations, violation of New Jersey Securities Act, negligence, breach of contract, respondeat superior, aiding and abetting, and failure to supervise.

$451,423.00

This award has not been paid by or on behalf of Stephen Douglas Wood as of November 2, 2018.

$8,070.73

Civil

$13,313.03

Civil

$586,041.70

Tax

MISREPRESENTATION FAILURE TO FOLLOW INSTRUCTION 1/95-2/97

$20,000.00

THE CUSTOMER'S COMPLAINT WAS REJECTED.

CUSTOMERS ALLEGED THAT CERTAIN INVESTMENTS IN THEIR ACCOUNTS WERE UNSUITABLE AND SOUGHT UNSPECIFIED. THIS OCCURRED AT MERRILL LYNCH.

$29,750.00

[CUSTOMER] SETTLED HIS COMPLAINT FOR $20,000 ON 08/14/98. [SPOUSE] SETTLED HER COMPLAINT FOR $9,750 ON 08/11/98. MERRILL LYNCH AND MR. WOOD DENIED THE CLAIM IN ITS ENTIRETY. THE MATTER SETTLED TO AVOID THE COST AND UNCERTAINITY OF LITIGATION.