FINRA

Harris was named a respondent in a FINRA complaint alleging that he manufactured faked documents that he then provided to FINRA in response to its requests during an investigation of his undisclosed outside business activity. The complaint alleges that FINRA requested that Harris provide certain financial information and bank statements and in response Harris provided false and incomplete information to it. Harris failed to disclose the accounts he actually held and provide the requested statements for those accounts. Instead, Harris created fake bank statements for other accounts he purported to hold and provided the manufactured documents to FINRA. The complaint also alleges that Harris repeatedly lied about his actions during on-the-record testimony, falsely claiming that he did not alter any of the records that he produced to FINRA. The complaint further alleges that Harris engaged in an undisclosed outside business activity for compensation. The outside business activity involved securities investment research and advice for which he was paid $750.

Decision

Bar (Permanent)

All Capacities

Indefinite

8/21/2020

A suspension and fine are not imposed given the bar.

Default decision rendered July 24, 2020. A suspension and fine are not imposed given the bar. The sanction was based on the findings that Harris provided false and incomplete documents and false testimony to FINRA during an investigation into his undisclosed outside business activity. The findings stated that in three instances, FINRA requested that Harris provide financial information and bank statements for all bank accounts that Harris owned or controlled. Harris never listed two of the bank accounts that he owned or controlled in response to the FINRA requests sent. In addition, Harris never provided copies of statements for the bank accounts. Instead, Harris provided fake account summaries that he had created. The findings also stated that Harris falsely claimed that he did not alter any of the bank records or account summaries that he had provided to FINRA. The findings also included that Harris failed to disclose his outside business activity to his member firm. Harris sought approval from his firm to conduct the outside business activity through his company. The firm did not approve Harris' outside business activity. On the contrary, the firm asked Harris to confirm that he had dissolved his company and was no longer conducting business through it. So, Harris represented to his firm that he had dissolved the company and did not conduct business through it. This representation was false. Harris received $750 in compensation from a customer for providing her with investment advice outside the scope of his relationship with his firm. The decision became final on August 21, 2020.

Transamerica Financial Advisors, Inc.

Discharged

The Representative was terminated after a complaint was received by the firm alleging that the Representative had received funds from a client in relation to an investment opportunity not approved by the firm.

FINRA

Respondent Harris failed to respond to FINRA request for information.

Letter

Suspension

All Capacities

N/A

10/2/2017

10/31/2017

Pursuant to FINRA Rule 9552 and in accordance with FINRA's Notice of Suspension letter dated September 7, 2017, Harris is suspended on October 2, 2017 from associating with any FINRA member firm in all capacities. If Harris fails to request termination of the suspension within three months of the date of the Notice of Suspension, he will automatically be barred on December 11, 2017 from association with any FINRA member in all capacities pursuant to FINRA Rule 9552(h). Suspension lifted on October 31, 2017.

Finra tried to contact me (using inaccurate postal address) in order to ask questions about OBA and OBA website. I answered the questions to the satisfaction of finra and I was then quickly reinstated.

[CUSTOMER] CLAIMS THE ALLEGED ALLEGATION STARTED ON 11/19/2013. BELOW IS THE STATEMENT QUOTED FROM [CUSTOMER]: "I AM CONTACTING YOU REGARDING AN ASSOCIATE, STEVEN HARRIS. THE SHORT VERSION IS MR. HARRIS WAS GIVEN $3000 TO INVESTMENT FOR ME PLUS AN ADDITIONAL $800 TO TRADEMARK A COMPANY NAME AND LOGO. IN OCTOBER, ISTARTED TO INVEST IN REAL ESTATE AND THE THUS NEEDED THE $3 K IMMEDIATELY. UPON MY REQUEST, MR. HARRIS DID NOT GIVE ME THE MONEY. SO THIS RAISED QUESTIONS ABOUT THE TRADEMARK FEE. SO ICHECKED AND FOUND THAT HE DID NOT FILE FOR THE TRADEMARKS. SO IASKED HIM TO RETURN THE ENTIRE $3800. AFTER MONTHS OF TRYING TO GET THE FUNDS, IN APRIL HE SENT ME $500 OF $3800 VIA FEDEX. THE FUNDS HAVE NOT BEEN DEPOSITED INTO MY ACCOUNT''.

$3,800.00

MR. HARRIS DENIED THE ALLEGATIONS AND PROVIDED DOCUMENTS TO SUPPORT HIS POSITION.