According to BrokerCheck records kept by The Financial Industry Regulatory Authority (FINRA) broker Christian Ramsey (Ramsey), previously associated with Gwn Securities INC., has been subject to at least one disclosable event. These events include one customer complaint. Several of those complaints against Ramsey concern allegations of high frequency trading activity also referred to as churning or excessive trading among other securities laws violations.
FINRA BrokerCheck shows a pending customer complaint with a damage request of $250,000.00 on June 11, 2025.
Respondents exploited Claimant’s lack of understanding by selling high-commission, complex, and illiquid alternative investments. They encouraged Claimant to rely on their advice while referencing inflated pricing without disclosing that no true market existed. Claimant was left uninformed of available liquidation or mitigation options, keeping him dependent on Respondents’ guidance and delaying any potential complaint.\, \, Despite ongoing duties, Respondents continued advising Claimant to hold these unsuitable investments, misrepresenting them as ‘lower risk’ despite their illiquidity, concentration issues, and high commissions. Claimant reasonably relied on Respondents’ superior knowledge and believed they would act in his best interest, particularly given his nearing retirement. Instead, Respondents prioritized their own compensation, ignoring regulatory standards for sales of complex products to retail investors.\, \, Respondents’ misrepresentations and omissions caused Claimant to invest in and retain unsuitable products, resulting in substantial losses. The delayed discovery of this misconduct does not relieve Respondents of liability.\, \, No dates were provided.
When brokers engage in excessive trading, sometimes referred to as churning, the broker will typical trade in and out of securities, sometimes even the same stock, many times over a short period of time. Every month, part of the account are replaced by different securities. The only purpose of this investment trading activity in any client’s account is to generate commissions that benefit the broker, not the investor. Securities regulators consider churning to be a distinct form of investment fraud. The key components of the claim include excessive securities transactions, broker dominance over the account, and an intent to defraud the investor by securing illegal commissions. A similar claim, excessive trading, under FINRA’s suitability rule involves just the first two elements. Certain commonly used measures and ratios used to determine churning help evaluate a churning claim. These ratios look at how frequently the account is turned over plus whether or not the expenses incurred in the account made it unreasonable that the investor could reasonably profit from the activity.
According to newsources, a study revealed that 7.3% of financial advisors had a customer complaint on their record when records from 2005 to 2015 were examined. Brokers must publicly disclose reportable events on their BrokerCheck reports that include customer complaints, IRS tax liens, judgments, investigations, terminations, and criminal cases. In addition, research has shown a disturbing pattern with troublesome brokers where brokers with high numbers of customer complaints are not kicked out of the industry but instead these brokers are sifted to lower quality brokerage firms with loose hiring practices and higher rates of customer complaints. These lower quality firms may average brokers with five times as many complaints as the industry average.
Ramsey has been in the securities industry for more than 18 years. Ramsey has been registered as a Broker with Gwn Securities INC. since 2016.
Investors who have suffered losses are encouraged to contact us at (800) 810-4262 for consultation. At Gana Weinstein LLP, our attorneys are experienced representing investors who have suffered securities losses due to the mishandling of their accounts. Claims may be brought in securities arbitration before FINRA. Our consultations are free of charge and the firm is only compensated if you recover.