Case summary
On January 30, 2025, the Washington State Department of Financial Institutions Division of Securities entered a Statement of Charges (S-24-3791-25-SC01) against Winston Felix.
Order details
Order File: S-24-3791-25-SC01
Laws & Rules: RCW 21.20.702, WAC 460-20C-220
Penalties/Remedies:
- Cease and desist;
- Fines & costs
Allegations
- At the end of 2022, the Respondent made an unsuitable recommendation to a Washington customer to make a series of trades in their brokerage account for tax-loss harvesting purposes, causing over $120,000 in capital losses.
- Prior to making the series of transactions, the Respondent failed to gather information about: (a) the amount of capital gains the Washington customer needed to offset; and (b) whether the Washington customer had previous capital losses that could be carried forward.
The Respondent has a right to request a hearing on the Statement of Charges.