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Winston Felix – Statement of Charges – S-24-3791-25-SC01

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. 

Order file

View order file